The meteoric increase in digital payments in Asia in recent years has led to a proliferation of new regulations as national regulators seek to keep pace with new digital payment technologies.
In turn, PSPs are coming under pressure to ensure that their technologies and business models comply with an increasingly complex regulatory landscape.
A patchwork of regulation, licensing and ownership restrictions make Asia a difficult market for operators and platforms to expand at speed, but the rewards outweigh the difficulties, with the regional industry likely to be worth US$1 trillion by 2025.
Our Asia team has outlined the five steps to digital payments success in this complex market.
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© Herbert Smith Freehills 2021