This is proof that Southeast Asia’s game market will mirror China’s in growth

Southeast Asia’s game market is set to go down the same path of growth as China’s, according to iAppPay’s CEO, Qiu Yuekun.

Speaking at Mobile Game Asia 2014, Qiu shared how the Southeast Asian game market for hardcore mobile games right now is similar to the Chinese market back in 2011, just before it took off.

Not only does Southeast Asia have similar cultural elements to China, its usage of game app, downloads, and revenue are also growing steadily. Malaysia, Thailand, Indonesia, Vietnam, and Philippines are the top five countries in terms of growth for these aspects. Malaysia even grew 121 percent in transaction volume in the past year.

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With a better mobile network compared to China’s, Southeast Asia has already exceeded China in consumer consumption since pickup on mobile games is quicker. It remains the fastest growing region in mobile usage.

What really is the definitive point of Southeast Asia mimicking China in the growth of a hardcore mobile games market is how the region has a better bank card penetration.

Cash cards used to be more popular in China until bank cards started getting more prevalent. Credit cards have never had a high penetration, so they don’t feature at all. According to Qiu, the same will happen in Southeast Asia as payment methods get more integrated with everyday services. Bank cards in China currently have a 72 percent penetration, compared to the 28 percent non-bank cards (cash cards, scratch cards) enjoy.

It was based on the bank card penetration trend that Qiu shared he was certain Southeast Asia’s market for hardcore mobile games would replicate China’s in growth.

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