One of the promises of fintech is also its capabilities in reducing the unbanked population, which still makes up about 50% of Southeast Asia, especially in Indonesia, the Phillippines, and Vietnam. Fintech in Indonesia and the Phillippines is already enhancing its services to reach out to the unbanked with Vietnam growing its fintech reach as well…
The current pandemic is leading to increased access to (and need for) digital banking services. As many as 50% of Southeast Asia consumers are unbanked; 70% are either underbanked or unbanked. The Covid-19 outbreak has drastically accelerated SEA’s shift to a cashless world, with unprecedented growth in the number of e-payment transactions amid a sharp..
By any number of key metrics, from internet connections to app downloads, both the volume and the growth of its digital economy now exceed those of most other countries. India is one of the largest and fastest-growing markets for digital consumers, with 560 million internet subscribers in 2018, second only to China. Indian mobile data..
Mastercard and Pine Labs will launch their integrated “pay later” solution in five more South East Asian markets early next year. Mastercard research shows 43% of consumers in the region would be willing to increase spending by at least 15% if they were to pay in instalments.