Video: What Payment Technologies are hot and not in Asia
By Thomas Zink, Research Manager, IDC Financial Insights Asia/Pacific | 2015-04-25
According to PwC the payments industry has three attractive attributes: its large, its growing and its profitable. The consultant cites the rise of the middle class particularly in emerging markets as taking centerstage in driving the payments industry, and presenting untapped pools for payments companies, driven by accelerating adoption of mobile Internet.
According to IDC Financial Insights there is no single payments innovation strategy that exists across the region, instead the analyst breaks the region into three groups with each cluster leading in a particular payment trend: mobile payments, mobile money and card payments (see below).
Thomas Zink, Research Manager, IDC Financial Insights Asia/Pacific, provides a quick overview of the challenges and opportunities within the region's payments market, including a brief discussion on technologies that are winning consumers' hearts and wallets.