Ecommpay expands Asian payment methods amid USD $23.8T boom
Ecommpay is offering global businesses expanded support for alternative payment methods in Asia as part of its digital payments platform.
The payments provider now gives merchants access to regional options such as FPS QR in Hong Kong, OVO and QRIS in Indonesia, TouchNGo and Online Banking in Malaysia, and GCash, GrabPay and QRPh in the Philippines. Merchants can also utilise PromptPay and MoMo Wallet in Vietnam, with a full listing available via Ecommpay's official channels.
This development comes amid notable growth in Southeast Asia's digital economy. The region has experienced an 82% rise in the last five years, with per capita spending on digital services forecast to increase by 79% between 2022 and 2027. Citing a recent report by Money20/20 and FXC Intelligence, Ecommpay points to projections that the Asia-Pacific cross-border payment volume could reach USD $23.8 trillion in 2032, from USD $12.8 trillion in 2024.
Regional payment demand
Rosanna Helm-Visscher, Ecommpay's Global Head of Partnerships, said in a media statement that offering local payment preferences is key to success in Asian markets.
"Expanding into Asia presents a significant growth opportunity for businesses across various sectors," commented Rosanna Helm-Visscher, Global Head of Partnerships at Ecommpay. "However, success in this dynamic market hinges on understanding and accommodating local payment preferences.
"The tech-savvy, young and rapidly growing population is driving the adoption of digital solutions and demanding modern payment options. Merchants hoping to serve this region must be able to meet that demand and Ecommpay's comprehensive suite of Asian APMs is providing a frictionless checkout experience, building trust with local consumers and ultimately drive revenue growth."
The company believes that having access to a wide range of Alternative Payment Methods (APMs) can be decisive for merchant success. Its offer enables businesses to handle regulatory pressures while providing popular payment solutions favoured by consumers in the region.
Market expansion support
Ecommpay states that its platform gives international businesses the technology needed to address the complexities of Asian payment systems. The platform features advanced security measures to limit fraud risks and aims to ensure compliance with regional data privacy laws, international sanctions frameworks, and local regulations.
The group highlights its commitment to supporting firms entering new markets by helping to manage local requirements seamlessly within its payment ecosystem. Ecommpay's infrastructure seeks to simplify the process for businesses looking to expand or strengthen their presence across Asian countries.
Ecommpay's suite of solutions is intended to enable merchants to adapt to the growing cross-border eCommerce activity in Asia, where digital and mobile payments are fast becoming the norm. The company points to compliance and security as ongoing priorities in its approach to supporting its clients' growth strategies in the region.
The company asserts that the introduction of regional Alternative Payment Methods to its platform reflects ongoing demand among consumers and merchants for more choice and ease of use in payment solutions.
