The race is on for a"super app" for Southeast Asia as mobile-based e-commerce makes inroads in the region, experts say.
"Everyone is looking to payments as the first step to go into the rest of financial services," Mittal said, adding that"making money in payments alone is not a viable business." The region's internet economy was predicted to be about $72 billion by the end of last year, up 37 percent from a year earlier, as measured by gross merchandise value —which is a key industry metric measuring total dollar value of merchandise sold online, the study said.
Last week, the latter's Grab Financial unit said it was rolling out several financial services across the region. They included an online checkout system that would let sellers accept Grab's digital payment service, GrabPay.
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