How digital payments could revolutionise liquidity itself
Real-time liquidity for all assets is the last stop on the drive towards a cashless society. Digital payments and cross-border e-commerce, where S-E Asia leads, is where it begins.
Add BT as a preferred source
CASH is being dethroned.
Most nations still mint metal and print paper for currency. But in Asia, the pace of change is well ahead. Business consultant McKinsey already called out Asia’s cashless lead in 2020 when it cited connected commerce, contactless consumers, and cross-border activity – all supported by digital payments – as key drivers.
In a more recent report, the consultant highlighted that South-east Asia is poised for up to 25 per cent annual growth in e-commerce for the next five years. Digital payments also underpin that trend, and in Asia, they’re set to grow nearly sevenfold into 2027, according to a market analysis report.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Rare brutalist Singapore house opens to the public before changing hands
