NIkkei Asian Review – Mobile payments going viral in Southeast Asia

E-Payments have begun to penetrate many common transactions in SEA including motorcycle taxis, mass transit, and money transfers. The market is set to explode to a $32 B valuation by 2021.

May 17, 2017

‘For a region that has lagged behind the rest of the world in terms of the number of credit cards and banking accounts, Southeast Asia has made remarkable strides toward a cashless society through the use of smartphone payments.

Smartphone penetration exceeds 50% on average in six major Southeast Asian nations, according to British research firm Euromonitor. That ratio is seen surpassing 70% in 2021, approaching the 80% concentration in Japan and the U.S.’

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