Robocash Group analysts predict an 86% surge in total payment volume in Southeast Asia (SEA), reaching USD53.9tr by 2027, according to a statement. Vietnam is expected to see the most significant growth, soaring by 152% to USD21.5tr and overtaking Indonesia, which is anticipated to reach USD18.3tr. Singapore is slated to be the second-fastest growing country, with its payment volumes predicted to rise by 68% to USD1.7tr in 2027. In 2022, payments by physical and legal entities in the Philippines, Singapore, Malaysia, Indonesia, Vietnam, and Thailand totaled USD29tr, exceeding the GDP of the United States or China. Robocash attributes this rapid growth to the boost in digital technologies spurred by the Covid-19 pandemic, supportive national digitisation programmes in each country, and significant investment in the region’s fintech payment infrastructure, which amounted to about USD60bn as of 2022.
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