Boku - 2024 Global Ecommerce Report

Consumer Sentiment Survey Insights Local Payment Methods Users Key Survey Takeaways Payment Types & Their Use Cases ▸ Local payments are dominating in terms of adoption, with 93% of respon- Users of predominantly local payment methods represented 93% (701) of the re- dents accessing a larger number of local payment methods within the last spondents in Indonesia, indicating a heavily mobile dominat. [...] Key Survey Takeaways ▸ Local payments are dominating in terms of adoption, with almost 90% of Local payment methods will account for over 66% of ecommerce transactions respondents accessing a larger number of local payment methods within the in the Philippines by value in 2028, from 40% in 2023, showing that cards are last month online than card payments. [...] ▸ GCash has the highest adoption of any local payment type, at 97% of local The continued dominance of local payment methods in the Philippines means payments users, but being used less frequently than other methods for high that only accepting cards is not the correct way to access the market, with local value purchases. [...] 7% Over a Third of the Population to use Local Payment Methods by 2028 15% 10% ▸ By 2028, 50% of the ecommerce transaction volume will be made using local payment methods, with non-card-linked wallets and A2A being the top two 12% local payment methods of choice. [...] ▸ The survey also found that the perception of security and the ability to earn rewards were the two most important drivers for users to consider changing ▸ We expect merchants to focus on local payment methods for their accep- payment services in the Vietnamese market.