Payment service provider GlobalCollect has further expanded its operations in the Asia Pacific, opening in Japan and Australia.
Earlier this year GlobalCollect, which serves both the e-commerce and m-commerce marketplaces, opened in Shanghai and Beijing having opened its Asia-Pacific regional headquarters in Singapore in 2008.
The expansion will better enable GlobalCollect to deliver its payments knowledge across a region which is experiencing the most growth in online commerce, it says.
The e-commerce market in Japan is expected to grow from $128 billion in 2012 to $182 billion by 2016 while the increasing penetration of m-commerce is set to drive growth in overall e-commerce revenues during 2012-2016.
Meanwhile, the m-commerce market in Australia has grown from $155 million in 2010 to $5.6 billion in 2012 and this is expected to grow further with anticipated increases in smartphone penetration. In 2012, e-commerce constituted 6.3 per cent of total retail sales in Australia, up from 5.5 per cent in 2011.
“With online retail rapidly growing throughout the Asia Pacific region, we are seeing an increased demand for our services,” said Mark Patrick, GM, Asia Pacific at GlobalCollect.
“We know that the most appropriate way to deliver the value of our experience and knowledge to each specific market is to fully immerse ourselves in that market.”
