Thanks to an acceleration in digital transformation during the pandemic, the region is poised for a digital payments revolution, said PwC. Widespread mobile ownership, together with rapid digitalization after the pandemic, helped spur the expansion of digital financial services in Southeast Asia, said PwC.
Thanks to an acceleration in digital transformation during the pandemic, the region is poised for a digital payments revolution, said PwC. "This enhanced availability and convenience of digital payments will see the bulk of the regional population leveraging mainstream digital financial products, such as e-wallets, further expediting the expansion of financial services," said PwC in a report.
Asia-pacific Images Studio | E+ | Getty Images Southeast Asia is "supercharged" to power a shift toward digital payments and other innovations in digital services, thanks to an acceleration in digital transformation during the pandemic,Widespread mobile ownership, together with rapid digitalization after the pandemic, helped spur the expansion of digital financial services in Southeast Asia, said PwC. The region is made up of Singapore, Malaysia, Thailand, Indonesia, the Philippines, Vietnam, Brunei, Laos and Cambodia. Some examples include Thailand's PromptPay, which enables bank account users to receive and send payments via national IDs, mobile numbers or email addresse
Southeast Asia Digital Payments Digital Transformation Pandemic Digital Financial Services Mobile Ownership Rapid Digitalization Pwc