Editor’s note:Aung Kyaw Moe is the founder and Group CEO at 2C2P.
China’s e-commerce, m-commerce and payments lead the world. It is the largest e-commerce market (KPMG), and is home to Alibaba, with its US$25 billion IPO, the largest in history. Alipay, China’s answer to PayPal, is the world’s largest online payment service.
Tencent, the fifth-largest internet company after Google, Amazon, Alibaba, and eBay, has the largest online-to-offline e-commerce platform. Tencent also owns popular messaging app WeChat (aka Wexin), with 468 million users, linking social tools and online payments with TenPay and WeChat Payment.
But China is, well, China. A less appreciated Asian story is Southeast Asia where approximately 70 percent of residents do not have access to traditional banking services (McKinsey), with card penetration in some markets below 5 percent. Cash…
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