Analysis of different A2A payment models
| Country | Category | Credit Card population (15+) | Debit card Population | ATMs per 100,000 adults | App | Network | Model Type |
|---|---|---|---|---|---|---|---|
| India | SEA | 4.62% | 27.07% | 21.44 | PhonePe, Paytm, Gpay, Banking Apps | UPI | Mobile number linked to Bank Account, Instant A2A transfer |
| Thailand | SEA | 22.61% | 63.20% | 108.14 | Banking Apps / e-wallets for real time payments | E-Wallets (23%), Promptpay (34%) | Mobile number linked to Bank Account, Instant A2A transfer |
| Singapore | SEA | 41.74% | 93.50% | 54.33 | Bank Apps / E-Wallets | E-Wallets (10-30%) / PayNow on FAST system | Mobile number linked to Bank Account, Instant A2A transfer |
| Indonesia | SEA | 1.60% | 35.10% | 48.09 | Banking & non Banking, more dominant with e-wallets for real time payments | E-Wallets / BI-FAST (50%+ report using E-Wallets) | Meanwhile, BI Fast allows fund transfers from one bank to another using the recipient’s account details, mobile number, or email address. It could be simliar to how it has played out in India, where banks offer this service, but e-wallet providers such as Gopay, are more deeply embedded with merchants |
| Malaysia | SEA | 7.89% | 83.25% | 54.28 | Banking & non Banking, more dominant with e-wallets for real time payments | E-Wallets / DuitNOW (52% + report using E-Wallets) | Mobile number linked to Bank Account, Instant A2A transfer |
| Vietnam | SEA | 4.12% | 26.74% | 27.05 | Momo, Moca, ZacoPay are E-Wallets | E-Wallets / NAPAS (59% + report using E-Wallets) | Money transferred from account to e-wallet, and then used to pay. Not Account to Account |
| France | Europe | 39.76% | 86.34% | 93.54 | Lyra E-POS App (payment acceptance) | Lyra Network (Payment Gateway) | This partnership is purely to enable UPI transactions to happen aborad |
| Sweden | Europe | 48.35% | 98.17% | 28.3 | Swish | Bangkirot Clearing System | The mobilebanking ID has to be activated in online banking, and the number entered in the Swish app to activate, along with phone number. This links the mobile number with bank account |
| Nederlands | Europe | 37.43% | 98.31% | 33.2 | Tikkie (P2P), Banking App | iDEAL | When a customer selects iDEAL as their payment method during an online purchase, they are redirected to their bank's online banking environment. Here, the payment details are pre-filled and the customer only needs to authorise the transaction |
| Poland | Europe | 24.44% | 83.93% | 66.82 | Banking App | Blik users, bank rails | Can be accessed in section of your banking app, or a standalone app. Have to activate and set source account, which can be savings account or credit card. To recieve money this way, Blik needs to be activated |
| Spain | Europe | 56.61% | 83.28% | 96.54 | Banking Apps | Bizum, bank rails | Download bank app, and activate Bizum. Connect to your savings account. Cant send to someone who doesnt have Bizum |
| Switzerland | Europe | 69.21% | 85.37% | 91.65 | Twint, Each Bank has its own Twint App | Worldline, SIX | Every bank has its own TWINT App, you can connect your account, or card, and make payments |
| Denmark | Scandinavia | 58.50% | 99.02% | 41.03 | Mobilepay | Standard Card Rails (its a wallet linked to Card payment method) | Wallet with Debit & Credit Card details stored. Uses Phone numbers as an identifier |
| Finland | Scanadinavia | 65.29% | 97.42% | 36.75 | Mobilepay | ||
| Norway | Scandinavia | 66.74% | 97.76% | 27.15 | Vipps (merged with Mobilepay, maintain separate brand names) | ||
| USA | USA | 67% | 82.80% | 173.96 | Venmo | Venmo Users | Use an identifier such as phone / email and set up a venmo account. You can send money to contacts. You can connect your debit card / bank account to venmo and use it to pay friends, and add credit card for purchases |
| Zelle | Zelle Users | Zelle used within a separate banking app. The both individuals have to have a zelle app to transfer money. Direct account to account transfer | |||||
| ApplePay | Card Rails | Add cc / dc to wallet, set up using a PIN / biometrics, and pay using code instead of card details | |||||
| AppleCash | Card Rails + Wallet | Transfer money to apple cash from apple wallet. Apple wallet will have linked card methods. The person you're sending it to should also have apple wallet & cash. They can then withdraw to their account (cost 1.5%) | |||||
| Banks (like RTGS) | Fednow | FedNow instead allows customers to log into their net-banking accounts, and use their bank account number as well as a “routing number” and make payments, making it quite similar to the RTGS mode of payment. | |||||
| Brazil | Lat-AM | 40.43% | 65.95% | 94.47 | Bank App (Pix section) | Pix | Mobile number linked to Bank Account, Instant A2A transfer |
| Peru | Lat-AM | 12.90% | 35.66% | 117.24 | Yape (Yape Card) | Visa Direct (Alias Directory) | Set up using your phone number, debit card number, and account number. You can use a 6 digit code to transact. YapeCard is a product for the unbanked population. Customers can sign up with their phone number, and national identification number. They can seed their accounts by getting someone to send them money on Yape, and pay them by cash. Once there is money in the account, the customer can buy and transact at no cost. They can also withdraw money (within limits) |
| PLIN (withiin existing banking app) | Visa Direct | ||||||
| Mexico | Lat-AM | 9.53% | 24.63% | 62.26 | E-Wallets | 27% users use E-Wallets | |
| Australia | Australia | 51.51% | 95.94% | 123.59 | Osko (within existing banking app) | NPP | Set up PayID (mobile / email) within banking app, and use this to pay instantly. To recieve, Osko has to be enabled within the account |
Analysis of countries with banking & credit penetration & reliance on cash
| Country | Category | Credit Card population (15+) | Debit card Population | ATMs per 100,000 adults | Cash dependance in retail / POS payments | Share of transactions that are in cash |
|---|---|---|---|---|---|---|
| Australia | Australia | 51.51% | 95.94% | 123.59 | 13% in 2022 | 13% |
| Spain | Europe | 56.61% | 83.28% | 96.54 | 41% in 2022 | 41% |
| Poland | Europe | 24.44% | 83.93% | 66.82 | 41% in 2022% | 41% |
| Switzerland | Europe | 69.21% | 85.37% | 91.65 | 29.% in 2023 | 29% |
| France | Europe | 39.76% | 86.34% | 93.54 | 68% in 2020 to 50% in 2022 | 50% |
| Sweden | Europe | 48.35% | 98.17% | 28.3 | 39% in 2020 to 9% in 2022 | 9% |
| Nederlands | Europe | 37.43% | 98.31% | 33.2 | 11% in 2022% | 11% |
| Mexico | Lat-AM | 9.53% | 24.63% | 62.26 | 39% in 2022 | 39% |
| Peru | Lat-AM | 12.90% | 35.66% | 117.24 | 44% in 2021 | 44% |
| Brazil | Lat-AM | 40.43% | 65.95% | 94.47 | 26% in 2023 | 26% |
| Finland | Scanadinavia | 65.29% | 97.42% | 36.75 | 10% in 2023 | 10% |
| Norway | Scandinavia | 66.74% | 97.76% | 27.15 | 4% in 2022 | 4% |
| Denmark | Scandinavia | 58.50% | 99.02% | 41.03 | 9% in 2023 | 9% |
| Vietnam | SEA | 4.12% | 26.74% | 27.05 | 47% in 2023 | 47% |
| India | SEA | 4.62% | 27.07% | 21.44 | 50% in 2022 | 50% |
| Indonesia | SEA | 1.60% | 35.10% | 48.09 | 45% in 2023 | 45% |
| Thailand | SEA | 22.61% | 63.20% | 108.14 | 56% in 2023 | 56% |
| Malaysia | SEA | 7.89% | 83.25% | 54.28 | 32% in 2023 | 32% |
| Singapore | SEA | 41.74% | 93.50% | 54.33 | 18% in 2023 | 18% |
| USA | USA | 67% | 82.80% | 173.96 | 11% in 2022 | 11% |