Endava: Three trends shaping the payments industry in SEA

Southeast Asia’s payment landscape has rapidly evolved, with COVID-19 accelerating the adoption of new digital payment methods. Fintech growth has led to new trends reshaping the landscape and causing traditional banks to rethink their approach.

According to a report by Endava, on the trends reshaping the payment landscape in Southeast Asia, despite the digital economy’s rapid growth, cash remains important, particularly among the unbanked. While some mature markets move towards becoming cashless, Cambodia, Indonesia, and the Philippines still have high percentages of unbanked individuals that the government and private sector aim to reach.

In an insightful conversation with #biztechasia, Adrian Bugaian, Delivery Partner at Endava, delved deep into the findings from the company’s payments report and how the payments landscape in Southeast Asia will be transformed by three key trends: National Cross-border Real-time Payments, Buy Now Pay Later, and E-commerce and Mobile Payments.

Additionally, Adrian shared:

An overview of Endava and its footprint in the Asia Pacific region
Success stories of how Endava has helped its customers achieve their business goals
How the company differs from behemoths in the industry and its sweet spot for success
A look at the trends reshaping payments in Southeast Asia, including the methodology and countries involved
Endava’s plans for the Asia Pacific region in 2023/2024