The spread of COVID-19 Brings Upswing in Mobile Payments in Asia Says yStats.com Report A new report from Hamburg-based business intelligence company yStats.com, “Top Mobile Payment Service Providers in Select Asian Countries 2020 and Their Reaction to the COVID-19 Crisis” provides details on the top mobile payment providers in the region. The report includes data on the effect of the 2020 coronavirus pandemic on the top M-PSPs in nine economies of the region, plus overviews of their activities in those countries. Full Report link: https://bit.ly/37sarGt

1. PRESS RELEASE
Hamburg, December 17th, 2020
The spread of COVID-19 Brings Upswing in Mobile Payments
in Asia Says yStats.com Report
A new report from Hamburg-based business intelligence company yStats.com, “Top Mobile Payment Service
Providers in Select Asian Countries 2020 and Their Reaction to the COVID-19 Crisis” provides details on the top mobile
payment providers in the region. The report includes data on the effect of the 2020 coronavirus pandemic on the top M-
PSPs in nine economies of the region, plus overviews of their activities in those countries.
Mobile payments gain momentum during the health crisis
Altogether, despite cash still being the king in the Asian region, the revenues of the mobile payment services market in the
Asian region are growing steadily during the coronavirus pandemic, and specifically in the larger economies such as India, Australia,
Japan, and Singapore. These economies are forecasted to top the growth ranking in the Asia-Pacific region through 2025, says the new
yStats.com report. Nevertheless, Asia consists of economies that are very diverse in terms of mobile payment methods adoption. For
instance, a survey cited by the new yStats report, shows that in Japan, in 2020, almost two-fifth of adults use smartphone payments
daily. Meanwhile, in the Philippines the mobile payments adoption rate is much lower; however, the market is promising, as the
adoption of new E-Wallet accounts is growing much faster than the bank account penetration rate.
Amid the COVID-19 pandemic, consumers in the countries of Asia prefer their local M-PSPs
Another interesting fact highlighted in the yStats.com report is that consumers in the Asian region mostly opt for the home-
grown mobile payment service providers, and not for the global giants such as PayPal or Google Pay. This has especially helped the local
M-PSPs keep their heads above water after the onset of the pandemic. Moreover, most of them have significantly increased their user
base. In Malaysia, for example, the government used digital wallets to distribute funds to businesses and communities affected by the
health crisis.
For further information, see: https://www.ystats.com/market-reports/top-mobile-payment-service-providers-in-select-asian-countries-2020-and-their-reaction-to-the-covid-
19-crisis/
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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.