Global Payments has published research showing that digital wallets remained the dominant payment method across Asia-Pacific in 2025, while account-to-account payments gained share in several Asian markets.
Its latest global payments study found that digital wallets accounted for 77% of online spending in Asia-Pacific, equivalent to USD $2.7 trillion, and 63% of in-person spending, or USD $6.3 trillion. That gave the region the highest wallet share in the world.
The findings suggest a payments market in which consumers are shifting across different systems rather than moving in a single direction. In some countries, wallets are linked mainly to cards; in others, they are tied more closely to bank transfer systems or bundled into broader app ecosystems.
India remained one of the region's largest wallet markets, with digital wallets making up 68% of eCommerce spending and 61% of point-of-sale spending. In South Korea, digital wallets are projected to overtake cards both online and in stores by 2030.
Hong Kong shift
Hong Kong saw one of the clearest market changes, with digital wallets overtaking cards as the leading payment method for the first time. Wallets accounted for 41% of eCommerce transaction value and 45% of point-of-sale transaction value in 2025.
Account-to-account payments also expanded in Hong Kong, reaching 19% of eCommerce transaction value and 9% of point-of-sale spending. Those shares are forecast to rise to 23% and 13% respectively by 2030.
Global Payments linked the increase to wider use of the Faster Payment System and the Hong Kong Common QR Code, which have supported bank-linked instant transfers in everyday retail spending.
Southeast Asia
Across Southeast Asia, account-to-account payments are growing from a smaller base but becoming more visible in both online and in-store transactions. National instant payment systems are playing a central role in that shift.
Thailand stood out as one of the world's most account-to-account-heavy consumer payment markets. Its PromptPay network drove 44% of online spending and 43% of in-person spending in 2025.
Singapore remains more card-led than several neighbouring markets, but the gap is narrowing. Cards accounted for 44% of eCommerce spending, worth USD $10.8 billion, and 40% of point-of-sale spending, worth USD $55 billion. Digital wallets followed at 40% and 36% respectively.
In Singapore, account-to-account payments are expected to reach 13% of eCommerce transaction value and 15% of point-of-sale value by 2030, with PayNow identified as a main driver of that growth.
The study also highlighted growing links between domestic payment systems such as Singapore's PayNow, Thailand's PromptPay and Malaysia's DuitNow. Together, these systems are creating an alternative channel for real-time cross-border transfers and retail payments outside traditional card networks.
Policy role
Public policy and infrastructure development have played a significant role in these changes. The study pointed to initiatives including Hong Kong's Faster Payment System, Singapore's SGQR standard and PayNow as examples of frameworks that have widened acceptance and improved interoperability.
QR-based payment methods were identified as a key factor in the spread of account-to-account transactions. Their use has expanded among merchants and consumers because they are relatively cheap to accept, easy to use and well-suited to smartphone adoption.
Phil Pomford, General Manager, Global eCommerce, APAC, at Global Payments, said the region was changing faster than any other. "Asia's payment landscape is evolving faster than anywhere else in the world. Wallet adoption continues to surge, A2A rails are gaining scale across multiple markets, and interoperable QR standards are stitching the region into a unified, low-cost real-time payments corridor. This shift isn't just changing how people pay - it's reshaping cross-border trade, travel and digital commerce. Merchants that enable these preferred methods will be the ones who benefit most from the region's accelerating digital economy," said Pomford.
The figures were published shortly after Global Payments completed its acquisition of Worldpay, bringing the payments business and its long-running market study under the Global Payments name.