Banks are the most expensive type of service provider, with an average cost of 10.66% per transaction. The global average for all remittance methods is only 6.38%
Vietnam, and Venezuela have huge transaction volumes on peer-to-peer or P2P platforms, when adjusted for purchasing power parity per capita and internet-using population.
Afterpay co-founder Nick Molnar says merging with Jack Dorsey’s Square will provide the scale and reach to allow Afterpay to take on the giants of the global payments industry, after he and co-founder Anthony Eisen snared the biggest M&A deal in Australia’s history.
Southeast Asia is among the world's fastest-growing fintech markets. Market growth is anticipated to reach between $70 billion and $100 billion by 2020.
Southeast Asia is currently viewed as a significant fintech incubator and a rising cryptocurrency powerhouse thanks to the emergence of grants, programs.