Digital wallets have seen the fastest uptake amongst Singapore consumers with a four-fold increase over the last year

Tweet: Consumers in #Singapore are among Asia’s top 3 adopters of #digitalwallets: #mobileshopping survey http://news.mstr.cd/1XLPAR2 

Singapore, 24 February 2016 – With the 2016 Mobile World Congress currently ongoing in Barcelona, MasterCard’s latest Mobile Shopping Survey reveals that consumers in Asia Pacific are embracing new mobile technologies with one in five (19.5 percent) using digital wallets, a two-fold increase from two years ago (9.7 percent). Smartphone users in emerging markets, China (45.0 percent) and India (36.7 percent) are the biggest adopters of digital wallets in the region while smartphone users in Singapore (23.3 percent) come in third on that front. The results are based on interviews that took place between October and December 2015 with 8,500 people aged 18-64 across 14 markets[1] in Asia Pacific.

In Singapore, mobile banking apps (44.3 percent) are most widely used among other new mobile technologies, followed by digital wallets (23.3 percent) and in-app shopping (22.8 percent). Digital wallets have seen the fastest uptake over the last year with a four-fold increase (5.7 percent in 2014), compared to mobile banking apps and in-app shopping which saw a growth of 3.7 percent and 7.8 percent respectively.

In addition, consumers continue to embrace mobile shopping with half in Asia Pacific having made a purchase using their smartphones in the last three months. Unsurprisingly, the markets that have seen strong uptake of digital wallets are also where the majority of people are using their mobile phones to shop. Three quarters of people in India and China are now shopping on smart phones.

In Singapore, 48.5 percent of respondents have made a purchase through their mobile phones in the last three months, an increase from 36.7 percent in 2014.The top three spend categories are clothing and other fashion accessories (37.3 percent), coupon /deal sites (22.3 percent) and tickets for cinema/ movie theatres (22.1 percent).

Deborah Heng, group head and general manager, MasterCard Singapore commented, “Smartphones are already deemed indispensable to consumers’ highly digital lifestyles in Singapore. In the digital payment space, we continue to see a demand for seamless, quick and safe transactions. MasterCard’s digital wallet MasterPass simplifies the payment process and provides consumers with the means to make payments easily and securely. We’ve also seen keen take-up of MasterPass for in-app payments of bills and taxi bookings, and are looking to incorporate MasterPass into other merchant apps – for instance in the food & beverage space – to provide consumers with a more seamless dining experience.”

Detailed findings:

  • Overall, close to half of respondents (48.5 percent) across the region have made a purchase using their smartphone in the past three months, led by those in India (76.4 percent), China (76.1 percent), South Korea (62.0 percent) and Thailand (61.1 percent).
  • India also tops the region in growth rates, with the number of people shopping on smartphones rising by 29.3 percent from two years ago, followed by Vietnam (17.7 percent) and Singapore (17.1 percent).
  • Australians (23.7 percent) and New Zealanders (16.2 percent) are the least likely to shop online via their mobile phones.
  • More than half of the respondents across Asia Pacific (53.9 percent) cited convenience as the key driver for shopping on their smartphone. Other motivating factors include the ability to shop on the go (42.9 percent) and the growing availability of apps that make it easy to shop online (41.4 percent).
  • Clothing and accessories (35 percent), personal care and beauty products (20.9 percent) and movie tickets (20.4 percent) are the top mobile shopping purchases amongst Asia Pacific consumers. Close to half of consumers in China (46.4 percent), India (42.5 percent) and Korea (42.1 percent) shop for clothing and accessories on their smartphone.

About MasterPassTM

MasterPass is MasterCard’s digital payment solution that simplifies the entire shopping experience for consumers. Since its launch in February 2013, MasterPass is available at over 250,000 merchants around the world and is live in 29 countries including Australia, Belgium, Brazil, Canada, China, Czech Republic, France, Germany, Hong Kong, Hungary, India, Ireland, Israel, Italy, Japan, Korea, New Zealand, Poland, Romania, Russia, Singapore, Slovakia, South Africa, Sweden, Taiwan, Turkey, the United Arab Emirates, the UK and the US.

MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites and consumers can securely store MasterCard and other branded credit, debit and prepaid card information address books. In Singapore, there are currently six banks offering MasterPass to cardholders and these include DBS Bank, Maybank, HSBC, UOB, CIMB bank and OCBC Bank. MasterPass is currently accepted at a variety of online and in-app merchants in Singapore, including ComfortDelgro, Lazada, Shaw Theatres, SilkAir, Singapore Airlines and SISTIC. Payment technology providers AsiaPay, eNETS, MC Payment, Red Dot Payment and WireCard have also availed MasterPass to their merchants.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardAP and @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Media Contacts

Celina Lim, Weber Shandwick, Celim@webershandwick.com , +65 6825 8075, +65 90997618

Nur Fahimah, Weber Shandwick, nurfahimah@webershandiwck.com , +65 6825 8083

 

Appendix: Data

% of respondents who have made a purchase using a smartphone

2015 2014 2013
Asia Pacific 48.5 45.6 38.6
Australia 23.7 19.6 24.8
China 76.1 70.1 59.4
Hong Kong 42.9 38.2 40.0
India 76.4 62.9 47.1
Indonesia 55.5 54.9 46.7
Japan 31.3 25.8 22.9
Korea 62.0 53.8 47.6
Malaysia 45.5 45.6 31.5
New Zealand 16.2 20.7 15.0
Philippines 40.9 34.0 32.8
Singapore 48.5 36.7 31.4
Taiwan 46.6 62.6 45.2
Thailand 61.1 58.8 51.2
Vietnam 51.7 45.2 34.9

% of respondents who currently use digital wallets

2015 2014 2013
Asia Pacific 19.5 11.2 9.7
Australia 13.6 4.6 2.4
China 45.0 28.5 32.0
Hong Kong 11.2 7.0 7.2
India 36.7 24.4 13.6
Indonesia 11.1 15.6 9.8
Japan 7.7 2.3 2.8
Korea 13.4 9.8 11.8
Malaysia 11.0 12.2 6.2
New Zealand 9.5 1.6 1.6
Philippines 17.0 10.3 10.8
Singapore 23.3 5.7 4.4
Taiwan 13.0 13.8 9.8
Thailand 7.6 6.8 11.4
Vietnam 15.9 14.0 11.8

[1] Thailand, China, Japan, Korea, Australia, Malaysia. New Zealand, Taiwan, Vietnam, Hong Kong, Indonesia, Singapore, India. Philippines.