For merchants, payment firms and online platforms, checkout is becoming the pressure point. Southeast Asia’s SMEs need to take more payment methods, settle funds faster and manage fraud without giving up too much margin.
Small and medium-sized enterprises (SMEs) in Southeast Asia are expected to drive the next wave of e-commerce growth. The problem is that many of them are still relying on payment systems they say are too slow, costly or limited for the job.
The region’s e-commerce market is on track to reach US$289.8 billion ($368.7 billion) by 2029, up from US$156.3 billion in 2024, according to a study that payments platform 2C2P by Antom commissioned to the International Data Corp (IDC). That implies annual growth of 13.2%, putting Southeast Asia behind only India globally and ahead of the Middle East, China and Latin America.
