ECOMMPAY launches Gate2Asia payment solution for business expanding to Asia

Thursday 6 August 2020 13:08 CET | News

ECOMMPAY has launched a payment solution called Gate2Asia, which unifies local payment options into one platform for online businesses entering the Asian markets. 

According to the press release, the payment solution combines the ecommerce markets of China, Australia, New Zealand, Indonesia, Malaysia, the Philippines, Thailand and Vietnam – a total of over 2 billion people with a potential ecommerce market spend of over USD 1.3 trillion.

Moreover, the Asian market is notoriously difficult to expand into, with region-specific consumer behaviour and unique business culture just two hurdles companies need to overcome. Therefore, ECOMMPAY has developed a single unified payment solution that will make business processes smoother, faster, and more reliable.

During the COVID-19 pandemic, online purchases in China have seen increases in penetration of 15% to 20%. Consequently, the age demographic of online shoppers has also increased. Some key insights include:

  • user penetration is 48.5% in 2020 and is expected to hit 64.3% by 2024;

  • projected ecommerce growth of 70% in China over the next 3 years;

  • over the past two years, the share of digital buyers making cross-border purchases from sellers in other Asian countries increased from above 50% to three-quarters.

Furthermore, Gate2Asia promises to help businesses reach local markets on a local level. This localisation can be a key differentiator between them, and other foreign companies entering the same market.

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Keywords: ECOMMPAY, launch, payment solution, Gate2Asia, local payment options, online businesses, Asia, ecommerce, China, Australia, New Zealand, Indonesia, Malaysia, Philippines, Thailand, Vietnam, COVID-19
Categories: Payments & Commerce
Countries: Asia
This article is part of category

Payments & Commerce