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According to a survey conducted between October and November 2023, mobile wallets were the most used payment method in Southeast Asia, with ** percent of the respondents using it. At the same time, cash was used by ** percent of the respondents.

Mobile wallet users are increasing

   An increasing number of people in Southeast Asia are adopting cashless payment methods. The cashless payment adoption rate reached over ** percent in most Southeast Asian countries. Mobile wallet users in Southeast Asia were the highest in Indonesia, reaching over *** million users. The number of mobile wallet users across major Southeast Asian economies was forecasted to continue to grow consistently in the coming years.

Consumers’ online spending habits

   Although many consumers still like to shop in physical stores, online purchases are becoming more popular. In a survey from 2023, over half of respondents from major economies in Southeast Asia made weekly online purchases. Furthermore, the share of online spending through mobile devices was more than ** percent in Thailand, emphasizing the growth of mobile device usage.