Power Your Growth in Asia’s Leading eCommerce Market with Localized Payment Solutions

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.

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

* Source: Statista. 2023

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

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

eWallets are the most popular payment method in Indonesia*.

* Source: IDC InfoBrief, 2022

Japan's METI (Ministry of Economics, Trade and Industry) 2021 eCommerce survey estimated cross-border eCommerce was under 3% of the country's domestic B2C eCommerce market. The fragmented payment system, and the need to localize operations for the Japanese consumer can pose significant obstacles for most. Japan can be a complex region to enter as a foreign company, but it doesn't have to be.

The country's eCommerce is projected to be one of the largest in Southeast Asia, with an annual growth rate of 13.25%*.

* Source: Statista, 2023

The fastest growing alternative payment method in Pakistan,  a country with a population of over  241 million, is the eWallet. eWallets such as JazzCash and Easypaisa making eCommerce, transactions and coverage easier than ever for businesses and consumers alike. Previously, many digital purchases were paid using cash-on-delivery (CoD), but this is slowly changing as internet access becomes more common.

The rapid growth of internet penetration has risen rapidly, averaging over 35% per year. This has caused a shift in many businesses to become mobile first. Digital transactions and internet banking are expected to grow as the over 100 million Internet subscribers become more acquainted with eCommerce.

*Sources: worldometers.info & trade.gov

With a population of 69 million people, Thailand has a GDP of US$ 500 billion and an eCommerce market value of US$ 26 billion. Card payments lead as the payment method of choice in the Land of Smiles at 25.7% of market share with bank transfers (23.8%) and eWallets (22.8%) close behind, although the usage of digital wallets is predicted to increase and gain a market share of 28%.

Merchants selling into Vietnam can accept international cards such as Visa, MasterCard and UCB, as well as local credit cards and wallets such as VTC Pay, Vietcombank, Techcombank, and more.