Research recently released from international online payment solutions provider Adyen really underlines the important role financial technology is playing in the emerging Asia Pacific region.
Adyen runs a Mobile Payment index that tracks online and mobile payment information. The data collected by the firm over the past year has shown the rapid expansion and adoption of web browser, mobile and other online payment platforms throughout Asia.
Adyen’s research shows that online payments through mobile devices have grown so much that they now constitute over one-third of all online payments globally. The research also showed that repeat customers who shop over mobile devices is surging in Asia, bringing the value of transactions and online payment platforms to an all-time high.
Payment metrics in Europe previously grew to record levels, but have remained mostly stagnant compared to the growth seen in Asia.
The research also shows that online and mobile payment adoption rates are exploding in Asia, with payments made through Alipay increasing 44 percent through the final quarter of 2015.
One interesting note the researched revealed was the changing dynamics over which type of device online shoppers used; traditional computer or laptop, smartphone or a tablet device. For the first time, mobile devices have surpassed tablets as the preferred device for online shopping.
However, over the same period, the value of the average online transaction switched from computers to tablets, which also outpaced the average transaction value of mobile devices.