Online payment processors in Asia

Features

eCommerce growth

eCommerce revenue in Asia is expected to reach USD 2.82 trillion by 2027*. * Source: Statista, 2023
eWallets phenomenon

eWallets have emerged as the preferred payment method in Asia, accounting for 69% of the total eCommerce purchases in the region*. * Source: Statista, 2023
Internet users

The internet penetration rate in Asia doubled from 2011 to 2022, reaching 67.4%*. * Source: Statista, 2023
Online shoppers

The number of online shoppers in Asia is forecast to reach 3.38 billion by 2027*. * Source: Statista, 2023

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Saudi Arabia

In Saudi Arabia, with a population of over 37 million, eCommerce growth has been pushed by a very high income level, good logistics within cities, and a high level of social media usage. Saudi Arabia is in the top three countries with the highest internet penetration rate (98%) sitting next to Norway and the United Arab Emirates. To put this in perspective, the global average is 64%.

In 2022 there were over 19.3 million online shoppers. Saudi Arabia experiences a hybrid consumer culture – consumers are willing to go to physical stores as well as purchasing on the online versions.

Online bank transfers
- Riyad Bank
- SABB
- Al Rajhi Bank
- anb
- NCB

Bangladesh

Bangladesh is a fast-growing eCommerce market, mainly due to the boost received from the Bangladesh Bank since the late 2000s. With a significant dependency on the Cash-on-Delivery payment method, currently used in 90% of online transactions, the credit and debit card usage is gradually gaining speed. Twelve million people (7% of the country’s population) use debit cards, and approximately 1 million (less than 1%) use credit cards. Understanding Bangladesh consumers and offer local payment methods are the key for all merchants looking to set their footprint in this market.

Credit and debit cards
- Visa
- Mastercard
- American Express
Online bank transfers
- Standard Charterd
- MidlandBank
- Dhaka Bank
- MTB
- City Bank
- Brac Bank

China

China has the largest eCommerce revenue in the world: USD 1.305B*.

* Source: Statista. 2023

Credit and debit cards
- Union Pay
Online bank transfers
- Bank of China
- Agricultural Bank of China
- China Construction Bank
- China Minsheng Bank
- SPD Bank
- China Everbright Bank
- Postal Savings Bank of China
- China Merchants Bank
- Bank of Beijing
- Bank of Communications
- Bank of Jiangtsu
- Bank of Ningbo
- Bank of Shangai
- China Bohai Bank
- China Citic Bank
- China Guangfa Bank
- China Zheshang Bank
- Hengfeng Bank Co.
- ICBC
- Industrial Bank Co., Ltd
- Ping An Bank
- Shanghai Pudong Development Bank

Learn more about China View Documentation

Philippines

The projected market volume is expected to reach $25 billion by 2027.

Credit and debit cards
- Visa
- Mastercard
Wallets
- GrabPay
- Paymaya
- GCash
Cash-based payments
- Seven Eleven
Online bank transfers
- Union Bank

Learn more about Philippines View Documentation

India

The world's most populated country is growing in business opportunities.

Credit and debit cards
- Visa
- Mastercard
- RuPay
- Maestro
Wallets
- Freecharge
- Jio
- Ola Money
- MobikWik
- PayTM
- Phone PE
Online bank transfers
- Canara Bank
- State Bank of India
- Union Bank of India
- Axis Bank
Unified payment service (UPI)
- UPI
Pay later
- Simpl
- ICICI Bank
- Epay Later

Learn more about India View Documentation

Indonesia

eWallets are the most popular payment method in Indonesia*.

* Source: IDC InfoBrief, 2022

Credit and debit cards
- Union Pay
- Visa
- Mastercard
- American Express
- JCB
- Diners
Wallets
- QRIS
- Link aja
- Dana
- OVO
- GoPay
- ShopeePay
Cash-based payments
- Lawson
- DAN+DAN
- Indomaret
- Alfamart
Online bank transfers
- Maybank
- ATM Bersama
- Alto
- Prima
- Permata Bank
- BNI
- Mandiri
- Bank Bri
- BCA
- Flip