The Asia Pacific Proximity Payment Market would witness market growth of 13.4% CAGR during the forecast period (2021-2027).
Mobile phones (particularly smartphones) have become an integral part of a person’s life due to the constantly booming global economy. In the same fashion, the increased penetration of the internet has encouraged many individuals to adopt smartphones. As a result, the number of people using smartphones has increased significantly in the last couple of years, thereby propelling the growth of the proximity payment market.
Due to the massive potential of the market, the key market players are putting heavy investments in mobile payment technology. For example, in the Indian market, WhatsApp has collaborated with ICICI bank with an aim to launch a mobile payment feature via UPI (unified payments interface). A number of governments are also motivating banks to develop infrastructure to allow secure and safe mobile payments in rural areas, which can offer huge growth prospects for the vendors.
The growth of the market would be boosted by the constant advancements in products & services and innovation in payment security technologies. In addition, contactless payments allow money transactions to be conducted in between a point-of-sale terminal and the payment device of a consumer. Moreover, the growth of the proximity payment market would be boosted due to the shift in payment awareness and preferences among the customers. Further, the growth of the market would witness bright prospects due to the increase in contactless technologies in various applications like toll booths, vending machines, ticketing, and fuel stations.
The increasing penetration of smartphones across developing countries in the APAC region would positively impact the growth of the regional market in the upcoming years. Various countries of the region have taken supportive initiatives to support digital payment. For example, China is putting hefty investments in advanced payment services. Due to this, people living in the country are adopting digital payment methods. Since the outbreak of COVID-19 was started in China, it created a massive disruption across the country.
Due to this, people preferred to minimize human contact and a contactless payment method to pay for goods and services. In addition, the adoption of digital payment methods is constantly increasing in India due to the surge in the number of smartphone users and governments' efforts toward digital payment wallet services. Moreover, the growing government efforts with an aim to support the digital economy and reduce the utilization of cash have led to a high number of transactions via point-of-sale machines and e-wallets. Therefore, these aspects are expected to boost the growth of the regional proximity payment market during the forecasting period.
The Solution market dominated the Malaysia Proximity Payment Market by Offering 2020, thereby, achieving a market value of $345.3 million by 2027. The Services market is expected to witness a CAGR of 20% during (2021 - 2027).
Based on Offering, the market is segmented into Solution and Services. Based on Application, the market is segmented into Grocery Stores, Drug Stores, Bars & Restaurants, Entertainment Centers, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Proximity Payment Market is Projected to reach USD 26.4 Billion by 2027, at a CAGR of 11.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fidelity Information Services (FIS), Inc., PayPal Holdings, Inc., Visa, Inc., Mastercard, Inc., Apple, Inc., Square, Inc., Google, LLC, Ingenico, ACI Worldwide, Inc. and IDEMIA SAS.
Scope of the Study
Market Segments Covered in the Report:
By Offering
By Application
- Grocery Stores
- Drug Stores
- Bars & Restaurants
- Entertainment Centers
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Fidelity Information Services (FIS), Inc.
- PayPal Holdings, Inc.
- Visa, Inc.
- Mastercard, Inc.
- Apple, Inc.
- Square, Inc.
- Google, LLC
- Ingenico
- ACI Worldwide, Inc.
- IDEMIA SAS
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Proximity Payment Market, by Offering
1.4.2 Asia Pacific Proximity Payment Market, by Application
1.4.3 Asia Pacific Proximity Payment Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun – 2021, Jun) Leading Players
Chapter 4. Asia Pacific Proximity Payment Market by Offering
4.1 Asia Pacific Proximity Payment Solution Market by Country
4.2 Asia Pacific Proximity Payment Services Market by Country
Chapter 5. Asia Pacific Proximity Payment Market by Application
5.1 Asia Pacific Grocery Stores Proximity Payment Market by Country
5.2 Asia Pacific Drug Stores Proximity Payment Market by Country
5.3 Asia Pacific Bars & Restaurants Proximity Payment Market by Country
5.4 Asia Pacific Entertainment Centers Proximity Payment Market by Country
5.5 Asia Pacific Other Application Proximity Payment Market by Country
Chapter 6. Asia Pacific Proximity Payment Market by Country
6.1 China Proximity Payment Market
6.1.1 China Proximity Payment Market by Offering
6.1.2 China Proximity Payment Market by Application
6.2 Japan Proximity Payment Market
6.2.1 Japan Proximity Payment Market by Offering
6.2.2 Japan Proximity Payment Market by Application
6.3 India Proximity Payment Market
6.3.1 India Proximity Payment Market by Offering
6.3.2 India Proximity Payment Market by Application
6.4 South Korea Proximity Payment Market
6.4.1 South Korea Proximity Payment Market by Offering
6.4.2 South Korea Proximity Payment Market by Application
6.5 Singapore Proximity Payment Market
6.5.1 Singapore Proximity Payment Market by Offering
6.5.2 Singapore Proximity Payment Market by Application
6.6 Malaysia Proximity Payment Market
6.6.1 Malaysia Proximity Payment Market by Offering
6.6.2 Malaysia Proximity Payment Market by Application
6.7 Rest of Asia Pacific Proximity Payment Market
6.7.1 Rest of Asia Pacific Proximity Payment Market by Offering
6.7.2 Rest of Asia Pacific Proximity Payment Market by Application
Chapter 7. Company Profiles
7.1 Fidelity Information Services (FIS), Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Partnerships, Collaborations, and Agreements:
7.1.4.2 Acquisition and Mergers:
7.1.5 SWOT Analysis
7.2 PayPal Holdings, Inc. (eBay)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Acquisition and Mergers:
7.2.5.3 Product Launches and Product Expansions:
7.3 Visa, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Recent strategies and developments:
7.3.3.1 Partnerships, Collaborations, and Agreements:
7.4 Mastercard, Inc.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Regional Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Partnerships, Collaborations, and Agreements:
7.4.4.2 Acquisition and Mergers:
7.4.4.3 Geographical Expansions:
7.5 Apple, Inc.
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Product and Regional Analysis
7.5.4 Research & Development Expense
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.5.5.2 Acquisition and Mergers:
7.5.6 SWOT Analysis
7.6 Square, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segment and Regional Analysis
7.6.4 Recent strategies and developments:
7.6.4.1 Partnerships, Collaborations, and Agreements:
7.6.4.2 Product Launches and Product Expansions:
7.6.4.3 Acquisition and Mergers:
7.6.4.4 Geographical Expansions:
7.7 Google, LLC
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Acquisition and Mergers:
7.7.5.2 Geographical Expansions:
7.7.6 SWOT Analysis
7.8 Ingenico (Worldline)
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Recent strategies and developments:
7.8.4.1 Partnerships, Collaborations, and Agreements:
7.8.4.2 Product Launches and Product Expansions:
7.9 ACI Worldwide, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Regional & Segmental Analysis
7.9.4 Research & Development Expenses
7.9.5 Recent strategies and developments:
7.9.5.1 Partnerships, Collaborations, and Agreements:
7.9.5.2 Product Launches and Product Expansions:
7.9.6 SWOT analysis
7.10. IDEMIA SAS (Advent International, Inc.)
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Partnerships, Collaborations, and Agreements:
7.10.2.2 Acquisition and Mergers:
TABLE 1 Asia Pacific Proximity Payment Market, 2017 - 2020, USD Million
TABLE 2 Asia Pacific Proximity Payment Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Proximity Payment Market
TABLE 4 Product Launches And Product Expansions– Proximity Payment Market
TABLE 5 Acquisition and Mergers– Proximity Payment Market
TABLE 6 Asia Pacific Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 7 Asia Pacific Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 8 Asia Pacific Proximity Payment Solution Market by Country, 2017 - 2020, USD Million
TABLE 9 Asia Pacific Proximity Payment Solution Market by Country, 2021 - 2027, USD Million
TABLE 10 Asia Pacific Proximity Payment Services Market by Country, 2017 - 2020, USD Million
TABLE 11 Asia Pacific Proximity Payment Services Market by Country, 2021 - 2027, USD Million
TABLE 12 Asia Pacific Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 13 Asia Pacific Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 14 Asia Pacific Grocery Stores Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 15 Asia Pacific Grocery Stores Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 16 Asia Pacific Drug Stores Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 17 Asia Pacific Drug Stores Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 18 Asia Pacific Bars & Restaurants Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 19 Asia Pacific Bars & Restaurants Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 20 Asia Pacific Entertainment Centers Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 21 Asia Pacific Entertainment Centers Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 22 Asia Pacific Other Application Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 23 Asia Pacific Other Application Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 24 Asia Pacific Proximity Payment Market by Country, 2017 - 2020, USD Million
TABLE 25 Asia Pacific Proximity Payment Market by Country, 2021 - 2027, USD Million
TABLE 26 China Proximity Payment Market, 2017 - 2020, USD Million
TABLE 27 China Proximity Payment Market, 2021 - 2027, USD Million
TABLE 28 China Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 29 China Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 30 China Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 31 China Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 32 Japan Proximity Payment Market, 2017 - 2020, USD Million
TABLE 33 Japan Proximity Payment Market, 2021 - 2027, USD Million
TABLE 34 Japan Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 35 Japan Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 36 Japan Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 37 Japan Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 38 India Proximity Payment Market, 2017 - 2020, USD Million
TABLE 39 India Proximity Payment Market, 2021 - 2027, USD Million
TABLE 40 India Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 41 India Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 42 India Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 43 India Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 44 South Korea Proximity Payment Market, 2017 - 2020, USD Million
TABLE 45 South Korea Proximity Payment Market, 2021 - 2027, USD Million
TABLE 46 South Korea Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 47 South Korea Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 48 South Korea Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 49 South Korea Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 50 Singapore Proximity Payment Market, 2017 - 2020, USD Million
TABLE 51 Singapore Proximity Payment Market, 2021 - 2027, USD Million
TABLE 52 Singapore Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 53 Singapore Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 54 Singapore Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 55 Singapore Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 56 Malaysia Proximity Payment Market, 2017 - 2020, USD Million
TABLE 57 Malaysia Proximity Payment Market, 2021 - 2027, USD Million
TABLE 58 Malaysia Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 59 Malaysia Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 60 Malaysia Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 61 Malaysia Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 62 Rest of Asia Pacific Proximity Payment Market, 2017 - 2020, USD Million
TABLE 63 Rest of Asia Pacific Proximity Payment Market, 2021 - 2027, USD Million
TABLE 64 Rest of Asia Pacific Proximity Payment Market by Offering, 2017 - 2020, USD Million
TABLE 65 Rest of Asia Pacific Proximity Payment Market by Offering, 2021 - 2027, USD Million
TABLE 66 Rest of Asia Pacific Proximity Payment Market by Application, 2017 - 2020, USD Million
TABLE 67 Rest of Asia Pacific Proximity Payment Market by Application, 2021 - 2027, USD Million
TABLE 68 Key Information – Fidelity Information Services (FIS), Inc.
TABLE 69 Key Information – PayPal Holdings, Inc.
TABLE 70 Key Information – Visa, Inc.
TABLE 71 key Information – Mastercard, Inc.
TABLE 72 Key Information – Apple, Inc.
TABLE 73 key information – Square, Inc.
TABLE 74 Key Information – Google, LLc
TABLE 75 Key Information – Ingenico
TABLE 76 Key information – ACI Worldwide, Inc.
TABLE 77 Key Information – IDEMIA SAS
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2017, Jun – 2021, Jun) Leading Players
FIG 5 Swot analysis: fidelity information services (fis), inc.
FIG 6 Recent strategies and developments: PayPal Holdings, Inc.
FIG 7 Recent strategies and developments: Mastercard, Inc.
FIG 8 SWOT Analysis: apple, Inc.
FIG 9 Recent strategies and developments: Square, Inc.
FIG 10 SWOT Analysis: Alphabet Inc. (Google Inc.)
FIG 11 Recent strategies and developments: ACI Worldwide, Inc.
FIG 12 swot analysis: aci worldwide, inc.
FIG 13 Recent strategies and developments: IDEMIA Group SAS