Summary:
2025 marks a significant transformation in the APAC digital payments landscape.
BNPL is experiencing a resurgence, particularly among younger consumers.
Cryptocurrency and stablecoin adoption is increasing, especially in high-growth economies.
CBDCs are being explored as a viable digital payment method.
Cash remains resilient despite the growth of digital payments.
As we step into 2025, the APAC region is witnessing a significant financial transformation driven by digital wallets and real-time payments. Our latest report, The State Of Digital Retail Payments In Asia Pacific, 2024, delves into the state of digital payments across six key APAC markets: Australia, metro China, Hong Kong, Singapore, Malaysia, and Indonesia. Here are some key insights from the report:
- Buy now, pay later (BNPL) has bounced back. Despite initial regulatory challenges, BNPL is gaining traction among Gen Z and Millennials due to its flexible repayment options.
- The usage of cryptocurrency and stablecoins is on the rise, especially in high-growth markets like India and Indonesia. Consumers are becoming increasingly familiar with these digital currencies.
- Central Bank Digital Currencies (CBDCs) are emerging as a promising payment method, with several countries in APAC exploring or implementing these initiatives.
- Digital payments are thriving in both high-growth and mature economies, largely due to their convenience over traditional methods.
- Despite the surge in digital payments, cash remains resilient and popular for both online and offline transactions.
In this rapidly changing landscape, understanding consumer preferences and behaviors is crucial for businesses. Banks, payment services, fintech companies, and merchants must adapt their solutions to effectively serve their clientele. For deeper insights, read the full report here.
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