Payments infrastructure in Asia is generally fragmented and large numbers of people in emerging markets tend to be unbanked through traditional methods. While access to points of sale or bank branches is limited for the unbanked, mobile and internet penetration is on the rise.
“The payment landscape in Asia-Pacific has changed significantly over the past few years,” said Marc Mathenz, senior vice-president and head of Asia-Pacific at First Data Corporation. “There has been a continuous trend away from traditional payment channels and non-electronic payments like cash and cheque to credit cards, domestic debit cards, as well as internet banking and payment.”
Technology is perhaps the most important...
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