5 FinTechs shaping the future of transactions in Southeast Asia

• GrabPay (Singapore)

Initially launched as part of Grab’s super app ecosystem, GrabPay has quickly become one of the top mobile wallets in Southeast Asia. GrabPay allows users to make seamless transactions across Grab’s diverse services, including ride-hailing, food delivery, and eCommerce. With its QR code payment system, users can also make cashless payments at thousands of merchants throughout the region. GrabPay’s integration of payments, rewards, and services has streamlined daily expenses, making it a convenient and innovative solution for millions of users.

• GoPay (Indonesia)

As the digital wallet arm of Gojek, GoPay has risen to prominence as one of Indonesia’s payment solutions. It enables users to pay for Gojek’s services, such as ride-hailing and food delivery, while also facilitating money transfers, bill payments, and offline payments via QR codes. GoPay has expanded beyond the Gojek ecosystem, integrating with third-party apps to widen its user base. Its contribution to financial inclusion in Indonesia, particularly for the unbanked population, has made it a critical player in the country’s FinTech landscape.

• AirPay (Thailand)

Owned by Sea Group, AirPay is a versatile digital wallet that has made an influential impact in Thailand and across Southeast Asia. It allows users to make bill payments, top-up mobile balances, and pay for goods in physical stores through QR code scanning. Its deep integration with Shopee, an eCommerce platform in Southeast Asia, has enhanced the online shopping experience by providing a seamless, secure payment process. By connecting eCommerce and everyday transactions, AirPay has created an ecosystem that benefits both consumers and merchants. AirPay has been rebranded to “ShopeePay” as part of Sea Group’s integration with Shopee.

• OVO (Indonesia)

OVO is one of Indonesia’s mobile payment platforms, offering a comprehensive range of financial services. What started as a digital wallet has evolved into a broader ecosystem, including investment options through OVO Invest and insurance products via OVO Insurance. The platform’s loyalty programs and partnerships with local businesses have further boosted its popularity. OVO’s ability to diversify its offerings and cater to Indonesia’s growing middle class has made it a key driver in the country’s digital economy.

• Touch ‘n Go eWallet (Malaysia)

Touch ‘n Go eWallet is one of Malaysia’s popular digital payment solutions, offering a variety of payment options ranging from public transportation fares to in-store QR payments. The platform is integrated with Malaysia’s toll payment system, making it convenient for urban commuters. Additionally, Touch ‘n Go eWallet has expanded into online retail and e-commerce, allowing users to make payments on platforms like Lazada. With features such as cashback rewards, gaming credits, and even insurance purchases, the eWallet has grown into a versatile solution for Malaysians looking for convenience and financial management tools.