Category: MasterCard

Digital wallets surge in popularity in APAC

PRNEWS Admin

One in five smart phone users in Asia Pacific now shopping with a digital wallet

MasterCard’s latest Mobile Shopping Survey reveals that consumers in Asia Pacific are embracing new mobile technologies with one in five or (19.5 percent) using digital wallets, a two-fold increase from two years ago (9.7 percent).

Emerging markets are leading the way with smart phone users in China (45.0 percent), India (36.7 percent) and Singapore (23.3 percent) the region’s biggest adopters of digital wallets. The results are based on interviews that took place between October and December 2015with 8,500 people aged 18-64 across 14 markets in Asia Pacific.

While mobile banking apps (31.8 percent) are still the most widely used among other new mobile technologies such as in-app shopping and mobile NFC payments, digital wallets have seen the fastest uptake over the last two years.

In addition, consumers continue to embrace mobile shopping with half in Asia Pacific having made a purchase using their smart phone in the three months. Unsurprisingly, the markets that have seen strong uptake of digital wallets are also where the majority of people are using their mobiles to shop.

Overall, close to half of respondents (48.5 percent) across the region have made a purchase using their smart phone in the past three months, led by those in India (76.4 percent), China (76.1 percent), South Korea (62.0 percent) and Thailand (61.1 percent).

India also tops the region in growth rates, with the number of people shopping on smart phones rising by 29.3 percent from two years ago, followed by Vietnam (17.7 percent) and Singapore (17.1 percent).

Australians (23.7 percent) and New Zealanders (16.2 percent) are the least likely to shop online via their mobile phones.

More than half of the respondents across Asia Pacific (53.9 percent) cited convenience as the key driver for shopping on their smart phone. Other motivating factors include the ability to shop on the go (42.9 percent) and the growing availability of apps that make it easy to shop online (41.4 percent).

Clothing and accessories (35 percent), personal care and beauty products (20.9 percent) and movie tickets (20.4 percent) are the top mobile shopping purchases amongst Asia Pacific consumers. Close to half of consumers in China (46.4 percent), India (42.5 percent) and Korea (42.1 percent) shop for clothing and accessories on their smart phone.

In the Philippines, an increase in mobile shopping was also noted, with 40.9 percent purchasing an item via smart phone in the past three months. Similar to their counterparts in Asia Pacific, Filipinos’ top mobile shopping purchases are 31.5 percent clothes and other fashion accessories, 21.7 percent personal care and beauty products, and 18.3 percent home appliances. Filipinos point to being able to shop on the go and convenience as primary reasons for mobile shopping.

When it comes to new mobile technologies for business and online shopping, 33.5% of Filipinos are more familiar and likely to use mobile banking apps. Digital wallets come second at 17 percent, which has risen from 10.3 percent in the past years.

Raj Dhamodharan, Group Head, Digital Payments, Asia Pacific, MasterCard commented “New forms of mobile payment technology, such as MasterCard’s digital wallet MasterPass, are making transactions easier and safer, online, in-app and in-store. As more and more merchant apps provide shopping and services, consumers need a digital wallet that provides the best balance between security and convenience. We are already seeing that demand in many markets in Asia Pacific from India to Singapore to Australia. In Singapore for example consumers are using their MasterPass wallet to pay their bills and book taxis. In each of these cases we worked with merchants to enable safe and simple in app payments using MasterPass.”

Digital wallets surge in popularity in APAC

PRNEWS Admin

One in five smart phone users in Asia Pacific now shopping with a digital wallet

MasterCard’s latest Mobile Shopping Survey reveals that consumers in Asia Pacific are embracing new mobile technologies with one in five or (19.5 percent) using digital wallets, a two-fold increase from two years ago (9.7 percent).

Emerging markets are leading the way with smart phone users in China (45.0 percent), India (36.7 percent) and Singapore (23.3 percent) the region’s biggest adopters of digital wallets. The results are based on interviews that took place between October and December 2015with 8,500 people aged 18-64 across 14 markets in Asia Pacific.

While mobile banking apps (31.8 percent) are still the most widely used among other new mobile technologies such as in-app shopping and mobile NFC payments, digital wallets have seen the fastest uptake over the last two years.

In addition, consumers continue to embrace mobile shopping with half in Asia Pacific having made a purchase using their smart phone in the three months. Unsurprisingly, the markets that have seen strong uptake of digital wallets are also where the majority of people are using their mobiles to shop.

Overall, close to half of respondents (48.5 percent) across the region have made a purchase using their smart phone in the past three months, led by those in India (76.4 percent), China (76.1 percent), South Korea (62.0 percent) and Thailand (61.1 percent).

India also tops the region in growth rates, with the number of people shopping on smart phones rising by 29.3 percent from two years ago, followed by Vietnam (17.7 percent) and Singapore (17.1 percent).

Australians (23.7 percent) and New Zealanders (16.2 percent) are the least likely to shop online via their mobile phones.

More than half of the respondents across Asia Pacific (53.9 percent) cited convenience as the key driver for shopping on their smart phone. Other motivating factors include the ability to shop on the go (42.9 percent) and the growing availability of apps that make it easy to shop online (41.4 percent).

Clothing and accessories (35 percent), personal care and beauty products (20.9 percent) and movie tickets (20.4 percent) are the top mobile shopping purchases amongst Asia Pacific consumers. Close to half of consumers in China (46.4 percent), India (42.5 percent) and Korea (42.1 percent) shop for clothing and accessories on their smart phone.

In the Philippines, an increase in mobile shopping was also noted, with 40.9 percent purchasing an item via smart phone in the past three months. Similar to their counterparts in Asia Pacific, Filipinos’ top mobile shopping purchases are 31.5 percent clothes and other fashion accessories, 21.7 percent personal care and beauty products, and 18.3 percent home appliances. Filipinos point to being able to shop on the go and convenience as primary reasons for mobile shopping.

When it comes to new mobile technologies for business and online shopping, 33.5% of Filipinos are more familiar and likely to use mobile banking apps. Digital wallets come second at 17 percent, which has risen from 10.3 percent in the past years.

Raj Dhamodharan, Group Head, Digital Payments, Asia Pacific, MasterCard commented “New forms of mobile payment technology, such as MasterCard’s digital wallet MasterPass, are making transactions easier and safer, online, in-app and in-store. As more and more merchant apps provide shopping and services, consumers need a digital wallet that provides the best balance between security and convenience. We are already seeing that demand in many markets in Asia Pacific from India to Singapore to Australia. In Singapore for example consumers are using their MasterPass wallet to pay their bills and book taxis. In each of these cases we worked with merchants to enable safe and simple in app payments using MasterPass.”

Digital wallets surge in popularity in APAC

PRNEWS Admin

One in five smart phone users in Asia Pacific now shopping with a digital wallet

MasterCard’s latest Mobile Shopping Survey reveals that consumers in Asia Pacific are embracing new mobile technologies with one in five or (19.5 percent) using digital wallets, a two-fold increase from two years ago (9.7 percent).

Emerging markets are leading the way with smart phone users in China (45.0 percent), India (36.7 percent) and Singapore (23.3 percent) the region’s biggest adopters of digital wallets. The results are based on interviews that took place between October and December 2015with 8,500 people aged 18-64 across 14 markets in Asia Pacific.

While mobile banking apps (31.8 percent) are still the most widely used among other new mobile technologies such as in-app shopping and mobile NFC payments, digital wallets have seen the fastest uptake over the last two years.

In addition, consumers continue to embrace mobile shopping with half in Asia Pacific having made a purchase using their smart phone in the three months. Unsurprisingly, the markets that have seen strong uptake of digital wallets are also where the majority of people are using their mobiles to shop.

Overall, close to half of respondents (48.5 percent) across the region have made a purchase using their smart phone in the past three months, led by those in India (76.4 percent), China (76.1 percent), South Korea (62.0 percent) and Thailand (61.1 percent).

India also tops the region in growth rates, with the number of people shopping on smart phones rising by 29.3 percent from two years ago, followed by Vietnam (17.7 percent) and Singapore (17.1 percent).

Australians (23.7 percent) and New Zealanders (16.2 percent) are the least likely to shop online via their mobile phones.

More than half of the respondents across Asia Pacific (53.9 percent) cited convenience as the key driver for shopping on their smart phone. Other motivating factors include the ability to shop on the go (42.9 percent) and the growing availability of apps that make it easy to shop online (41.4 percent).

Clothing and accessories (35 percent), personal care and beauty products (20.9 percent) and movie tickets (20.4 percent) are the top mobile shopping purchases amongst Asia Pacific consumers. Close to half of consumers in China (46.4 percent), India (42.5 percent) and Korea (42.1 percent) shop for clothing and accessories on their smart phone.

In the Philippines, an increase in mobile shopping was also noted, with 40.9 percent purchasing an item via smart phone in the past three months. Similar to their counterparts in Asia Pacific, Filipinos’ top mobile shopping purchases are 31.5 percent clothes and other fashion accessories, 21.7 percent personal care and beauty products, and 18.3 percent home appliances. Filipinos point to being able to shop on the go and convenience as primary reasons for mobile shopping.

When it comes to new mobile technologies for business and online shopping, 33.5% of Filipinos are more familiar and likely to use mobile banking apps. Digital wallets come second at 17 percent, which has risen from 10.3 percent in the past years.

Raj Dhamodharan, Group Head, Digital Payments, Asia Pacific, MasterCard commented “New forms of mobile payment technology, such as MasterCard’s digital wallet MasterPass, are making transactions easier and safer, online, in-app and in-store. As more and more merchant apps provide shopping and services, consumers need a digital wallet that provides the best balance between security and convenience. We are already seeing that demand in many markets in Asia Pacific from India to Singapore to Australia. In Singapore for example consumers are using their MasterPass wallet to pay their bills and book taxis. In each of these cases we worked with merchants to enable safe and simple in app payments using MasterPass.”

Bangkok Claims Top Spot in MasterCard’s Inaugural Asia Pacific Destinations Index

PRNEWS Admin

Inbound arrivals to Bangkok grew 28.6% in 2015, with three Thai destinations securing top 10 positions

Bangkok has increased its lead over the pack as the region’s most popular destination, with international overnight visitors breaking the 20 million mark for the first time, according to the results of the inaugural MasterCard Asia Pacific Destinations Index. Second place was a close fight between Singapore and Tokyo.

The inaugural index provides a ranking of 167 destinations across Asia Pacific. Thailand dominated the top ten destinations, taking three of the top ten rankings, with Phuket securing fifth place (9.3 million) and the coastal city of Pattaya coming in at eighth place (8.1 million).

Half of the top 10 destinations saw 10 percent growth or more in international overnight visitor numbers between 2014 and 2015 – Osaka (54.0 percent), Tokyo (53.2 percent), Bangkok (28.6 percent), Phuket (15.5 percent) and Pattaya (10.0 percent).

The top 20 destinations of Asia Pacific represent around half of all international overnight arrivals to the 167 Asia Pacific destinations covered by the Index.

The top ten Asia Pacific destinations ranked by international overnight visitor numbers: Bangkok – 21.9 million, Singapore – 11.8 million, Tokyo – 11.8 million, Kuala Lumpur – 11.3 million, Phuket – 9.3 million, Seoul – 9.2 million, Hong Kong – 8.3 million, Pattaya – 8.1 million, Bali – 7.2 million, and Osaka – 6.5 million.

Asia Pacific’s tourism industry is the largest in the world by total contribution to GDP, having overtaken Europe in 2014. Tourism contributed US$2.27 trillion to Asia Pacific economies and 153.7 million jobs in 2015.

Bangkok also ranked number one in total expenditure at US$15.2 billion, with Seoul (US$14.4 billion) coming in second place, followed by Singapore (US$14.1 billion), Tokyo (US$11.9 billion) and Kuala Lumpur (US$10.5 billion).

The top ten Asia Pacific destinations by total expenditure are: Bangkok – US$15.2 billion, Seoul – US$14.4billion, Singapore – US$14.1 billion, Tokyo – US$11.9 billion, Kuala Lumpur – US$10.5 billion, Bali – US$10.3 billion, Taipei – US$9.5 billion, Phuket – US$8.0 billion, Hong Kong – US$6.7 billion, Sydney – US$6.0 billion.

Of the top 20 destinations by total expenditure per day, Shanghai (US$269 per day) welcomed the biggest spenders, followed by Beijing (US$262 per day), Seoul (US$258 per day), Singapore (US$255 per day) and Hong Kong (US$240 per day).

Matthew Driver, Group Executive, Global Products & Solutions, Asia Pacific, MasterCard, commented, “The tourism industry in Asia Pacific is continuing to show robust growth with an increasing number of destinations receiving well over five million visitors a year, driven by increased consumer wealth, particularly from China. Our Asia Pacific Destinations Index (APDI) 2015 reveals the continued resilience of the Thailand market for tourism led by a resurgent Bangkok, as well as the return to popularity of Japan for visitors as demonstrated by the more than 50 percent growth year on year in its top four destinations. Providing in-depth analysis of overnight arrivals in 167 Asia Pacific destinations, the APDI can help businesses and governments better understand the underlying components of in-bound tourism demand, so they can plan investment to ensure the sustainable development of the tourism industry. This is becoming increasingly important as tourist numbers continue to rise, as at current growth rates, Asia Pacific will have more than 500 million tourist arrivals by 2020.”

Bangkok Claims Top Spot in MasterCard’s Inaugural Asia Pacific Destinations Index

PRNEWS Admin

Inbound arrivals to Bangkok grew 28.6% in 2015, with three Thai destinations securing top 10 positions

Bangkok has increased its lead over the pack as the region’s most popular destination, with international overnight visitors breaking the 20 million mark for the first time, according to the results of the inaugural MasterCard Asia Pacific Destinations Index. Second place was a close fight between Singapore and Tokyo.

The inaugural index provides a ranking of 167 destinations across Asia Pacific. Thailand dominated the top ten destinations, taking three of the top ten rankings, with Phuket securing fifth place (9.3 million) and the coastal city of Pattaya coming in at eighth place (8.1 million).

Half of the top 10 destinations saw 10 percent growth or more in international overnight visitor numbers between 2014 and 2015 – Osaka (54.0 percent), Tokyo (53.2 percent), Bangkok (28.6 percent), Phuket (15.5 percent) and Pattaya (10.0 percent).

The top 20 destinations of Asia Pacific represent around half of all international overnight arrivals to the 167 Asia Pacific destinations covered by the Index.

The top ten Asia Pacific destinations ranked by international overnight visitor numbers: Bangkok – 21.9 million, Singapore – 11.8 million, Tokyo – 11.8 million, Kuala Lumpur – 11.3 million, Phuket – 9.3 million, Seoul – 9.2 million, Hong Kong – 8.3 million, Pattaya – 8.1 million, Bali – 7.2 million, and Osaka – 6.5 million.

Asia Pacific’s tourism industry is the largest in the world by total contribution to GDP, having overtaken Europe in 2014. Tourism contributed US$2.27 trillion to Asia Pacific economies and 153.7 million jobs in 2015.

Bangkok also ranked number one in total expenditure at US$15.2 billion, with Seoul (US$14.4 billion) coming in second place, followed by Singapore (US$14.1 billion), Tokyo (US$11.9 billion) and Kuala Lumpur (US$10.5 billion).

The top ten Asia Pacific destinations by total expenditure are: Bangkok – US$15.2 billion, Seoul – US$14.4billion, Singapore – US$14.1 billion, Tokyo – US$11.9 billion, Kuala Lumpur – US$10.5 billion, Bali – US$10.3 billion, Taipei – US$9.5 billion, Phuket – US$8.0 billion, Hong Kong – US$6.7 billion, Sydney – US$6.0 billion.

Of the top 20 destinations by total expenditure per day, Shanghai (US$269 per day) welcomed the biggest spenders, followed by Beijing (US$262 per day), Seoul (US$258 per day), Singapore (US$255 per day) and Hong Kong (US$240 per day).

Matthew Driver, Group Executive, Global Products & Solutions, Asia Pacific, MasterCard, commented, “The tourism industry in Asia Pacific is continuing to show robust growth with an increasing number of destinations receiving well over five million visitors a year, driven by increased consumer wealth, particularly from China. Our Asia Pacific Destinations Index (APDI) 2015 reveals the continued resilience of the Thailand market for tourism led by a resurgent Bangkok, as well as the return to popularity of Japan for visitors as demonstrated by the more than 50 percent growth year on year in its top four destinations. Providing in-depth analysis of overnight arrivals in 167 Asia Pacific destinations, the APDI can help businesses and governments better understand the underlying components of in-bound tourism demand, so they can plan investment to ensure the sustainable development of the tourism industry. This is becoming increasingly important as tourist numbers continue to rise, as at current growth rates, Asia Pacific will have more than 500 million tourist arrivals by 2020.”