The Paypers sat down with Jordan Graison from Limonetik to discuss about the main payment methods in APAC region
What is the size of the ecommerce market in Asia-Pacific and which countries in the region show the highest economic growth?
According to Ecommerce Foundation’s Global B2C E-commerce Report 2016, B2C ecommerce in the APAC region represents USD 1 trillion – nearly as much as the European and North American ecommerce businesses together. APAC registered a 28% growth rate, mainly driven by China, where the penetration of Internet is the highest, followed by South Korea, Japan, and Australia, with more than 90% compared to the three other countries (50% in China, with a higher rate in tier 1 and tier 2 cities – Shanghai, Beijing, Shenzhen, Guangzhou).
ASEAN (Philippines, Vietnam, Thailand, Indonesia, and others) and South Asian (Bangladesh, Pakistan, Sri Lanka, India, and others) countries experience the highest growth rate due to the rapid expansion of cheaper smartphones and mobile internet.