Country for PR: United States
Contributor: PR Newswire New York
Tuesday, May 05 2020 - 11:00
Rapyd Unveils Payout and Disbursement Research, Identifies Preferences Across Asia Pacific Region in New Report
SINGAPORE and LONDON, May 5, 2020 /PRNewswire-AsiaNet/ --

- 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 ( 
). 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 - 

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 
       -- 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 

Access the full report on Rapyd's resource page by 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 


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