Going cashless in Asean

THERE is more commerce going around then ever before; more people are trading goods and money is being circulated across borders at an unprecedented rate. With all this activity going on, it's getting much harder to manage cash - both for institutions and the people using it.

Thanks to new advancements in financial technology, we're better-positioned to create smarter ways of using money. The rise of cashless solutions means that you can complete your business without ever touching a physical banknote.

But while governments and banks are racing to develop cashless solutions to drive down large cash management infrastructure costs, the cashless revolution hasn't quite taken off.

Yet in a region where more than 70 per cent of its 600 million population are unbanked, cashless solutions can generate a meaningful and transformational impact to South-east Asia's cash ecosystem…