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.