Southeast Asia is going through a transformative period that is seeing its economies grow and a surge of people move into the formal banking sector. FinTech, Mobile Payments in particular, has enabled this transition and given people new economic possibilities. This has made Mobile Payments a growing market for investment and one European firms should aggressively pursue. Europe’s recent consolidation in its own FinTech market has created large industry players who are poised expand abroad. This paper argues Europe’s expertise on Remittances, Security, and Privacy will serve as competitive advantages that enable European firms to become influential players in Southeast Asia’s Mobile Payments market.
Johnathan Medina is a Junior Researcher at the European Institute for Asian Studies