How Asian Mobile Payment Players Dominate Lifestyle Commerce

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Mobile payment adoption in Asia has very little in common with the U.S. experience. Consumers in China and India use their apps to manage many aspects of their lives, not just money movement, and are fiercely loyal to their chosen app. These Asian organizations didn’t start off as financial solutions, but built a following in other businesses such as ecommerce and social networks.

In China alone, this approach has created a mobile payments market of greater than $5.5 trillion, 50 times greater than U.S. volumes. Payment apps Alipay, Paytm and WeChat Pay achieved their extraordinary growth by becoming entirely central to their customers’ lives. An upcoming webinar from Mercator Advisory Group will review how these dominant mobile app systems developed and grew to their current size, and what they may have to offer to Western mobile payment apps.

Join Sarah Grotta, Director, Debit and Alternative Products Advisory Service, and Raymond Pucci, Associate Director, Research Services, from Mercator Advisory Group as they review these issues, and discuss how Asian mobile network providers are a force to be reckoned with around the globe and can provide some lessons for U.S. and European legacy payment providers, Among the topics covered, participants will learn about:

  • The evolution of payments in China and India

  • A look at Alipay, Paytm, and WeChat Pay 

  • How integrated app solutions build user adoption 

  • Global partnerships that strengthen mobile apps 

  • What this means for the U.S. and European payment providers