Is it the other way around those payment solutions
enterprises are venturing into ecommerce marketplaces. The boundaries are
blurred. It was ebay that started the ball rolling as even as a fledgling auction
site that had made huge inroads as an ecommerce marketplace bought the entire
stake of Paypal in 2001. Later after a couple of years they had a change of
heart and spun the two companies to operate independently.
Philippines ecommerce
growth
Now Alibaba the ecommerce giant from China has broken ground
with Alipay and to expand further they have entered South East Asia
particularly in Philippines as a heavyweight marketplace but known as Lazada.
This is the most popular online shopping website in the Philippines with over
60% market share as more merchants have doubled down and over half the 200
million population is on the ecommerce trip.
This is a win-win situation for Alipay as a payment solution
provider leaving the others such as Tenpay, Payment Asia,
Visa, and Mastercard among others to share the rest. Contrary to popular
rhetoric of the present administration as regards diplomacy online sales in
Philippines is booming – this information is often conversed on popular web
resources such as Payment Asia Reviews. But this
situation could be short lived as research points to explosive growth in
marketplace verticals in almost all categories and services of payment solution
providers also will expand.
This situation is true for almost all of South East Asia as
Indonesia, Malaysia and Vietnam along with Cambodia is also reporting better
than estimates traffic. (Source: ecommerceiq.asia and paymentasia reviews) Western online retailers/marketplaces might find it hard to
penetrate these markets considering the present uncertainty of closing borders
and trade (read protectionism) and also the matter of trust (read not honoring
trade treaties). This augurs well for the future when things get rough and
everybody gathers around the negotiating table (that is what all politicians do
very well)
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