Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Fintech»Philippines, Indonesia lead Mobile FinTech adoption in Southeast Asia
    Fintech

    Philippines, Indonesia lead Mobile FinTech adoption in Southeast Asia

    August 6, 20243 Mins Read


    By Gloria Methri

    Today

    • Digital Financial Technology Services
    • Digital Wallets
    • FinTech

    Mobile FinTechMobile FinTech penetration in six Southeast Asian countries has tripled since 2019, reaching 49% in May 2024, research from UnaFinancial revealed. The Philippines leads with 63%, followed by Malaysia (55%), Indonesia (49%), Thailand (45%), Singapore (45%) and Vietnam (32%).

    The study shows that the mobile FinTech app penetration in Southeast Asia reached 49% in 2024 and is expected to grow to 60% by 2030. The highest levels will be observed in the Philippines (72%), Indonesia (64%) and Malaysia (61%). This is supported by the growing super-platform economy, conducive regulatory frameworks and favourable economic conditions.

    “The Philippines’ leadership is due to several factors, including the large share of the unbanked population, regulatory efforts to develop digital financial technologies, a large proportion of the young and tech-savvy population and a growing level of mobile and Internet penetration,” explained a UnaFinancial Analyst.

    According to a Kepios analysis, there were 86.98 million internet users in the Philippines in January 2024. The country’s internet penetration rate stood at 73.6% of the total population at the start of the year.

    Meanwhile. Indonesia also stands out with the highest growth rate of FinTech users over the past 5 years. As per UnaFinancial, “The level of mobile FinTech app adoption increased from 9% in 2019 to 49% in 2024. Like the Philippines, Indonesia is actively developing FinTech, supported by government efforts and a large share of the unbanked population.”

    The leading segments of FinTech apps are digital wallets and payments (35%) and mobile banking (18%). The fastest-growing segment is lending apps, which showed an increase from 1% in 2019 to 5% in 2024. The lowest penetration levels are seen in investing and cryptocurrency trading apps (2% each), likely due to decreased investment activity amid the unstable global economic situation.

    FinTech App adoption set to surge by 2030

    UnaFinancial expects the share of FinTech app users in Southeast Asia to grow to 60% by the end of 2030. The Philippines will continue to lead with 72%. Indonesia will take second place with 64%, followed by Malaysia (61%), Thailand (50%), Singapore (48%) and Vietnam (41%).

    The analysts considered data from data.ai on the number of active users of FinTech applications starting from May 2019. In total, the sample included 8,740 apps (IOS + Android) across six countries in Southeast Asia (Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam).

    Previous Article

    5 Payments Banks facilitating tech-driven financial inclusion in India

    Read More



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    le salut de l’intelligence artificielle couplée à la blockchain ?

    Fintech

    le salut passe par l’intelligence artificielle couplée à la blockchain

    Fintech

    Le LQWD Canadian FinTech renforce Bitcoin Holdings, totalise maintenant 166 BTC

    Fintech

    Yellow Card s’associe à Visa pour promouvoir les paiements stables en Afrique

    Fintech

    Skarlett lève 8 millions d’euros pour devenir le chouchou des retraités

    Fintech

    5 conseils pour une adoption efficace de l’IA

    Fintech
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    New Cryptocurrency Releases, Listings, & Presales Today – KALP Network, KiloEx, AILayer Token

    Precious Metal

    Le boxeur biterrois Jaouad Belmehdi fait peur

    Commodities

    The Republicans who want to save the IRA

    Editors Picks

    AVERSED Bring Gothic Extreme Metal To M-Theory Audio, “Cross To Bear” Video Unveiled

    October 11, 2024

    Farmers, Rural Businesses To Harvest Benefits of New Project Selections | News

    July 18, 2024

    Bourse de Milan : progression malgré les incertitudes sur les droits de douane, bonnes performances du secteur pétrolier et des utilities

    May 30, 2025

    Strathcona Resources va lancer une offre publique d’achat sur MEG malgré l’accord de cette dernière avec Pan American Silver

    May 16, 2025
    What's Hot

    New Cryptocurrency Releases, Listings, & Presales Today – Apex AI, Quantum, Daolity

    May 25, 2025

    Le rock, une musique qui n’a jamais cessé d’être noire

    February 28, 2025

    Robinhood Crypto Volumes Double in Q3; October Number Set To Exceed Quarterly-Average At $5B, Says CFO – Robinhood Markets (NASDAQ:HOOD)

    October 31, 2024
    Our Picks

    The UK city just named ‘best’ to invest in property – as experts issue stamp duty warning | UK | News

    February 14, 2025

    Nelly Chatue-Diop, la pionnière des cryptos

    March 7, 2025

    Tidal Investments LLC Increases Stock Holdings in NGL Energy Partners LP (NYSE:NGL)

    August 11, 2024
    Weekly Top

    Rencontre avec Tabahi, seul groupe de thrash metal du Pakistan

    June 20, 2025

    Tout comprendre à la nouvelle étiquette énergie des smartphones

    June 20, 2025

    Silver Viper finalise l’acquisition du projet aurifère-cuivrique Cimarron

    June 20, 2025
    Editor's Pick

    7 MW pour électrifier l’Ituri

    June 18, 2025

    Les médecins alertent : qu’est-ce que le cadmium, ce métal cancérigène présent dans beaucoup d’aliments ?

    June 2, 2025

    Technological Revolution in Africa’s Cross-Border B2B Payments: Role of Blockchain and Digital Currencies

    August 27, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.