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The ASEAN countries of Southeast Asia are investing heavily in payment technology as they prepare for what could be the world's first cross-border, multi-currency real-time payment infrastructure.


  • Planned investment varies across ASEAN: 53% of Singapore-based respondents expect investment to rise by 5% or more compared to 13% in Malaysia and Thailand.

Features and Benefits

  • Learn how the 10-year ASEAN 2025 economic program will ultimately lead to a pan-regional real-time payment ecosystem.
  • Interoperability and harmonization efforts, as well as cost, are driving FIs to move to off-the-shelf solutions.

Key questions answered

  • Where are ASEAN FIs investing as they prepare for future changes in payment systems?
  • Why are FIs investing heavily in new payment systems when they have yet to develop business cases for doing so?

Table of contents


  • Catalyst
  • Ovum view
  • Key messages


  • Recommendations for financial institutions
  • Recommendations for vendors

ASEAN payment operators are working in a pan-Asian context

  • ASEAN members plan cross-border real-time payments service
  • Banks have differing expectations of real-time payments
  • Immediate payments will enable new service offerings and drive revenue growth
  • Enthusiasm for immediate payments is high across the region

Payment systems investment in the ASEAN region is split between hygiene factors and innovation

  • There is considerable variation in the pace of investment growth among ASEAN countries
  • Reducing reliance on in-house developments is central to cost reduction and simplification
  • Investment is shifting toward off-the-shelf packages


  • Methodology
  • Author