Abstract

This IDC FutureScape presents IDC Financial Insight's view of the top 10 predictions for payments strategies as they apply to the Asia/Pacific (excluding Japan) (APEJ) region. Payments in the APEJ region are in a period of significant change and transformation. Cash dominant markets have seen waves of new payments emerge at a rate faster than in any other period of history and new business models anchored by new payments platforms are being quickly adopted by both consumers and merchants. IDC's predictions in this document contextualized for the Asia/Pacific region allow financial institutions to better understand and identify the major changes occurring, which will impact their business and offer guidance on how to reposition themselves to successfully navigate the challenges that lie ahead.

"Payments in the Asia region are not only following many global trends but are setting their own course of development. With the region already having the highest numbers of mobile wallet users globally, further initiatives in real-time payments and corporate payments as well as in the underlying technology anchoring payments will drive further transformation in the region," says Michael Yeo, associate research director, IDC Financial Insights." Financial institutions, which are able to identify the changes, where the opportunities lie and how to capitalize on them, will stand the best chance to maintain innovative and market leading positions in the payments sphere."

Coverage