Asia-Pacific P2P Payment Market, By Transaction Mode (Mobile Web Payments, Near Field Communication, SMS/ Direct Carrier Billing, Other Transaction Modes); By Payment Type (Remote, Proximity); By Application (Media & Entertainment, Energy & Utilities, Healthcare, Retail, Hospitality & Transportation, Other Applications); By End User (Personal, Business); By Country (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of APAC); Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Asia-Pacific P2P Payment Market Size Booming at CAGR of 20.2% During 2023–2029
Asia-Pacific P2P payment market is gaining traction because of the expansion of internet banking, increased smartphone adoption, and greater convenience of online payments, which appeal to a younger generation.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Asia-Pacific P2P payment market size to zoom at an impressive CAGR of 20.2% during the forecast period between 2023 and 2029. The expansion of internet banking, increased smartphone adoption, and greater convenience of online payments, which appeal to a younger generation, are all factors in the growth of the Asia-Pacific P2P payment industry. The P2P payments market's competitors are introducing their applications with compelling features and encrypted payments more often in the Asia-Pacific region. The Asia-Pacific P2P payment industry is being driven by apps, such as Kakaopay, Google Pay, PhonePay, PromptPay, and Naver Pay, which have already made their impact on the market and are luring consumers towards P2P payment ecosystem.
Asia-Pacific P2P Payment Market – Overview
Peer-to-Peer (P2P) payments are a method by which a user can send money from his bank account to another person's account using the internet or a mobile device as the digital medium. P2P payments enable users to transfer money quickly while protecting the confidentiality of their bank account information. The recipient's email address or phone number is all that is needed to send a payment; one may add an individual as a contact within the app using one of those details. It is an alternative payment method that enables quicker and more secure transactions.
Asia-Pacific P2P Payment Market – By Application
Based on application, Asia-Pacific P2P payment market is segmented into media & entertainment, energy & utilities, healthcare, retail, hospitality & transportation, and other applications. The retail segment held the highest share of the market in 2022 and is projected to dominate the market during the forecast period as well due to its convenience for both consumers and business owners. P2P payment methods provide several benefits, including quick payments, the convenience of use, no need to carry cash, no worry about theft, elevated client status, and access to exclusive deals.
Impact of COVID-19 on the Asia-Pacific P2P Payment Market
The unprecedented COVID-19 pandemic emerged as a booster for Asia-Pacific P2P payment market. The coronavirus is said to be spread through physical toughness, which means it can be initiated through the transfer of cash hand-to-hand. Although the spending power of consumers declined during the lockdown period, P2P payment apps emerged as a substitute for cash payments for the purchase of essential goods. According to a report published by the World Bank, after the pandemic began, more than 80 million individuals in India and over 100 million adults in China made their first digital merchant payment. As a result, the outbreak is said to provide huge opportunities to the Asia-Pacific P2P payment market during the forecast period.
Competitive Landscape
Major players operating in Asia-Pacific P2P payment market include ACI Worldwide, PayPal, Inc., Novatti Group Ltd, Global Payments Inc., Visa, Stripe, Inc., Google, LLC, Finastra., SAMSUNG, Amazon Web Services, Inc., Financial Software & Systems Pvt. Ltd., Aurus Inc., Adyen, and Fiserv, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific P2P Payment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific P2P Payment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Asia-Pacific P2P Payment Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Growth in Adoption of Smart Phones
- 3.2.1.2. Increasing Internet Adoption
- 3.2.1.3. Increased Government Support
- 3.2.2. Restraints
- 3.2.2.1. Lack of Technical Expertise
- 3.2.3. Opportunities
- 3.2.3.1. Technological Advancement
- 3.2.3.2. Growing Trend of E-Commerce Shopping
- 3.2.4. Challenges
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Asia-Pacific P2P Payment Market
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Transaction Mode
- 4.2.1.1. Mobile Web Payments
- 4.2.1.2. Near Field Communication
- 4.2.1.3. SMS/ Direct Carrier Billing
- 4.2.1.4. Other Transaction Modes
- 4.2.2. By Payment Type
- 4.2.2.1. Remote
- 4.2.2.2. Proximity
- 4.2.3. By Application
- 4.2.3.1. Media & Entertainment
- 4.2.3.2. Energy & Utilities
- 4.2.3.3. Healthcare
- 4.2.3.4. Retail
- 4.2.3.5. Hospitality & Transportation
- 4.2.3.6. Other Applications
- 4.2.4. By End User
- 4.2.4.1. Personal
- 4.2.4.2. Business
- 4.2.5. By Country
- 4.2.5.1. China
- 4.2.5.1.1. By Transaction Mode
- 4.2.5.1.2. By Payment Type
- 4.2.5.1.3. By Application
- 4.2.5.1.4. By End User
- 4.2.5.2. India
- 4.2.5.2.1. By Transaction Mode
- 4.2.5.2.2. By Payment Type
- 4.2.5.2.3. By Application
- 4.2.5.2.4. By End User
- 4.2.5.3. Japan
- 4.2.5.3.1. By Transaction Mode
- 4.2.5.3.2. By Payment Type
- 4.2.5.3.3. By Application
- 4.2.5.3.4. By End User
- 4.2.5.4. South Korea
- 4.2.5.4.1. By Transaction Mode
- 4.2.5.4.2. By Payment Type
- 4.2.5.4.3. By Application
- 4.2.5.4.4. By End User
- 4.2.5.5. Australia & New Zealand
- 4.2.5.5.1. By Transaction Mode
- 4.2.5.5.2. By Payment Type
- 4.2.5.5.3. By Application
- 4.2.5.5.4. By End User
- 4.2.5.6. Indonesia
- 4.2.5.6.1. By Transaction Mode
- 4.2.5.6.2. By Payment Type
- 4.2.5.6.3. By Application
- 4.2.5.6.4. By End User
- 4.2.5.7. Malaysia
- 4.2.5.7.1. By Transaction Mode
- 4.2.5.7.2. By Payment Type
- 4.2.5.7.3. By Application
- 4.2.5.7.4. By End User
- 4.2.5.8. Singapore
- 4.2.5.8.1. By Transaction Mode
- 4.2.5.8.2. By Payment Type
- 4.2.5.8.3. By Application
- 4.2.5.8.4. By End User
- 4.2.5.9. Philippines
- 4.2.5.9.1. By Transaction Mode
- 4.2.5.9.2. By Payment Type
- 4.2.5.9.3. By Application
- 4.2.5.9.4. By End User
- 4.2.5.10. Vietnam
- 4.2.5.10.1. By Transaction Mode
- 4.2.5.10.2. By Payment Type
- 4.2.5.10.3. By Application
- 4.2.5.10.4. By End User
- 4.2.5.11. Rest of APAC
- 4.2.5.11.1. By Transaction Mode
- 4.2.5.11.2. By Payment Type
- 4.2.5.11.3. By Application
- 4.2.5.11.4. By End User
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. Asia-Pacific P2P Payment Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 6. Impact of Covid-19 on Asia-Pacific P2P Payment Market
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. ACI Worldwide
- 7.2. PayPal, Inc.
- 7.3. Novatti Group Ltd
- 7.4. Global Payments Inc.
- 7.5. Visa
- 7.6. Stripe, Inc.
- 7.7. Google, LLC
- 7.8. Finastra.
- 7.9. SAMSUNG
- 7.10. Amazon Web Services, Inc.
- 7.11. Financial Software & Systems Pvt. Ltd.
- 7.12. Aurus Inc.
- 7.13. Adyen
- 7.14. Fiserv, Inc.
- 7.15. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Region
- 9.5. Assumptions & Limitations
- *Financial information of case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
- List Of Figures
- Figure 1 Asia-Pacific P2P Payment Segmentation
- Figure 2 Asia-Pacific P2P Payment Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Asia-Pacific P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 5 Asia-Pacific P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 6 Asia-Pacific P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 7 Asia-Pacific P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 8 Asia-Pacific P2P Payment Market Share, By End User, By Value, 2019–202
- Figure 9 Asia-Pacific P2P Payment Market Share, By Country, By Value, 2019–202
- Figure 10 China P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 11 China P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 12 China P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 13 China P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 14 China P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 15 India P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 16 India P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 17 India P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 18 India P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 19 India P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 20 Japan P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 21 Japan P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 22 Japan P2P Payment Market Share, By Payment Type, By Value, 2019–2
- Figure 23 Japan P2P Payment Market Share, By Application, By Value, 2019–202
- Figure 24 Japan P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 25 South Korea P2P Payment Market Size, By Value (USD Million), 2019–2
- Figure 26 South Korea P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 27 South Korea P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 28 South Korea P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 29 South Korea P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 30 Australia & New Zealand P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 31 Australia & New Zealand P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 32 Australia & New Zealand P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 33 Australia & New Zealand P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 34 Australia & New Zealand P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 35 Indonesia P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 36 Indonesia P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 37 Indonesia P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 38 Indonesia P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 39 Indonesia P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 40 Malaysia P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 41 Malaysia P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 42 Malaysia P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 43 Malaysia P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 44 Malaysia P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 45 Singapore P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 46 Singapore P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 47 Singapore P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 48 Singapore P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 49 Singapore P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 50 Philippines P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 51 Philippines P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 52 Philippines P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 53 Philippines P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 54 Philippines P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 55 Vietnam P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 56 Vietnam P2P Payment Market Share, By Transaction Mode, By Value, 2019–202
- Figure 57 Vietnam P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 58 Vietnam P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 59 Vietnam P2P Payment Market Share, By End User, By Value, 2019–2029
- Figure 60 Rest of APAC P2P Payment Market Size, By Value (USD Million), 2019–2029
- Figure 61 Rest of APAC P2P Payment Market Share, By Transaction Mode, By Value, 2019–2029
- Figure 62 Rest of APAC P2P Payment Market Share, By Payment Type, By Value, 2019–2029
- Figure 63 Rest of APAC P2P Payment Market Share, By Application, By Value, 2019–2029
- Figure 64 Rest of APAC P2P Payment Market Share, By End User, By Value, 2019–2029
- List Of Tables
- Table 1 Asia-Pacific P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 2 Asia-Pacific P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 3 Asia-Pacific P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 4 Asia-Pacific P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 5 Asia-Pacific P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 6 Asia-Pacific P2P Payment Market Size, By Country, By Value, 2019–2029
- Table 7 China P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 8 China P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 9 China P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 10 China P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 11 China P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 12 India P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 13 India P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 14 India P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 15 India P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 16 India P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 17 Japan P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 18 Japan P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 19 Japan P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 20 Japan P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 21 Japan P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 22 South Korea P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 23 South Korea P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 24 South Korea P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 25 South Korea P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 26 South Korea P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 27 Australia & New Zealand P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 28 Australia & New Zealand P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 29 Australia & New Zealand P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 30 Australia & New Zealand P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 31 Australia & New Zealand P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 32 Indonesia P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 33 Indonesia P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 34 Indonesia P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 35 Indonesia P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 36 Indonesia P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 37 Malaysia P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 38 Malaysia P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 39 Malaysia P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 40 Malaysia P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 41 Malaysia P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 42 Singapore P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 43 Singapore P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 44 Singapore P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 45 Singapore P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 46 Singapore P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 47 Philippines P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 48 Philippines P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 49 Philippines P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 50 Philippines P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 51 Philippines P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 52 Vietnam P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 53 Vietnam P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 54 Vietnam P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 55 Vietnam P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 56 Vietnam P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 57 Rest of APAC P2P Payment Market Size, By Value (USD Million), 2019–2029
- Table 58 Rest of APAC P2P Payment Market Size, By Transaction Mode, By Value, 2019–2029
- Table 59 Rest of APAC P2P Payment Market Size, By Payment Type, By Value, 2019–2029
- Table 60 Rest of APAC P2P Payment Market Size, By Application, By Value, 2019–2029
- Table 61 Rest of APAC P2P Payment Market Size, By End User, By Value, 2019–2029
- Table 62 ACI Worldwide Company Overview
- Table 63 ACI Worldwide Financial Overview
- Table 64 PayPal, Inc. Company Overview
- Table 65 PayPal, Inc. Financial Overview
- Table 66 Novatti Group Ltd Company Overview
- Table 67 Novatti Group Ltd Financial Overview
- Table 68 Global Payments Inc. Company Overview
- Table 69 Global Payments Inc. Financial Overview
- Table 70 Visa Company Overview
- Table 71 Visa Financial Overview
- Table 72 Stripe, Inc. Company Overview
- Table 73 Stripe, Inc. Financial Overview
- Table 74 Google, LLC Company Overview
- Table 75 Google, LLC Financial Overview
- Table 76 Finastra. Company Overview
- Table 77 Finastra. Financial Overview
- Table 78 SAMSUNG Company Overview
- Table 79 SAMSUNG Financial Overview
- Table 80 Amazon Web Services, Inc. Company Overview
- Table 81 Amazon Web Services, Inc. Financial Overview
- Table 82 Financial Software & Systems Pvt. Ltd. Company Overview
- Table 83 Financial Software & Systems Pvt. Ltd. Financial Overview
- Table 84 Aurus Inc. Company Overview
- Table 85 Aurus Inc. Financial Overview
- Table 86 Adyen Company Overview
- Table 87 Adyen Financial Overview
- Table 88 Fiserv, Inc. Company Overview
- Table 89 Fiserv, Inc. Financial Overview
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