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Asia driving global mobile payments, with eight in top 10 markets

Vietnam is the fastest-growing global market in mobile payments, clocking a 24 percent climb from last year, with 61 percent of its consumers tapping such services. Across the globe, China leads the pack with 86 percent of its population tapping mobile payments, followed by Thailand at 67 percent. 

In fact, the world’s top 10 mobile payments adopters are in eight Asian markets including Indonesia, Singapore, and the Philippines, according to PwC’s Global Consumer Insights Survey 2019. The study polled more than 21,000 respondents from 27 territories, which included six Southeast Asian markets and Australia, Canada, Germany, and the UK. 

Across the globe, the average growth rate was 24 percent, with 34 percent of all consumers tapping mobile to pay for their purchases. 

Thailand saw its adoption climb to 67 percent, while Malaysia clocked a 17 percent increase to 40 percent this year and the Philippines marked a 14 percent growth to 45 percent. Indonesia recorded the slowest increase in mobile payments adoption at 9 percent to hit 47 percent.

Mobile payments adoption in Singapore rose to 46 percent this year, up from 34 percent in 2018, where its growth was in part fuelled by government efforts to drive such platforms in the country, though, the vast number of choices and legacy systems might drag down usage. 

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