The Southeast Asian Countries' Growth in Mobile Payments Use, Here's The Rankings
According to PwC's Global Consumer Insights Survey 2019, which had 21,480 respondents from 27 territories, in mobile payments use, Vietnam tops the table both regionally and globally, The Business Times reported.
Vietnam's mobile payments usage growth increased from 37 per cent to 61 per cent, up 24 percentage points.
While Singapore climbed 12 percentage points from 34 per cent of consumers surveyed in 2018 to 46 per cent in 2019.
"Since the government began driving the way for digital payments in late 2017, this signifies a payoff in the efforts by the government and other mobile payments players," said PwC.
Use of mobile payments also increases in other South-east Asian nations.
Usage rose 19 percentage points in Thailand; 17 percentage points in Malaysia; 14 percentage points in the Philippines; and nine percentage points in Indonesia.
The survey said Asian consumers are more socially engaged online than those in Europe and the Americas. Respondents in Thailand, Indonesia and Vietnam led the pack globally in making purchases directly through social media posts on platforms like Instagram and Facebook.
Globally, only 21 per cent of respondents made purchases directly through social media.
Charles Loh, Southeast Asia consumer and industrial products consulting leader, PwC, said: “Social media platforms are already mature in Southeast Asia.
The trend in online shopping, moving forward, is the consolidation of e-commerce players with fewer big players providing that gateway. There seems to be a consolidator present in every market.”
Source : The Business Times | PwC Official Report