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
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