Our latest market report gives an overview of the mobile payments landscape of Asia. It covers markets where Fortumo has coverage. These markets are Indonesia, Pakistan, Bangladesh, Philippines, Vietnam, Thailand, Myanmar, South Korea, Malaysia, Taiwan, Cambodia, Hong Kong and Singapore.
The growth of the mobile audience in Western markets is slowing down. But in Asia, the mobile audience is growing at an increasing rate. This can be attributed to availability of cheap Android smartphones (the global average price of Android smartphones is 3 times lower than iPhones) which are also affordable by people with a lower income.
Entering the rapidly growing markets in Asia is a significant opportunity for digital content merchants, but also involves additional work in terms of localization. The key aspects that should be considered by merchants expanding are: language (few people speak English), pricing (lower income), access to payment methods (lack of credit cards), social networks (local networks are often more popular than Facebook and Twitter), devices (cheaper phones means less technological capability) and lack of access to mobile data (need to make apps available offline).
Fortumo’s Asian market report gives a high-level overview of the biggest markets in the region as well as insights on user spending behavior, localization and platform preferences. Data presented in the white paper has been taken from public sources of information as well as anonymized, aggregated data on payments processed by merchants using Fortumo’s cross-platform mobile payments product.
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