Report Name: Your global guide to alternate payments, 2nd Edition
In the global market, about 17% of total transactions were made using e-wallet in year 2012.
Key points on e-wallets:
- Of all the alternate means of payments, e-wallet can be easily identified to be the fastest growing payment method globally, and it is extensively used predominantly for the purchase digital and durable goods.
- In some of the better developed e-commerce markets like US and UK, traditional card providers like Visa are offering new e-wallet products like V.me, which are being increasingly accepted by the merchants.
- Growth of the e-wallet segment can be largely attributed to the internet savvy young shoppers, who use e-wallets for online transactions.
- In Latin America, e-wallet constitutes about 10% of the payments market, which is lower than bank transfers (which account for 13% of the total market).
- In APAC, e-wallet constitutes about 23% of total transactions, and this trend is expected to grow further in the coming years.
- China is one of the largest markets for e-wallet, and about 44% of total e-commerce transactions in the country are done using e-wallet. AliPay is the market leader in China with about 30% market share, followed by Tenpay, which boasts of about 13.3% market share.
Read more...Link to the report