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Asean+3 has made strong progress on cross-border payment connectivity, but more work lies ahead

The next phase of integration will matter most

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    • Shoppers in Myeong-dong in Seoul. Tourists in the Asean+3 bloc (comprising Asean's 11 member states and China, Japan and South Korea) increasingly do not carry cash, nor do they need to change currency for their trips.
    • Shoppers in Myeong-dong in Seoul. Tourists in the Asean+3 bloc (comprising Asean's 11 member states and China, Japan and South Korea) increasingly do not carry cash, nor do they need to change currency for their trips. PHOTO: BT FILE

    Dong He and Runchana Pongsaparn

    Published Mon, May 4, 2026 · 07:00 AM

    CROSS-BORDER payments have become more convenient across Asean+3 bloc, which comprises the 11 members of Asean as well as China, Japan and South Korea.

    Tourists in the region increasingly do not carry cash and there is no need for them to change currency ahead of travel. A mobile phone and a banking app are usually sufficient.

    Like a Singaporean enjoying Songkran in Thailand, a Malaysian shopping in Hong Kong or an Indonesian travelling through Japan, tourists can now make payments quickly and seamlessly.

    Aseanfinancial technologyeconomydigital currencyPaymentstokenisationStablecoinsdigital assets

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