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Strategy Briefing
The Impact of Online Retail in Asia Pacific on Financial Services and Consumer Payments
18 pages, May 2018
US$1,325Added to Cart
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About This Report
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The conversion of online retailing from store-based retailing has impacted financial services and the way consumers pay across the world. In emerging markets the transition has been fastest in Asia Pacific, and allowed non-bank competitors into the competitive landscape for financial products and services. Ant Financial in China and Paytm in India are two examples that have benefited from the shift in retail, and will be discussed in this brief.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Mobile phones are a tremendous tool for consumer engagement.
The transition of retailing online has affected a variety of industries including the financial service space and consumer payments. Traditional mainstream financial institutions must now catch up to alternatives that have entered the market to address consumer segments that were previously overlooked.
In markets where financial institutions have been slower to embrace the shifting retail format, companies have stepped in to offer digital payment platforms to connect consumers to a global marketplace.
Cutting edge is not as important as usability. Simplicity is key.
Additional value can be faster transaction, more secure transaction, or additional rewards. Mobile devices have reduced the cost of offering financial services and driven the transition of retail online in emerging markets. Mobile devices are able to bypass payment infrastructure gaps and allowed many non-traditional payment players in the payment landscape.
Consumers need to be convinced that a new solution adds value.
While mainstream financial institutions may retain the trust of consumers, their necessity in a digital landscape is being challenged by alternatives, and consumers have shown they are willing to try alternatives.
Innovations in Asia Pacific illustrate the importance of online banking and payment platforms being flexible and adaptable to different conditions. There are various factors to consider understanding why consumers may not utilise financial services in a given market.
Want to find out more about this report?
Request more informationTable of Contents
Introduction
Scope
Financial Services in Emerging Markets
Financial services and consumer payments
Hurdles to financial service adoption in emerging markets
Addressing traditional hurdles to financial service adoption
Shifting Retail in Asia Pacific
Researched markets in Asia Pacific
State of the banked population
State of consumer payments in Asia Pacific
Regional lending overview
Shifting retail impacting financial services and payments
Case Study: Ant Financial in China
Potential for Ant Financial model in developed markets?
Case Study: PAYTM in India
Conclusion
Key considerations for broadening financial service adoption
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Want to find out more about this report?
Request more informationComplete Catalogue
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