SE Asia digital payments hit $620b during pandemic: Google-Temasek report

SE Asia digital payments hit $620b during pandemic: Google-Temasek report

Photo by chuttersnap on Unsplash

Digital payments in Southeast Asia hit $620 billion so far this year, from $600 billion last year, as the region registered 40 million first-time online users during the coronavirus pandemic bringing the total number of users to 400 million, according to the latest report launched by Google, Singapore’s state investment firm Temasek, and Bain & Co.

Overall, the region’s burgeoning internet economy continues to grow at an unprecedented pace, surpassing $100 billion this year and is on track to cross $300 billion by 2025.

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