These countries are leading the way in the Asean fintech landscape

SINGAPORE (Nov 16): With countries including Singapore already moving towards a common national payments infrastructure and QR code standard, these trends could soon set the payment standard for Asean in the future, says United Overseas Bank (UOB).

In its new publication produced together with EY and Singapore FinTech Association, State of FinTech in ASEAN, UOB notes that 70% of wage payments and government transfers within Asean – with Singapore as the sole exception – giving rise to a “prime opportunity for digital wallets to thrive”.

The bank believes the momentum of financial technology (fintech) adoption is building, although its speed across Southeast Asia varies.

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