Asian travelers demand integrated payment wallets

They want booking and reservations in a single app.

Travelers want their payment apps to offer reservations and booking, according to a joint study by Alipay+ and S&P Global Ratings.

Of 6,000 consumers surveyed in nine markets across Asia, Europe, and the US, more than half (54%) of respondents said they spend more at local shops and eateries than malls or chain restaurants—which highlights the need for localised payment acceptance, said Alipay and S&P.

Consumers from China, Thailand, Malaysia, and Singapore reportedly show stronger demand for integrated experiences within a single app, the study found.

In contrast, consumers from Japan and Germany desire security, transparency, and predictable payment experience in their apps.

Globally, consumers polled want rewards and cashback (52%), better foreign exchange rates (51%), and expense tracking services (50%), with these three factors ranking amongst the strongest drivers of wallet usage globally, the study found.

They also expressed strong interest in restaurant reservations and payments (61%), all-in-one travel booking (58%), attraction tickets and passes (57%), and local transportation booking (54%).