Asia Pacific continues to lead the world in the adoption of local payment methods - new research from Boku reveals [Yahoo! Finance]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: Yahoo! Finance
BANGKOK, April 24, 2024 BUSINESS WIRE Boku , the global network for localised payment solutions, has released a global research report entitled ‘ 2024 Global Ecommerce Report: The Changing World of Payments . The report reveals the increasing preference for local payment methods and the continued decline in the market share of traditional card payments. Produced in collaboration with Juniper Research, the report surveyed 10,500 consumers and analysed data from 37 major markets across the globe to identify global, regional and country specific trends. The findings highlight significant and rapid consumer shifts in ecommerce payments away from the traditional card networks (and in emerging economies cash on delivery) towards local payment methods such as digital wallets. Account to Account (A2A) payments (instant payments and bank transfers) such as PromptPay in Thailand, PayNow in Singapore and PayTo in Australia are revealed as the fastest-growing payment method within ecommerce.
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