![]() ![]() Indonesian consumers pay for nearly one third of ecommerce purchases using e-wallets like GoPay, OVO, DANA, LinkAja, or Jenius. If you were already operating in Indonesia, you might think you could simply transfer your Indonesia payments strategy to Malaysia and think nothing more of the matter. According to recent data, 69.8% of digital shopping carts and baskets were abandoned without completing the purchase. Research has found that failing to offer a payment method that consumers know and trust can lead to cart abandonment rates. In particular, the localisation of payment methods. How can businesses maximise their chances of success? Many local credit cards are not cross-border enabled so access to their locally preferred payment methods like UPI, Rupay and PayTM is vital to accessing this market. A third of Indian ecommerce, worth more than USD 15 billion, is already cross-border, indicating a willingness to try new retailers. Little wonder then, that the ecommerce market is worth USD 60 billion and is forecast to grow to at least USD 120 by 2025. India is the world's second most populous country and smartphone penetration is already at 700 million people, growing rapidly, thanks to government policies promoting digital payments. ![]() So where should merchants, and the service providers who support them, concentrate their efforts?īased on original research from PPRO, here are the four markets to watch in Asia. In an ideal world, ecommerce merchants looking for growth would invest right across Asia.īut very few businesses can afford to expand everywhere at once. Between now and 2030, 60% of the world’s economic growth will come from Asia. By 2035, the Indian ecommerce market is expected to be worth USD 350 billion, sending it rocketing past more mature markets such as the UK’s to become the third largest in the world.Īsian ecommerce is booming. In China, consumer spending is set to double by 2030. By 2030, the digital economy in Southeast Asia will be worth USD 1 trillion. Payments in Asia are complex and fragmented but the rewards for merchants looking for hyper growth are clear. Tristan Chiappini, VP of Partnerships in APAC at PPRO, makes a detail account of the 4 most relevant ecommerce markets in Asia
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