2 PAYMENT METHOD PROFILES: DIGITAL WALLETS
Global Overview
U.S. Apple Pay
India Paytm
China Alipay
Poland BLIK
Singapore GrabPay
Date Established
2014
2014 261
2003 262
2013 263
2011
Users
90 million 266
1.4 billion 267
18.5 million 268
100 million 269
640 million 264 265
Annual GMV (includes P2P, B2B, C2B, etc.)
$11.4 billion USD 272
$7.6 trillion USD 270
$40 billion USD 271
$20.1 trillion USD
$5 billion 273
Stored Value; Credit/Debit Cards (not all int'l); Bank Transfer 276 QR; InApp/ PayButton, Tap-to- Pay 280
UPI, Credit/Debit, Bank Transfer, Postpaid 275
Stored Value; Credit/Debit Cards; Bank Transfer 277
Stored Value; Credit/Debit Cards; PayPal 274
Funding Sources
Bank Account
Technology Used
NFC, InApp/Pay Button 278
QR Code 279
Banking App QR Code; InApp 281
Tokenization; Biometrics; On-Device Ecryption 282 283 Managed via integration partner (direct or acquirer) 288 289
SSL encryption; Device Binding; 2FA 285
Password Login; UPI code (where applicable) 284
6-digit OTP; biometrics; encryption 287
Security
6-digit OTP 286
Variable depending on funding source and/or pricing model 290 India + Paytm UPI in UAE, Singapore, France, Maurities, Bhutan, and Nepal 297
Managed via integration partner (direct or acquirer) 291 292
Variable (depends on country, channel, & product) 294
Costs
1.50% 293
Singapore, Malaysia, Indonesia, Philippines, Vietnam, Thailand 300
China + 70+ markets 298
U.S. + several countries 295 296
Acceptance
Poland; Slovakia 299
Underlying Payment Methods + Network Rules + Monetary Authority of Singapore Payment Services Act (Annual txn limits) 306
Underlying Payment Method + Network Rules + Chinese government (CBDC e-yuan pilot) 303 304
Underlying Payment Method + RBI (data localization & NCPI) 302
Underlying Payment Method + Network Rules 301
Owned by Polish Banks 305
Governance
Table 2.12
97
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