Online Customers in Asia prefer Asian-made Gadgets for Making Payments: Report

Robocash Group finds Samsung was one of the most popularly used mobile phone brand, followed by China's Vivo and OPPO, from January to June 2019
Online Customers in Asia prefer Asian-made Gadgets for Making Payments: Report
Image credit: 24Novembers | Shutterstock
Senior Correspondent, Entrepreneur Asia Pacific
2 min read
Opinions expressed by Entrepreneur contributors are their own.

Smartphones have become a multi-purpose tool to deal with an immense number of tasks in our everyday life owing to its higher affordability and functionality. When it comes to online lending, mobile solutions only strengthen its advantages. A recently published report says that Asian markets have demonstrated a strong predominance of Asian-made smartphones as a tool to search and obtain online financing.

A fintech holding company, Robocash Group, which studied preferences of almost 1.8 million customers using its online lending services in the Philippines, Indonesia, Vietnam and India, has summed that Korea’s Samsung was one of the most popular mobile phone brands, followed by China’s Vivo and OPPO, for making payments. The company studied data for the first six months of this year (2019), from 1 January to 30 June.
Credit: Robocash

“With smartphones, fast access to finance no matter the location shows itself in full force. In Asia, 85-90 per cent of our customers use mobile devices. Remarkably, most of them are under 35 years old. Distinguished by extensive use of smartphones, they are also open to embracing new solutions and technologies. Over time, we will see an even higher significance of smartphones for both online lending services and other fintech solutions in Asia. The junction of technological, market and age aspects will play its part,” CEO of Robocash Group, Sergey Sedov, said.

While Chinese smartphones–Xiaomi, Vivo, OPPO–took second and third places in terms of popularity in these four countries, Apple is leading in Vietnam only, according to the study.

The study further finds that while desktop users viewed average number of its pages, smartphones or tablets served as the foremost tool to solve any issues in their users' routine life. “This state of things will surely increase the significance of mobile devices as a driver for the alternative lending market in the Asia Pacific region,” the report said.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur