In the midst of the Covid-19 pandemic, a 2020 McKinsey report projected that Asia’s payments sector would be well positioned to exceed US$1 trillion in annual revenue by 2022 or 2023, despite also forecasting a temporary 1-8% decline in Asia’s 2020 payments revenue. Fast-forward two years later, and it looks like US$1 trillion may be on the lower side of expectations for digital payments in Asia. The accelerated migration online across all services was also reflected in the digital financial services. In the B2C payments space, mobile-first customers in emerging Asia Pacific (APAC) countries are leapfrogging those in more mature markets,…
Author: Rohit Narang, Managing Director of APAC at Currencycloud
Author
Rohit Narang, Managing Director of APAC at Currencycloud
Rohit Narang is the Managing Director of Asia Pacific (APAC) at Currencycloud, a leading provider of B2B embedded cross-border solutions. Since 2012, Currencycloud has processed more than US$100 billion to over 180 countries, working with banks, financial institutions and Fintechs around the world, including Starling Bank, Revolut, Penta and Lunar.