Southeast Asia Contactless Payment Market Report 2021-2026 – Convenience and Safety Considerations During the Pandemic Drive Use and Growth

Dublin, Nov. 15, 2021 (GLOBE NEWSWIRE) — The “Southeast Asian Contactless Payment Growth Opportunities, Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

This study focuses on selected Southeast Asian countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. It considers drivers and restraints for the region, and drill down into country-specific opportunities and challenges.

The proliferation of COVID-19 has factored into the growth of contactless payments (made through a mobile device, wearable, or physical or virtual card, with the payee’s device or a merchant’s terminal initiating the transaction) in Southeast Asia. Customers want a safe and convenient way to do face-to-face transactions.

Regulations and other government interventions also are promoting a cashless society, although the use of cash is still popular in countries with smaller banked populations, specifically for micropayments for daily purchases.

Mobile phones, wearable devices, and mobile point-of-sale (POS) terminals provide the platform for a faster payment process. Open application programming interfaces (APIs) streamline the product development process, and emerging contactless payment technologies such as near-field communication (NFC), quick response (QR) code, magnetic secure transmission (MST), and virtual cards will encourage broader acceptance.

New payment innovations leveraging open banking APIs will pave the way for data sharing from multiple points, allowing providers to profile customers based on their behavior to improve the purchase experience.

As countries in the region gear up to roll out 5G, which could improve payment processing time and improve the customer experience, partnerships, mergers, or acquisitions among terminal vendors, payment processors, issuers, and telcos may be necessary to advance contactless payment use.

Key Topics Covered:

1. Strategic Imperatives

• Why Is It Increasingly Difficult to Grow?
• The Strategic Imperative
• The Impact of the Top Three Strategic Imperatives on the Southeast Asian Contactless Payments Industry
• Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Opportunity Analysis

• Scope of Analysis
• Market Definitions
• Key Questions this Study ill Answer
• Contactless Payment Value Chain
• Contactless Payment Business Models and Benefits
• Next-generation Contactless Payment Technologies
• Growth Drivers
• Growth Restraints
• Indonesia – Market Overview
• Indonesia – Transaction Value Forecast
• Indonesia – Market Analysis
• Malaysia – Market Overview
• Malaysia – Transaction Value Forecast
• Malaysia – Market Analysis
• Philippines – Market Overview
• Philippines – Transaction Value Forecast
• Philippines – Market Analysis
• Singapore – Market Overview
• Singapore – Transaction Value Forecast
• Singapore – Market Analysis
• Thailand – Market Overview
• Thailand – Transaction Value Forecast
• Thailand – Market Analysis
• Vietnam – Market Overview
• Vietnam – Transaction Value Forecast
• Vietnam – Market Analysis

3. Companies to Watch

• Companies to Watch – ePayment Terminals
• Companies to Watch – Mobile Payments

4. Technology Trends

• Artificial Intelligence for Contactless Payment Security
• Machine Learning for Contactless Payment Security

5. Growth Opportunity Universe

• Growth Opportunity 1 – Dual-interface Card for a Wide Range of Payment Applications
• Growth Opportunity 2 – Mobile-based POS Terminals for Affordable Merchant Onboarding
• Growth Opportunity 3 – Biometrics for Seamless Transaction
• Growth Opportunity 4 – Blockchain and AI Technology to Track Transactions

6. The Last Word

Companies Mentioned

• GCash

For more information about this report visit https://www.researchandmarkets.com/r/o8cn7

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