Leading digital payment platforms for e-commerce Asia 2021, by country
E-commerce payment methodsE-commerce payments amount to over half of all digital payments in Asia. International digital payment services are a vital part of cross-border e-commerce. Digital or mobile wallet is the most popular e-commerce payment method in the Asia-Pacific region and is projected to keep expanding.
Popular digital payment platformsWith over 400 million active user accounts worldwide, PayPal is a leading digital payments service provider for cross-border e-commerce enterprises in all big six Southeast Asian countries. Interestingly, when there is a smaller presence of PayPal, there is a larger one of WorldFirst. Since the UK-founded international payments giant, WorldFirst, was bought by Ant Group, it has gained a significant market share in Asia, specifically in Japan, South Korea, and China.
Along with PayPal, Payoneer is another U.S.-based digital payment platform gaining popularity in Asia. Besides the international platforms, the leading home-grown digital payment platforms that are prominent in the Asia-Pacific scene include Alipay, the leading digital payments app for consumers in China, LianLian Global, and Airwallex.