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Digital payments have seen a significant growth in Southeast Asia during the pandemic, with most countries foreseeing e-payments dominating the market in the next decade.

Digital payments in Southeast Asia

Consumers in Southeast Asia were increasingly opting for cashless payment methods, which includes cards, contactless cards, mobile payments, e-wallets and QR payments, even before the coronavirus pandemic disrupted life as we know it.

The business-to-business (B2B) payments market has been estimated to be bigger than the consumer market. According to EY, B2B payments are likely to account for US$150 trillion in global cross-border transaction by 2022.