Datasheet

14 Part I  Overview of Commerce
(hard-currency) payments and toward electronic payment to increase tax revenues
and reduce the financial risks imposed by black markets. Figure 1-6 illustrates
the characteristic financial behaviors of some main APAC countries.
JP: High card usage in
physical space. Bank
transfers more prevalent
in E-commerce.
CN: Highly regulated
marketplace, currency
restrictions, huge
centralized card market,
fragmented banks
transfer and direct debit
market. No central
clearing house.
IN: Predominantly paper
based clearing system with
over 1000 independent
clearing houses. Check /
Drafts – most common
method of funds transfer.
Checks physically sent to
locations. Realization time
up to 30 days. Electronic
Banking products usage
gaining acceptance.
AU: high card usage.
Good direct debit and bank
transfer infrastructure.
Figure 1-6: APAC financial behaviors
There are also Latin American (LatAm) countries where modern financial
behaviors are making headway, but cross-border transactions are typically very
cumbersome and restrictive. Even in some of the more emerging countries in
the LatAm region, namely Brazil and Argentina, the number of acquirers is very
limited (in the single digits) and local bank withdrawals are typically allowed
only for permanent residents and citizens. All of this is to drive a single point
home: The dissimilarity in payment and banking behaviors not only affects the
payment mechanisms and their corresponding infrastructures, but also anything
that relies on these financial institutions, most notably e-commerce solutions.
Mobile Payment and Commerce
A study of payment technologies cannot be deemed complete without touching
upon new payment mechanisms, chief among them the emerging M-Payment
624463c01.indd 14 3/29/11 2:26:34 AM