Too Long; Didn't Read
E-wallet transaction volumes have significantly increased since early 2020. 310 million Southeast Asian consumers are expected to go digital by 2020, representing nearly 70% of the region's population. Digital wallets have become the third most popular payment method, only 1% behind credit and debit cards in a region that predominantly relies on cash. Smartphone usage is on the rise in Southeast Asia, with smartphone sales accounted for $23 billion in the region, surging by 4% despite the decline in global demand. Businesses should embrace e-wallet solutions to avoid missing out on a significant opportunity for growth.