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Tag: digital payments

Alipay+ Links to QR Ph to Connect 2.5 Million Philippine Merchants to Global Wallets

Philippine Payments Management Inc. And Ant International have integrated Alipay+ into QR Ph, opening the country’s standardized merchant network to international digital wallet users across 2.5 million businesses.

The integration connects arriving tourists directly to local point-of-sale systems after QR Ph transaction volumes jumped more than thirteenfold in 2025.

Under the rollout, overseas visitors pay by scanning existing merchant QR Ph counter stands with their home banking applications and digital wallets. Filipino merchants receive payments in Philippine pesos through their standard settlement accounts without installing separate point-of-sale hardware or signing individual foreign merchant contracts. Bangko Sentral ng Pilipinas figures show digital channels handled 64.69 percent of total retail transaction volume nationwide in 2025.

How the Cross-Border Routing Works

Ant International operates Alipay+ as an aggregation switch connecting more than 50 e-wallets, bank apps, and domestic clearing systems covering two billion accounts globally. The Philippine Payments Management Inc., established under the National Payment Systems Act to oversee retail clearing houses PESONet and InstaPay, acts as the local operational counterparty under central bank supervision.

Transactions clear instantly over the domestic interbank infrastructure. By routing foreign user credentials through the standardized QR Ph matrix, independent grocers, transport operators, and shopping mall tenants process foreign spend through their existing merchant acquiring banks.

Through our partnership with Alipay+, we are extending that connectivity beyond our borders, enabling Filipino merchants, particularly SMEs, to serve international customers.

Carmelita Araneta, general manager of Philippine Payments Management Inc., confirmed the system enables local micro, small, and medium businesses to capture inbound tourist spending directly without upgrading terminal hardware.

Regional QR Linkages Across Southeast Asia

Central banks across the Association of Southeast Asian Nations spent five years connecting national QR systems through bilateral central bank arrangements, including links between Singapore, Thailand, Malaysia, and Indonesia. Ant International has taken a parallel commercial route by plugging its private wallet switch directly into ten national QR schemes across Asia, the Middle East, and Latin America.

Retailers benefit immediately from broader payment acceptance, yet the shift consolidates settlement traffic onto private gateway protocols rather than public central-bank settlement rails. For merchant acquirers and payment processors in Manila, merchant acquisition margins face pressure as payment routing shifts toward high-volume, low-margin standard QR processing.

Central Bank Mandates and the Next Phase

The Bangko Sentral ng Pilipinas designated PPMI as the country’s official payment system management body under Circular 980 in 2018, mandating standardized QR codes to eliminate proprietary closed-loop merchant terminals. That policy push cleared the ground for interoperability between competing domestic mobile wallets before enabling cross-border integrations.

Ant International is now rolling out artificial intelligence analytics and fraud screening modules across its regional merchant network to manage currency conversion risks and transaction disputes. The Philippine clearing body will monitor cross-border settlement volumes through InstaPay as inbound tourist arrivals ramp up across provincial retail corridors.

September 8, 2026
Indian Gen Z Spends Three Times More on Quick Commerce Than Older Shoppers

Indian Gen Z shoppers spend three times more on quick commerce platforms for groceries than consumers over 30, allocating 2.6 per cent of their wallet share to instant delivery.

By contrast, traditional supermarket chains such as D-Mart capture just 0.85 per cent of their spending, according to transaction data from credit-on-UPI fintech platform Kiwi. Consumers aged 30 and older continue to direct the bulk of their grocery budgets to physical stores and neighbourhood kirana shops.

Shifting priorities in grocery and credit

Younger shoppers in India are bypassing traditional discount hunting in favour of speed. Kiwi, which analysed 25,000 users between June and July 2026, found that Gen Z cardholders use credit selectively for high-value items while relying on app-based delivery for routine supplies.

They also spend 20 per cent more on rental and education payments compared to older age groups, pointing to heavy reliance on credit for essential recurring living costs. When financing larger transactions through equated monthly instalments, Gen Z users consistently choose longer repayment windows to reduce monthly outgo, accepting higher overall interest charges in exchange for immediate budget flexibility.

“Gen Z is not necessarily using credit more frequently; they are using it differently,” said Siddharth Mehta, co-founder and chief operating officer at Kiwi. “Our data shows that convenience is playing a much bigger role in how younger consumers make payment and credit decisions.”

Everyday essentials dominate digital wallets

The pivot toward speed over pricing rewards mirrors broader consumer shifts across South Asia, where instant delivery platforms like Blinkit, Zepto and Swiggy Instamart have eroded market share from established hypermarkets. A separate study of 520,000 users by payroll fintech SalarySe confirmed that Gen Z spending remains concentrated on essential living costs, utilities and recurring digital subscriptions managed through automated UPI mandates, rather than discretionary lifestyle splurges.

Kiwi, which has issued more than 200,000 RuPay credit cards over the past two years, reported a 10 per cent higher wallet share among Gen Z users compared to millennials on its platform. Retailers and card issuers now face the challenge of retaining young consumers who show little loyalty to multi-card cashback schemes, focusing instead on whether quick commerce operators can sustain current delivery speeds as order volumes rise into the festive quarter.

August 31, 2026
Asia-Pacific Takes 42.5 per Cent of Global E-Commerce Market Heading to $19.8 Trillion

Asia-Pacific captured 42.5 per cent of the global e-commerce market in 2025, leading an industry projected to reach $19.83 trillion by 2035. The worldwide sector stood at $7.65 trillion in 2025 and is tracking toward $8.42 trillion in 2026, driven by mobile internet adoption and direct-to-consumer digital channels.

China, India, and Southeast Asia anchored the regional share, outpacing North America at 24.3 per cent and Europe at 20.1 per cent. Electronics and media formed the largest single product category globally, generating $1.98 trillion in 2025, while fashion and apparel climbed at an 11.3 per cent annual rate.

Mobile Checkouts and Direct Sales

Consumer shift to mobile devices altered checkout dynamics across major platforms. Mobile internet access passed 5.5 billion users in 2025, pushing retailers to redesign storefronts around single-screen purchase funnels. Data from platform operator Shopify showed 73 per cent of transactions took place on mobile devices, helping reduce cart abandonment below 55 per cent.

Brand-owned direct-to-consumer platforms generated $1.42 trillion in 2025, accounting for 18.5 per cent of total e-commerce revenue. Retailers spent more than $22 billion on artificial intelligence recommendation engines during 2024 to lift conversion rates by 15 to 25 per cent. Marketplace platforms retained the largest transaction volume, with projections pointing to 10.6 per cent annual expansion through 2035.

For retailers across Asia, these numbers reflect a structural transition from basic marketplace storefronts to proprietary apps and conversational commerce tools. Brands that relied entirely on third-party aggregators five years ago are redirecting capital into unified backends that handle social shopping, mobile web, and offline inventories together.

Payment Infrastructure and Regulatory Hurdles

Instant payment networks accelerated transaction volumes throughout emerging markets. India’s Unified Payments Interface processed more than 14 billion transactions monthly by late 2024, while digital wallets accounted for over half of all online payments globally.

Operating costs and compliance mandates continue to squeeze vendor margins. Last-mile logistics represented 41 per cent of total supply chain expenses, amplified by urban fuel and labor costs. Tightening data protection rules, including India’s Digital Personal Data Protection Act, added compliance expenses equivalent to two to five per cent of digital marketing budgets.

Cross-border sellers now face tighter platform vetting as international agencies track counterfeit goods, which totaled $509 billion in worldwide trade. The next operational test comes as national customs authorities implement revised digital tax rules across regional trade corridors through 2027.

August 31, 2026
Shopee Monetises Marketplace Platform with Tiered Seller Fees and Paid Services

Singapore-based Shopee generates its core income from a multi-tiered marketplace model charging seller commissions between 1 and 6 per cent alongside payment and fulfillment fees across Southeast Asia.

The platform, founded in 2015 by Forrest Li, reached 1.78 billion dollars in annual revenue during 2020 as it scaled past regional rivals to capture merchant transaction flows.

Commission Structures and Paid Merchant Tools

Standard marketplace merchants pay base commissions of 1 to 2 per cent per completed sale. Brands listed on the premium Shopee Mall tier face higher commission rates that climb to 6 per cent depending on the product category and transaction volume.

Transaction processing adds another 2 per cent fee to cover payment handling. Merchants looking for wider reach buy search visibility through a cost-per-click advertising system, placing sponsored listings across product queries and feeds.

Warehousing and shipping generate additional revenue through Fulfilled by Shopee, a proprietary distribution program that bills sellers on a per-item rate determined by package dimensions and weight.

Ancillary Services and Regional Competition

Beyond traditional retail transactions, the company captures payments revenue through its ShopeePay digital wallet. It also takes merchant commissions and consumer delivery fees on orders processed through its ShopeeFood division.

The platform established market leadership over Alibaba-backed rival Lazada across Southeast Asia before launching localized operations in Latin American markets including Brazil, Mexico, Colombia, and Chile. RetailNews Asia tracks how marketplace operators in the region steadily adjust take-rates and ad loads as merchant competition tightens across core territories.

Market watchers are monitoring whether Shopee can maintain seller retention across Southeast Asia while defending merchant margins against regional competitors.

August 31, 2026
China Expands Digital Yuan Network to Accelerate Adoption with Eight New Banks

China has taken a significant step to boost the adoption of its central bank digital currency, the digital yuan or e-CNY, by adding eight new banks to its operational network. This expansion is designed to make the digital currency more accessible and integrated into daily financial transactions for consumers and businesses nationwide.

Previously, only six state-owned commercial banks were authorised to handle e-CNY services. The inclusion of new institutions, including joint-stock commercial banks and city commercial banks, broadens the reach of the digital currency, allowing more citizens to open digital wallets and conduct transactions through a wider array of banking applications.

Broadening Access and Integration

The People’s Bank of China has been systematically rolling out the digital yuan in various pilot programs since 2019. These initiatives have included trials for cross-border payments, subsidies, and a wide range of retail scenarios, showing the currency’s potential utility. By expanding the network of participating banks, the central bank aims to move beyond these pilot stages and achieve more widespread public use.

This strategic push is expected to streamline payment processes and enhance financial inclusion, particularly in areas where traditional banking services might be less accessible. The increased competition among banks offering e-CNY services could also lead to more innovative features and improved user experiences, benefiting both consumers and retailers.

Implications for Asia’s Digital Payments

The drive to scale the digital yuan network highlights China’s commitment to advancing its digital economy and potentially establishing a leading role in global central bank digital currency development. As the e-CNY becomes more entrenched in the domestic market, it presents new considerations for retailers and brands operating within China, particularly regarding payment infrastructure and consumer spending habits.

For RetailNews Asia, this development signals a continuing trend across the region towards digitisation of financial services. Countries like Singapore and Thailand are also exploring or implementing their own digital currency initiatives, suggesting a future where digital currencies could play a more prominent role in cross-border trade and regional financial ecosystems.

August 21, 2026
Digital Payments Now Comprise over 64% of Philippines Retail Transactions

Digital payment methods have significantly surpassed traditional cash transactions in the Philippines, now representing 64.7 percent of all retail transactions by volume in 2025. This figure is a notable increase from 57.4 percent in the previous year, demonstrating a rapid adoption of electronic payment channels across the archipelago.

The Bangko Sentral ng Pilipinas (BSP) reported that this growth has exceeded its target of 50 to 54 percent. The central bank credits its efforts towards interoperability, ensuring that a broad range of businesses and service providers operate within a unified payment system. This integration enhances the value proposition for all participants, including consumers, businesses, banks, and e-wallets, by expanding the network’s reach and utility.

Accelerated Digital Shift in Retail

The rise of digital payments in the Philippines has been dramatic, climbing from just 20.1 percent of retail transactions in 2020. The share grew to 30.3 percent in 2021, 42.1 percent in 2022, and 52.8 percent in 2023, before reaching the current level. This sustained momentum underscores a fundamental change in consumer behavior and retail operations across the country.

Key drivers behind this acceleration include a 69.4 percent increase in digital payment accounts and a 36.3 percent expansion in the number of merchant locations accepting digital payments. QR Ph transactions, the national QR code standard, surpassed both debit and credit card transactions for the first time in 2025. A total of 2.47 billion QR Ph transactions, valued at P1.16 trillion, were processed during the year, reflecting a growing preference for interoperable, account-based payments among Filipinos. This wider adoption generates network externalities, where the convenience and value of electronic payment channels increase as more entities join the ecosystem.

Broader Financial Inclusion and Future Outlook

Beyond retail transactions, the push for digital payments aligns with the BSP’s broader goal of deepening financial inclusion. The number of basic deposit accounts reached 27.9 million as of March, up from 27.6 million at the end of 2025, with 177 banks now offering these accessible accounts. The central bank has also welcomed initiatives by several banks to reduce or waive interbank digital transaction fees, anticipating that lower costs will make electronic fund transfers more affordable and accessible for households and small businesses.

For retailers and consumer brands operating in the Philippines, this trend necessitates continued investment in digital payment infrastructure and smooth integration of various e-wallet and QR code solutions. The rapid adoption seen in the Philippines mirrors similar patterns across Southeast Asia, where countries like Indonesia and Vietnam are also experiencing significant shifts towards cashless economies. This transformation offers opportunities for businesses to streamline operations, enhance customer experience, and reach a wider, digitally-savvy consumer base.

August 20, 2026
Australia to Shake Up Digital Payment Regulations

Australian authorities will revamp the regulatory landscape for digital payments, broadening its remit on online transaction providers, cryptocurrency exchanges, and the possible creation of a central bank digital currency.

On crypto exchanges, Australia will begin consultation early next year on establishing a licensing framework and regulations for businesses the hold crypto assets on behalf of consumers.

It will also consult on the feasibility of a central bank digital currency with advice provided by the end of 2022.

Online transaction providers and buy-now-pay-later providers will also effectively see the end of unregulated business as Australia will also broaden its payment laws to cover such payment players.

If we do not reform the current framework, it will be Silicon Valley that determines the future of our payment system, according to a report citing notes by Australian treasurer Josh Frydenberg.

Australia must retain its sovereignty over our payment system.

December 8, 2021
Singapore Digital Payment Provider Expands Abroad

Digital payment and digital banking solution provider Fomo Pay has opened an office in Kuala Lumpur, Malaysia and has partnered OCBC Bank on a cross-border funds collection service.

Fomo Pay has made its first overseas foray into Malaysia, and has partnered OCBC Bank (Malaysia) to develop the country’s first merchant cross-border QR code collection service, the Singapore-based firm announced Tuesday on its blog.

Under the partnership, Malaysia merchants can collect payments from Singapore customers on PayNow via direct QR code payments through OCBC OneCollect. Prior to this, QR code payments in Malaysia could only be done for local ringgit currency transactions.

The collaboration «opens up opportunities to provide customer support in a larger territory, and signals continued rapid growth for the company in the region,» Fomo Pay said.

Fomo’s decision to open an office in Kuala Lumpur ties in with the company’s expansion strategy to focus on Southeast Asia and other emerging economies, which are undergoing rapid digital transformation, it said.

Fomo Pay allows merchants to accept a full suite of new payment methods including WeChat Pay, NETSPay, Grab Pay, SingTel Dash, EZLink Pay, mVISA and more.

It was launched in 2015 and acquired 4,000 merchants within its first year. Its network now includes Changi Airport, Marina Bay Sands, StarHub, Jumbo, Club 21, Chanel, Singapore Press Holdings and more.

April 23, 2020
Digital Payments in China Surge

China’s digital payment market grew to $8.4 trillion in the last quarter of 2019 and there are signs of still robust momentum in the months following the outbreak.

By transaction volumes, Alipay retained the top rank with 55.1 percent followed by Tencent’s two platforms – WeChatPay and QQ Wallet – at 38.9 percent, according to a report (Mandarin only) by independent research firm iResearch.

The remaining 6 percent where split between 1qianbao (1.4%), JD Pay (0.9%), UMPay (0.6%), 99bill (0.6%), Yeepay (0.5%), China UMS (0.3%), Sunin Pay (0.2%) and others (1.5%).

59.8 trillion yuan ($8.4 trillion) in total digital payment representing a year-on-year increase of 13.4%

Even in the midst of an ongoing coronavirus outbreak, the Chinese digital payment market signaled strength, the report underlined.

Beijing-based grocery startup Meicai attracted 800,000 new users in one week on an online platform that connects farmers with consumers and restaurants. Between March 18 and 22, Alipay registered average daily purchase of nearly 1.1 million cups of milk tea via branding programs.

April 6, 2020
Digital Payments to Cross $1 Trillion in Southeast Asia by 2025
Technology has made financial services more accessible to users in the region, and it is projected to expand further to reach 100 million Southeast Asians with limited access to financial services today, according to a report published by Google and partners.

The adoption of digital payments in Southeast Asia has reached an inflection point and is expected to grow from $600 billion today to cross $1 trillion by 2025, according to the «e-Conomy Southeast Asia» report published on Thursday by Google, Temasek and Bain & Company.

The surging levels of digital payments adoption and usage are in line with other Internet economy sectors such as ride-hailing and e-commerce, and will account for almost half of all money spent in the region by 2025, the report said. In addition, e-wallets are expected to grow even faster, from $22 billion in 2019 to $114 billion in 2025.

Access to basic financial services remains poor because the adoption and usage of financial services business models enabled by technology are still limited in Southeast Asia, the report says. Only 104 million of the region’s 400 million adults are «banked,» meaning they have full access to financial services. There are 98 million underbanked – with a bank account but limited access to credit, investment and insurance. The remaining 198 million are «unbanked.» Small and medium enterprises also face large funding gaps.

The report explained this as a result of high costs in a region lacking physical infrastructure, as well as the absence of public registers, identification systems and reliable credit information. In addition, tight regulations have stifled competition and innovation. However, it said that payments, remittance, lending, investment and insurance are ripe for transformation.

For digital financial services to grow, governments and policymakers have an active role to play in providing supportive regulations. «The biggest drag on investment levels is the uncertainty surrounding regulations and the risk that entire business models may suddenly become unviable,» the report said.«e-Conomy Southeast Asia is a multi-year research program that looks at the internet economy in the region’s six largest markets: Indonesia, Malaysia, the Philippines, Vietnam, Thailand and Singapore. The report notes that the internet economy has, for the first time, crossed the $100 billion mark – a 39 percent increase from $72 billion in 2018.
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October 16, 2019
Chinese digital payments reach nearly $2.9tr in 2016

Alipay and WeChat Pay enabled $2.9 trillion in Chinese digital payments in 2016, up twenty-fold increase in the past four years, according to a new UN study.

The data show that digital payments, using existing platforms and networks, provide access to a wider range of digital financial services, expanding financial inclusion and economic opportunity throughout China and neighboring countries.

In India, both Ant Financial and Tencent have bought into the Indian mobile payments market, which is enjoying rapid growth under new regulation.

Ant Financial and Alibaba invested up to $900 million in PayTM, as well as sharing staff and technical expertise. The result: PayTM has grown from 5 million to around 200 million users in just the last few years.

Indonesia was the fastest-growing m-commerce market in the world in 2016, the report showsexpanding 155% from January 2016 to January 2017.

Some of this growth may be due to the release in 2015 of BBM Pay’s Instant Mobile Payments. The popular BBM chat app has over 55 million users in Indonesia and continues to develop.

The new report by the UN-based Better Than Cash Alliance contains key lessons to help other countries include more people in the economy by transitioning from cash to digital payments.

This shift could increase GDP across developing economies by 6% by 2025, adding US$3.7 trillion and 95 million jobs, according to a McKinsey Global Institute report.

“Social networks and e-commerce platforms are growing in every economy, whether large or small,” said Ruth Goodwin-Groen, Managing Director at the Better Than Cash Alliance.

“In China digital payments are thriving from these channels, bringing millions of people into the economy. This matters because we know that when people – especially women – gain access to financial services, they are able to save, build assets, weather financial shocks, and have a better chance to improve their lives.”

May 3, 2017
Digital payments fueling FinTech investments in APAC
The APAC FinTech landscape is witnessing unprecedented growth, with FinTech solutions and services expected to gross more than $70 billion in revenue by 2020.

Market research firm Frost & Sullivan believes the market is on track to record a CAGR of 72.5% over this period.

“Asia-Pacific FinTech investment increased exponentially in 2015. There was a four-fold increase of investments in APAC FinTech companies from 2014 to 2015 which shows growing investor confidence in the Asia-Pacific region. Meanwhile 42% of the investment deals concentrated on digital payments,” Frost & Sullivan VP for digital transformation Ajay Sunder said.

Innovation hubs have formed around Hong Kong, Singapore and Sydney riding on the back of favorable government regulations, strong start-up ecosystems and heavy consumer demand among the 18-34 demographic group in particular.

The emergence of new business models is enabling players to innovate and invest in technologies such as Blockchain, digital payments, cloud services, cyber security, product lines and solutions. Players must rethink strategies and align their business vision with technology goals to define their value proposition to customers and survive in the rapidly evolving digital ecosystem.

“Digital payment will remain the largest segment, primarily driven by mobile payment solutions, while Blockchain will not remain limited to financial services; there will be new use cases for Blockchain, and traditional ICT vendors will start offering Blockchain-as-a-Service,” noted Sunder.

Frost points to innovative services providers such as BitSE, Canopy, Coinsecure, DxMarkets, Freecharge, HedgeSPA, MOLPay, Otonomos and TranServ as addressing unmet needs, embracing new technologies and gaining a disruptive advantage by leveraging diverse opportunities.
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November 30, 2016
Banks take up Visa Token Service

An extra layer of security for mobile and digital payments has been introduced by Singapore’s United Overseas Bank (UOB) and Australia’s National Australia Bank (NAB).

As well as making transactions safer, the new Visa Token Service also makes instore shopping easier.

Credit or debit cards are no longer necessary under the Australian bank’s new mobile payment service,NAB Pay, which lets customers use their mobile phone for purchases.

For UOB customers, the Visa Token Service has been integrated into the UOB Mighty digital wallet. It allows UOB Visa credit or debit card users to make contactless payments via an app on NFC-enabled Android smartphones at selected outlets in Singapore and overseas.

Visa’s new technology replaces sensitive account information found on payment cards with a unique digital identifier or “token” that does not expose account details during the payment process. Tokenised cards are also domain controlled, meaning they link to the user’s phone or wallet application and are validated in real time by the global payment-processing platform VisaNet.

Launched in the US, the Visa Token Service is being rolled out in several markets across Asia Pacific over the coming months. As payments shift from plastic to digital, Visa is working with financial institutions, merchants and technology partners to offer consumers a secure and easy way to buy.

A key benefit of the service is that tokens do not carry the user’s primary account number, so there is less risk of storing them on mobile devices, online (eCommerce merchants) or in cloud-based mobile applications.

Using ISO standards, the tokens can be processed and routed by merchants, acquirers and issues in the same was a traditional card payments.

Tokens tied to lost or stolen mobile devices can be instantly reissued, and multiple tokens can be used for a single primary account, each tied to a specific device or service. Tokens can also be exclusive to specific merchants, mobile devices, transactions or transaction categories.

VisaNet is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants.

February 2, 2016