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SE-Asia’s mobile payments face shakeout as market booms
- Friday | 18th October, 2019
Already, the region’s crowded mobile payments sector is starting to shrink, with each national market expected to support only two mass e-wallets, according to consultancy Oliver Wyman. “When you’ve got so many of them out there, it’s about who’s got the deepest pockets,” he said. Grab plans to invest $500 million (389.7 million pounds) in its Vietnam business, with payments a focus area. Some are using the cash to build scale, others to buy it, as they race to secure a dominant position in a mobile payments market estimated by Nomura to grow seven-fold to $109 billion by 2025. “By being the payments provider that connects the driver to the bank, we are able to make sufficient margin.
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