Online Payments | One-Stop Integration with 10+ Local Payment Methods in Asia-Pacific
Company News | 2023-11-23 01:11:00
In 2022, the Asia-Pacific region maintained its status as the largest e-commerce market in the world, with total transactions reaching nearly $4.2 trillion. This accounted for almost half of the global e-commerce market. The figure marks a 41.5% increase from $3 trillion in 2021, showcasing the rapid growth of e-commerce in the region over the past year.
With over eight years of experience in the global market, PhotonPay has developed a deep understanding of the varied payment landscapes in emerging markets. To help merchants capitalize on the potential of the Asia-Pacific region, PhotonPay now provides a one-stop integration with over 10 local payment methods, enabling merchants to connect with over a billion consumers across Asia-Pacific.
Connecting to 10+ Local Payment Methods in Asia-Pacific
Indonesia
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OVO: One of Indonesia's leading digital wallets, founded in 2017 under Lippo Group. Nearly 40% of consumers use digital wallets like OVO for online purchases.
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LinkAja: A state-owned digital wallet established in 2019, one of Indonesia's top five wallets. It aims to increase financial inclusion, especially for 48% of the population without bank accounts.
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DANA: A mainstream digital wallet in Indonesia, launched in 2017. It supports payments for online merchants like Lazada, Bukalapak, and digital entertainment platforms like Spotify and TikTok.
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Akulaku Paylater: Launched in 2016, it offers virtual credit card installment loans for those without credit cards. It is popular in Indonesia, the Philippines, Vietnam, and Malaysia.
* Card Payments: Card payments account for 31% of all online transactions in Indonesia.
Malaysia
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Touch 'n Go: A popular e-wallet launched in 2017, widely used for transportation, e-commerce, retail, and utility payments.
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Boost: One of the fastest-growing local wallets, created by telecom giant Axiata. It partners with online and offline stores, including Shopee and Lazada, and entertainment services like PlayStation and Spotify.
* Card Payments: Similar to Indonesia, card payments make up about 30% of the market, primarily through credit cards issued by international organizations.
Thailand
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True Money: Established in 2003, this is Thailand's most popular digital wallet, used for various payments, including shopping, gaming, and utility bills at stores like 7-Eleven.
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Rabbit LINE Pay: A joint venture by LINE, BTS Group, and AIS, Rabbit LINE Pay is one of the leading mobile payment platforms in Thailand, integrating social, gaming, and financial services.
* Card Payments: The primary method for online shopping, accounting for 26% of transactions.
Philippines
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GCash: The largest e-wallet in the Philippines, developed by Globe under Ayala Group. It enables easy online banking, shopping, and payments at various retail locations.
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BPI: Established in 1943, BPI is the Philippines' oldest bank, offering extensive online payment services to over 600 partner merchants.
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BillEase: A popular Buy Now Pay Later provider launched in 2017, offering installment plans that can be repaid through various channels like InstaPay, PESONet, and other e-wallets.
South Korea
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KaKaoPay: Launched in 2014, it is Korea’s most popular mobile payment and digital wallet service, offering payments, bill payments, insurance, loans, and investment services.
* Card Payments: The most common payment method in Korea, with 72% of transactions made via bank cards, reflecting the country’s high bank account penetration rate.
With strong compliance capabilities and a flexible, efficient global payment network, PhotonPay Online Payments provides local payment solutions for businesses entering the Asia-Pacific market. These services cover industries such as cross-border e-commerce, digital entertainment, SaaS, digital marketing, and app development, offering a simple, secure, and convenient integration process.
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Latest Announcements
PhotonPay Becomes a Mastercard Issuer in Hong Kong
To launch Mastercard Commercial Credit Card to help businesses better navigate market volatility
Company News |
2024-11-11 01:00:00
PhotonPay Partners with Coshine for Issuer Processing
PhotonPay, an innovative digital financial infrastructure service provider, has announced a strategic partnership with Coshine to optimize the capability of Photon Card through its issuer processing services.
Company News |
2024-11-07 11:00:00
PhotonPay and WotoKOL Enter Strategic Partnership
Recently, PhotonPay, an innovative digital financial infrastructure platform, announced a strategic partnership with WotoKOL, a leading global content marketing platform for international brands. Both
Company News |
2024-09-13 11:49:39
