Global mobile phone users are projected to reach 4.8 billion by 2025, compared with 2.8 billion users in 2020. Businesses are tapping into this vast market as mobile wallets gain an increasing share of the payments market.
Global mobile phone users are projected to reach 4.8 billion by 2025, compared with 2.8 billion users in 2020. Businesses are tapping into this vast market as mobile wallets gain an increasing share of the payments market.
As the number of e-wallet players in Indonesia surges amid the vast market opportunities, bigger players have begun extending the competition beyond payments
The rapid transformation of domestic and cross-border payments brings new opportunities and challenges for financial institutions.Amid shrinking payment margins, players are rethinking their business models to better monetise data insights and integrate financing options such as “buy now, pay later” (BNPL). Industry experts share their views on the impact of this changing landscape, emerging value propositions, and key technology enablers for future growth
At the International Heads of Retail Finance Virtual Meeting on 28 August 2020, leaders from over 22 institutions in Asia Pacific, the Middle East and Africa, discussed key trends and issues impacting the industry. The rise of digital only banks, integrating lifestyle and finance through digital platforms, and improving customer experience were at the forefront of the dialogue.
While the growth of Alibaba and Alipay as well as Tencent and WeChat pay in China is well known, there have been questions about whether a similar model can succeed outside of China. Local players as well as those Chinese giants themselves are starting to show that a super-app may well succeed in other markets in Asia too.
The current disintermediation in payments and MSME lending marks the tip of the iceberg, and retail deposits may be the next battleground
Disintermediation by digital wallets and decentralised finance platforms is shifting deposit business dynamics, requiring conventional banks to innovate and stay competitive
A prominent player in Southeast Asia’s digital finance sector, the group saw significant growth in 2023, cutting losses by 29% despite a challenging economic environment
Southeast Asia’s platform players Grab, GoTo, and Sea Group streamline operations, with Sea Group emerging as a leader in profitability and growth