An Study Of Ecommerce Payment Trends

Global pandemic in 2020 led to a significant change in consumer buying patterns. According to Google’s e-Conomy SEA 2020 Report, customers’ use of cash decreased from 48% prior to the pandemic to 37% after, while eWallet transactions increased from about 18% before COVID-19 to 25% after. Online shopping has become as the go-to technique for purchasing due to the lockdown that many nations are experiencing.

Due to this, Southeast Asian eCommerce saw tremendous growth. The health crisis hastened digitization and altered what was bought, such as groceries and cleaning products, even if eCommerce trends were already gaining pace in this area. Every nation has different consumer purchasing patterns. We explore them further using data from PPRO’s most recent report on the top five markets in the area.


34% of purchases in Indonesia are made using cards, the majority of which are made with local cards rather than well-known international brands. Bank transfers, used 29% of the time, are the second most popular payment method. The most common payment methods after bank transfers are eWallets (17%) and cash (13%), respectively.

In Indonesia, there are numerous eWallet choices, such as GoPay, which has over 100 million users, and OVO, which has witnessed a sharp rise in users by 267%. The preferred eWallet of Lazada and Bukalapak, two of the most well-known eCommerce sites in the nation, is another app called DANA. One service that provides a full range of services is DOKU, a well-known payment platform that provides cash options, bank transfers, internet banking, and an eWallet.


Bank transfers account for 46% of all internet purchases in Malaysia. Financial Process Exchange (FPX), a popular bank transfer app that functions with all significant Malaysian banks, is available. Credit and debit card payments come in second at 32%. In contrast to Indonesia, the most popular cards used here are manufactured by foreign corporations.

Cash comes in third with 11%, and eWallets come in last with only 6%. Since 40% of customers claim they are using eWallets more than they were before the outbreak, their use is likely to increase. Over 120,000 businesses in Malaysia accept the popular eWallet Boost. Another significant eWallet is GrabPay, a component of the enormously popular Grab app. Last but not least, additional active eWallets and online payment systems include Touch ‘n Go, BigPay, and AliPay.


The Philippines, in contrast to the other nations on our list, follows its own path and still strongly (37%) favours using cash to make online transactions. This may appear counterintuitive at first, but due to services like Dragonpay, customers may use a barcode or transaction number to pay in cash for an online purchase at participating locations like a convenience store, ATM, or kiosk. Their order is shipped by the eCommerce site once they supply payment documentation.

The second most popular choice after cash is bank transfer (29%) via PayMaya, one of the most widely used mobile banking apps in the Philippines. Following that in popularity are cards (22%) and eWallets (8%) with GCash, the largest eWallet app in the nation, with more than 10 million downloads in 2020.


In Singapore, 75% of consumers prefer using a card as a form of payment. About 46% of those people use recognisable foreign cards like Visa, Amex, or Mastercard, while slightly more than half use domestic cards.

10% each for bank transfers and eWallets. GrabPay is a widely used eWallet in Malaysia, while PayNow is a bank transfer software that can be used with nine different Singapore banks. In contrast, BNPL providers like OctiFi and hoolah are quickly acquiring users as the pandemic spreads.


Vietnamese consumers (35%) also prefer to use credit or debit cards for online transactions, but of those who do, 90% do not use cards that are recognised globally. One of the most popular payment systems in the nation, VTC Pay, offers three means of payment: eWallet, bank transfer, and foreign credit card. Cash (21%) and eWallets (14%), which are the next three most common payment methods, are bank transfers, which come in at 26%. The two most popular eWallets in this region are MoMo, which also serves as an over-the-counter remittance and payment platform, and ZaloPay, an extension of the top chat app in the nation Zallo.

Despite the economic decline in other sectors, Southeast Asia’s eCommerce industry grew, likely as a result of the epidemic. Many consumers in the area stated that they planned to continue using their usual ePayment methods and online shopping throughout the lockout times.

As eWallets and other cashless payment alternatives grow more common in the region, the eCommerce trends driving these countries’ retail and service digitization will probably continue through 2021 and beyond. The continuous transition to more online-friendly solutions is visible in all five nations, even if each market has its own unique localised payment options. In the upcoming ten years, it will be intriguing to observe the Southeast Asian eCommerce market.

In his keynote address at the F8 Conference, Facebook founder Mark Zuckerberg disclosed that WhatsApp, a company owned by Facebook, is working toward hosting web shops where visitors may browse a store’s products and make purchases. This might be a method to transform into an eCommerce platform and leave the advertising model behind.

WhatsApp Enterprise

Currently, WhatsApp Business serves as a business messaging platform. It is a means of customer communication for businesses. A company can also create a profile with basic details like hours, location, and driving instructions.

Communication with customers can be streamlined by a nice automated response system. It is a pretty basic customer relationship management programme because it allows users to apply labels to clients to specify their demands (CRM). Everything is about to change.

Catalogs of WhatsApp products

The WhatsApp Business app is getting a significant upgrade with Mark Zuckerberg’s announcement of a feature called Product Catalogs.

Payment System for WhatsApp

Additionally, Mark Zuckerberg unveiled a brand-new platform for sending money to others. According to the presentation pictures, WhatsApp will be a part of the payment system.

He said the following:

So let’s speak about payments as this is a component of the idea that I’m especially enthusiastic about. Because payments are one of the places where we have the chance to significantly ease it, it’s one of the most crucial things we can accomplish here when I consider all the various ways that people engage privately.

I think sending money to someone should be as simple as sending them a picture. Therefore, we have already begun testing this in India with a million or so people.

It gets a lot of use, and the feedback is positive. And we’re currently preparing to launch this in several other nations later this year.

You may look at the fundamental user interface, and as we continue to develop this over the next year, we’ll have a lot more news and topics to discuss here. Payments and private commerce are two areas about which I’m really enthusiastic.

Recommended China’s eCommerce Success

Due to its established and vast eCommerce and payments landscape, which offers more convenience for customers via readily available alternative payment methods, the research showed that by 2026, China will account for over 37% of worldwide eCommerce payments by transaction value.

In order to replicate the eCommerce success seen in China, the research also suggests giving priority to digital wallets, Open Banking-facilitated payments, and cryptocurrencies.
In order to do this, it advises platform providers to collaborate with experts in these particular growing payment fields in order to stay up with shifting merchant expectations about acceptance methods.

Source: ecommerce payment solution , ecommerce payment gateway

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