Global Platforms Ranking 2023
With the rising strengths of platforms, TABInsights has launched a robust assessment of the leading 20 global platforms and ranked them according to a six-dimensional balanced scorecard. The scorecard assessment covers capabilities mapped across six key dimensions: customer, coverage and service scope, usage and engagement, financial performance, strategy and leadership. The best platform demonstrates exceptional efforts to bring together a wide variety of integrated and relevant services that customers require to manage their financial and non-financial needs.
Platforms will be a key area for innovation and differentiation for retail finance, whether fronted by global or regional financial technology companies, big-tech messaging and e-commerce players. Paradoxically, this will be an area for increased competition as well as collaboration, as traditional players seek to embed products and services seamlessly into the customer journey and experience.
| Rank | Platform | Country/Region | Year of launch | Customer | Coverage and Service Scope | Usage and Engagement | Financial Performance | Ecosystem | Strategy and Leadership | Final score | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Users/ Population | User growth | Total Score | # of markets | # of financial products |
Total Score | GTV/User | GTV growth | NPS | Total Score | Gross revenue | Revenue growth | Profitable (Y/N) | Total Score | Extensiveness of ecosystems | Total Score | Key achievements | Total Score | |||||
| Score | Score | 20% | Score | Score | 20% | Score | Score | Score | 20% | Score | Score | Score | 20% | Score | 10% | Score | 10% | |||||
| 10 | 10 | 20 | 10 | 8 | 20 | 10 | 10 | 10 | 20 | 10 | 10 | 10 | 20 | 10 | 10 | 10 | 10 | 100 | ||||
| 1 | Alipay | China | 2004 | 7.0 | 1.0 | 8.0 | 10.0 | 7.0 | 18.9 | 10.0 | 0.0 | 5.4 | 10.3 | 10.0 | 0.0 | 10.0 | 13.3 | 8.0 | 8.0 | 6.0 | 6.0 | 64.5 |
| 2 | Gcash | Philippines | 2004 | 5.0 | 7.0 | 12.0 | 7.0 | 7.0 | 15.6 | 8.0 | 6.0 | 7.6 | 14.4 | 2.0 | 6.0 | 10.0 | 12.0 | 3.0 | 3.0 | 7.0 | 7.0 | 64.0 |
| 3 | Wise | UK | 2011 | 2.0 | 7.0 | 9.0 | 10.0 | 3.0 | 14.4 | 10.0 | 4.0 | 3.0 | 11.3 | 5.0 | 8.0 | 10.0 | 15.3 | 5.0 | 5.0 | 6.0 | 6.0 | 61.1 |
| 4 | WeChat Pay | China | 2013 | 5.0 | 1.0 | 6.0 | 10.0 | 5.0 | 16.7 | 10.0 | 0.0 | 5.0 | 10.0 | 10.0 | 0.0 | 10.0 | 13.3 | 7.0 | 7.0 | 5.0 | 5.0 | 58.0 |
| 5 | M-Pesa | Africa | 2007 | 2.0 | 2.0 | 4.0 | 7.0 | 7.0 | 15.6 | 9.0 | 2.0 | 5.0 | 10.7 | 3.0 | 2.0 | 10.0 | 10.0 | 7.0 | 7.0 | 7.0 | 7.0 | 54.2 |
| 6 | KakaoPay | South Korea | 2014 | 8.0 | 2.0 | 10.0 | 6.0 | 4.0 | 11.1 | 8.0 | 2.0 | 1.7 | 7.8 | 3.0 | 2.0 | 10.0 | 10.0 | 6.0 | 6.0 | 6.0 | 6.0 | 50.9 |
| 7 | PayPal | Global | 1998 | 1.0 | 1.0 | 2.0 | 10.0 | 6.0 | 17.8 | 8.0 | 1.0 | 0.0 | 6.0 | 10.0 | 1.0 | 10.0 | 14.0 | 5.0 | 5.0 | 6.0 | 6.0 | 50.8 |
| 8 | DANA | Indonesia | 2017 | 9.0 | 8.0 | 17.0 | 1.0 | 2.0 | 3.3 | 1.0 | 10.0 | 5.8 | 11.2 | 3.0 | 6.0 | 0.0 | 6.0 | 6.0 | 6.0 | 7.0 | 7.0 | 50.5 |
| 9 | Apple Pay | Global | 2014 | 1.0 | 1.0 | 2.0 | 10.0 | 4.0 | 15.6 | 10.0 | 1.0 | 5.2 | 10.8 | 6.0 | 1.0 | 10.0 | 11.3 | 5.0 | 5.0 | 4.0 | 4.0 | 48.7 |
| 10 | Toss | South Korea | 2015 | 5.0 | 3.0 | 8.0 | 7.0 | 7.0 | 15.6 | 8.0 | 3.0 | 3.0 | 9.3 | 3.0 | 3.0 | 0.0 | 4.0 | 6.0 | 6.0 | 5.0 | 5.0 | 47.9 |
| 11 | Paytm | India | 2009 | 1.0 | 7.0 | 8.0 | 2.0 | 8.0 | 11.1 | 5.0 | 6.0 | 2.1 | 8.7 | 5.0 | 6.0 | 0.0 | 7.3 | 6.0 | 6.0 | 4.0 | 4.0 | 45.2 |
| 12 | MoMo | Vienam | 2010 | 3.0 | 5.0 | 8.0 | 1.0 | 7.0 | 8.9 | 4.0 | 3.0 | 4.7 | 7.8 | 2.0 | 4.0 | 0.0 | 4.0 | 7.0 | 7.0 | 7.0 | 7.0 | 42.7 |
| 13 | Grab | Southeast Asia | 2012 | 1.0 | 3.0 | 4.0 | 8.0 | 5.0 | 14.4 | 1.0 | 3.0 | 2.6 | 4.4 | 2.0 | 7.0 | 0.0 | 6.0 | 7.0 | 7.0 | 6.0 | 6.0 | 41.8 |
| 14 | GoTo | Indonesia | 2021 | 4.0 | 2.0 | 6.0 | 3.0 | 4.0 | 7.8 | 2.0 | 7.0 | 5.3 | 9.5 | 3.0 | 5.0 | 0.0 | 5.3 | 6.0 | 6.0 | 7.0 | 7.0 | 41.6 |
| 15 | Klarna | Sweden | 2017 | 1.0 | 1.0 | 2.0 | 10.0 | 3.0 | 14.4 | 3.0 | 3.0 | 2.8 | 5.9 | 6.0 | 2.0 | 0.0 | 5.3 | 5.0 | 5.0 | 7.0 | 7.0 | 39.6 |
| 16 | Papara | Turkey | 2016 | 3.0 | 7.0 | 10.0 | 1.0 | 5.0 | 6.7 | 1.0 | 2.0 | 2.0 | 3.3 | 1.0 | 3.0 | 10.0 | 9.3 | 5.0 | 5.0 | 5.0 | 5.0 | 39.3 |
| 17 | True Money | Southeast Asia | 2005 | 1.0 | 2.0 | 3.0 | 7.0 | 7.0 | 15.6 | 2.0 | 3.0 | 4.0 | 6.0 | 2.0 | 2.0 | 0.0 | 2.7 | 6.0 | 6.0 | 6.0 | 6.0 | 39.2 |
| 18 | Boost | Malaysia | 2017 | 1.0 | 3.0 | 4.0 | 7.0 | 3.0 | 11.1 | 5.0 | 3.0 | 2.7 | 7.1 | 1.0 | 6.0 | 0.0 | 4.7 | 5.0 | 5.0 | 5.0 | 5.0 | 36.9 |
| 19 | Google Pay | Global | 2015 | 1.0 | 1.0 | 2.0 | 10.0 | 3.0 | 14.4 | 3.0 | 1.0 | 3.0 | 4.7 | 8.0 | 1.0 | 0.0 | 6.0 | 4.0 | 4.0 | 4.0 | 4.0 | 35.1 |
| 20 | LINE Pay | Asia | 2014 | 1.0 | 2.0 | 3.0 | 4.0 | 7.0 | 12.2 | 7.0 | 1.0 | 3.0 | 7.3 | 3.0 | 1.0 | 0.0 | 2.7 | 5.0 | 5.0 | 3.0 | 3.0 | 33.2 |
| 21 | Venmo | US | 2009 | 3.0 | 4.0 | 7.0 | 1.0 | 4.0 | 5.6 | 8.0 | 1.0 | 0.0 | 6.0 | 4.0 | 1.0 | 0.0 | 3.3 | 4.0 | 4.0 | 5.0 | 5.0 | 30.9 |
| 22 | Samsung Pay | Global | 2015 | 1.0 | 1.0 | 2.0 | 10.0 | 2.0 | 13.3 | 2.0 | 1.0 | 1.0 | 2.7 | 1.0 | 1.0 | 0.0 | 1.3 | 3.0 | 3.0 | 2.0 | 2.0 | 24.3 |
Source: TABInsights
Methdology
The scorecard assessment covers capabilities mapped across six key dimensions: customer, coverage and service scope, usage and engagement, financial performance, strategy and leadership.
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