Asia-Pacific Integrated Payments Markets and Investment Opportunities Report 2022: Market Expected to Grow 41.8% to $54.29 Billion in 2022 – Forecast to 2029

DUBLIN, March 08, 2022–(BUSINESS WIRE)–The “Business and Investment Opportunities in Integrated Payments in Asia-Pacific – Q1 2022 Update” report has been added to from ResearchAndMarkets.com offer.

The Asia-Pacific integrated payments industry is expected to grow 41.8% on a yearly basis to reach US$54,298.7 million in 2022.

The in-app payment industry is expected to grow steadily over the forecast period, registering a CAGR of 23.8% during 2022-2029. Integrated payments revenue in the region will grow from US$54,298.7 million in 2022 to US$170,981.6 million by 2029.

Asia-Pacific is home to half of the world’s internet users, with a median age of just 30. How these digitally conscious customers pay for products and services is critical to their entire digital experience. As a result, Asia has become a testing ground for integrated payment innovation.

Overseas Players Launch New Solutions to Expand Presence in Japan

The Covid-19 pandemic has accelerated the expansion of the e-commerce sector in Japan, and as more Japanese embrace online shopping, electronic payments are becoming increasingly popular. With the growing demand for transparent payment options in Japan, competition is intensifying among market players to deliver an enhanced customer experience. Moreover, market players are launching new products to acquire more customers in Japan and exploit this exciting opportunity.

  • In May 2021, Dutch payment platform provider Adyen launched a new solution to expand its sourcing capabilities in Japan. This new launch follows the launch of Adyen’s local acquiring capabilities in Australia, New Zealand, Hong Kong, Malaysia and Singapore.

  • This announcement expands Adyen’s local acquisition capabilities in Asia Pacific. This new launch is fueled by growing demand from international and domestic merchants to better serve Japanese buyers.

Market players obtain new licenses in Singapore to expand their presence in the country

Singapore’s long history of supporting new industries is why many of the world’s most innovative companies are eager to expand their presence in Singapore. The country has become a global hotspot for fintech startups.

However, customers in Singapore still prefer to make cash payments. While Singapore has no plans to completely replace the use of cash with contactless payment technologies anytime soon, the Monetary Authority of Singapore has sponsored several initiatives changing the way residents of the city-state use payment. ‘money.

With this growing support from the Singapore government, market players are getting the necessary licenses to expand their presence in the country.

  • In May 2021, a global platform provider, Adyen Singapore Pte Ltd, received approval from the Monetary Authority of Singapore (MAS). Under this approval, the company can implement domestic merchant acquiring and money transfer services under the Payment Services Act (PSA) 2019.

  • In January 2022, Australian fintech platform Airwallex expanded its presence in Singapore. The company has obtained its Major Payment Institution (MPI) license from the Monetary Authority of Singapore.

With the Singapore government’s growing support for fintech companies, the country is expected to see an influx of new product launches and technology development in payment platforms over the coming quarters.

Market players team up to develop cross-border payment capabilities

With ever-increasing competition in the payments industry, market players are coming together to combine their expertise and jointly develop cross-border payment capabilities.

  • In November 2021, Singapore-based cross-border payment provider and fintech company Thunes entered into a strategic partnership with UK-based financial software provider Finastra Limited.

  • Under this partnership, the companies will enable Finastra customers to access new payment rails in more than 115 markets. The customer will gain access to new payment rails in more than 115 markets, allowing them to send money to countries or use payment methods that they could not use before. The launch of the new product is expected to provide an improved cross-border payment experience.

Scope

In-App Payments Market Size and Forecast

Integrated payment by consumer segments, 2020 – 2029

Integrated payment by end-use sector, 2020 – 2029

  • Integrated payment in retail and consumer goods

  • Integrated payment in digital products and services

  • Payment integrated into utility bill payment

  • Integrated Payment in Travel and Hospitality

  • Integrated payment in leisure and entertainment

  • Integrated payment in health and well-being

  • Integrated payment in office supplies and equipment

  • Embedded payment in Other

The region and countries included in this report are:

  • Australia

  • Bangladesh

  • China

  • India

  • Indonesia

  • Japan

  • Malaysia

  • South Korea

  • Philippines

  • Singapore

  • Taiwan

  • Thailand

  • Vietnam

For more information on this report, visit https://www.researchandmarkets.com/r/bpcy01

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220308006057/en/

contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Officer
[email protected]

For EST business hours, call 1-917-300-0470
For US/CAN call toll free 1-800-526-8630
For GMT office hours call +353-1-416-8900

About Wendy Hall

Check Also

Japanese scholars provide e-learning materials to Ukrainian children

Japanese scholars have set up e-learning materials to help Ukrainian children continue their education. Many …