New yStats.com publication tracks growth of alternative payments in Asia-Pacific region Hamburg-based business research company yStats.com’s new report “Asia-Pacific POS Payment Methods 2020 & COVID-19’s Impact,” provides detailed insight into the changes taking place in the Asia-Pacific region regarding the practices of point of sale payments, including the acceleration of the trend away from cash due to the pandemic. Full report here: https://bit.ly/35WiFXd

1. PRESS RELEASE
Hamburg, September 16th, 2020
New yStats.com publication tracks growth of contactless payment
methods in the Asia-Pacific region
Hamburg-based business research company yStats.com’s new report “Asia-Pacific POS Payment Methods 2020 &
COVID-19’s Impact,” provides detailed insight into the changes taking place in the Asia-Pacific region regarding the
practices of point of sale payments, including the acceleration of the trend away from cash due to the pandemic.
The use of digital in-store payments increased in the Asia-Pacific region during the COVID-19 pandemic
The COVID-19 health crisis has affected the payment preferences at point of sale for shoppers in the Asia-Pacific countries.
Multiple sources cited in the yStats.com publication indicate a large share of consumers in this region who have changed their POS
payment practice because of the pandemic. One of the changes is the avoidance of cash, which is considered by some as a vector of the
virus. Contactless payments are among the preferred alternative methods, also motivated by the pandemic.
Consumers in Asia-Pacific countries turn to smartphones as a payment option during the COVID-19 health crisis
The use of a mobile device for making payments is increasing globally, as the pandemic accelerates the acceptance of this
practice. The use of mobile wallets stored in a smartphone or the QR or barcode reader of a device for payment are among the top
trends detailed in the new yStats.com publication. This report also reveals the notable percentage of consumers in Australia that used
mobile payment apps which are not affiliated with banks during the pandemic in March 2020.
The Shift from cash payments to other alternative payment methods is gaining ground in the Asia-Pacific countries during the
pandemic
While there was a general trend towards the decreased use of cash before the coronavirus crisis, this event has accelerated the
trend throughout the Asia-Pacific region. The yStats.com report provides details on the share of consumers using cash and its
alternatives in major and developing economies, including the figure that cash payment accounted for around only a quarter of all retail
payments in two advanced markets of the Asia-Pacific region even before the pandemic.
For further information, see: https://www.ystats.com/market-reports/asia-pacific-pos-payment-methods-2020-and-covid-19s-impact/
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-date and
objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise, covering more than
100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-Commerce, Cross-Border E-
Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the Wall Street
Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online Payment.