AsiaNet 83909

SINGAPORE and LONDON, May 5, 2020 /PRNewswire=KYODO JBN/ --

- The Rapyd 2020 State of Disbursements: Asia Pacific Outlook report provides a

first-of-its-kind look at how consumers across Asia prefer to be paid, allowing

digital businesses worldwide to grow their market share in the region

Rapyd, a global Fintech as a Service company, announced today the publication

of the 2020 State of Disbursements: APAC Outlook Report (

https://c212.net/c/link/?t=0&l=en&o=2793781-1&h=730305034&u=https%3A%2F%2Fwww.rapyd.net%2Fresource%2F2020-state-of-disbursements-asia-pacific-outlook&a=2020+State+of+Disbursements%3A+APAC+Outlook+Report

). The research analyzed existing and preferred methods for getting paid across

several transaction scenarios such as Person-to-Person ("P2P", e.g.

remittances or loans), Business-to-Consumer ("B2C", e.g. salaries, wages,

commissions, and rebates), Business-to-Business ("B2B", e.g. cross-border

invoice payments), and Government-to-Consumer ("G2C", e.g. government support

or subsidies). The 2020 State of Disbursements report provides gig-economy

platforms, ecommerce marketplaces, and businesses with the actionable

intelligence they can use across Asian markets to deliver more effective

mass-payouts to their beneficiaries.

Logo - https://mma.prnewswire.com/media/1159741/Rapyd_Logo.jpg

In this inaugural study, Rapyd surveyed 3,500 online consumers from seven

different countries in the Asia Pacific region, including India, Indonesia,

Japan, Malaysia, Singapore, Taiwan, and Thailand. Survey respondents were

identified as household decision-makers aged 18-64 across a full spectrum of

income levels and asked questions around banking and payment preferences,

behaviors, and concerns.

Key findings of the study include:

-- Access to Banking services and app usage is greater than often thought

across the region with more than 80% of respondents in all countries

saying they had a savings account or debit card, with most people using

it regularly.

-- The use of fintech applications like eWallets has exploded, with 77.6%

of Indians, 77.4% of Malaysians, and 70.2% of Indonesians using an

eWallet in the last month, with the exception of Japan where, despite

recent growth, just 24% of respondents did the same.

-- Depending on the use case, preferred payment methods vary

country-by-country:

-- Averaging 70%, Direct Bank transfers are the most popular method for

regular salary transfer across most countries and 80%+ in markets

like Malaysia and Singapore.

-- eWallets are growing in popularity for personal transactions, such

as personal repayment from family or friends (33.5% of Indians and

24% of Singaporeans chose it as their preferred option), rebates

(38% of Indonesians), and sale of personal goods or services

(28.5% Indonesians, and 30% Malaysians and Thais chose to receive

rebates into their eWallet).

-- Security dominated consumer desires in four of the seven countries with

82% of Indians, 75% of Malaysians and Indonesians, and 68% of

Singaporeans citing keeping personal information safe as the most

important attribute of receiving payments.

The report comes at a uniquely important time as the COVID-19 pandemic has

created a massive global economic disruption. By analyzing consumer preferences

Rapyd gives businesses reliable information at a time when the demand for

alternative employment, delivery apps, and digital marketplace models are

growing, while rising unemployment levels could send millions of new workers

into the gig economy.

"While data about how consumers prefer to make payments is widely available,

businesses struggle to make payouts to gig-workers, online sellers, and B2B

partners using the methods that these beneficiaries prefer and often require.

Through this report, we are able to provide actionable information to global

organizations as they make critical business decisions impacting both the short

and long term health of their companies," said Brendan Miller, Head of Global

Product Marketing at Rapyd.

The report found that there is no one-size-fits-all approach to global payouts.

Every country is unique in its preferences and digital leaders must be prepared

to localize their payout experiences to drive beneficiary loyalty and

engagement.

Access the full report on Rapyd's resource page by clicking here (

https://c212.net/c/link/?t=0&l=en&o=2793781-1&h=2983954190&u=https%3A%2F%2Fwww.rapyd.net%2Fresource%2F2020-state-of-disbursements-asia-pacific-outlook&a=clicking+here

).

About Rapyd

Rapyd does for fintech what the cloud did for IT. They built the world's

largest local payments network to power frictionless global commerce.

Innovative ecommerce companies, technology firms, and marketplaces use their

Fintech as a Service platforms: Collect, Disburse, Wallet, and Issuing to

seamlessly integrate payment capabilities into their applications. The Rapyd

Global Payments Network covers 900+ locally preferred payment methods,

including bank transfers, eWallets and cash in more than 100 countries. Now

businesses can open new markets, create new fintech applications, and reach

four billion consumers worldwide without thinking about infrastructure or

regulations. Investors include Stripe, General Catalyst, Oak FT, Tiger Global,

Durable Capital, Target Global, and TaL Capital. For more information, visit

www.rapyd.net

SOURCE Rapyd

CONTACT: LITMUS PR for Rapyd APAC, Yap Gian Cing, +65 9115 8500,

gian@litmuspr.com.sg