Spotlight

Southeast Asia Proximity Mobile Payments Forecast 2022

What's Driving Vastly Different Growth Stories Across the Region

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About This Report
In 2022, four of the six Southeast Asian countries in our forecast will see double-digit growth in their number of proximity mobile payment users. Beyond delivering convenience to consumers, a host of other factors are driving adoption in the region.
Table of Contents

Executive Summary

The number of proximity mobile payment users is rising in Southeast Asia as consumers embrace new technologies and governments laud the digitalization of financial services. But penetration and growth rates vary widely across individual countries.

Key Question: Why is the growth of proximity mobile payment users faster in some Southeast Asian countries than in others?

KEY STAT: In 2022, growth in the number of proximity mobile payment users across the six major countries in our Southeast Asia forecast ranges from 16.7% in Malaysia (topping all countries in our worldwide forecast) to 4.1% in Singapore.

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Table of Contents

  1. Executive Summary
  2. A Confluence of Forces Is Driving Proximity Mobile Payment to New Heights in Southeast Asia
  3. What’s Driving Proximity Mobile Payment Adoption in Southeast Asia?
  1. Why Adoption of Proximity Mobile Payments Varies by Country
  2. What’s Next for Proximity Mobile Payments in Southeast Asia?
  3. Read Next
  1. Sources
  2. Media Gallery

Read This With Insider Intelligence

authors

Man-Chung Cheung

Contributors

Vivian Dong
Associate Forecasting Analyst
David Morris
Principal Analyst
Jaime Toplin
Senior Analyst
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