Asia Pacific is the largest e-commerce region in the world, turning over $567 billion in transactions in 2014. With 60% of the world’s population and a growing consumer base that is twice as likely to buy online than any other group on the world, Asia will set the agenda for global online retail in the next 5 years. China is expected to exceed $1 trillion in e-commerce transactions, accounting for more than 40% of total worldwide e-commerce transactions by 2018.
During this time, Mastercard has maintained a central vantage point from which we have observed the growing importance of Asia Pacific as an e-commerce hub. The company’s payment systems, processing over 43 billion transactions each year, gives them firsthand knowledge of how consumers prefer to shop and pay. This enables Mastercard to create new products that help e-commerce business operate more efficiently, develop technology to protect consumers and retailers from fraud, and help build the merchant experience for online consumers.
In this report produced in partnership with R3, Mastercard outlines 10 industry-wide transformations impacting e-commerce in Asia Pacific and highlights implications for key industries.