The future of mobile wallets in Southeast Asia

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS Mobile-payment wallets are increasingly powerful—and popular—tools for consumers, particularly in regions like Southeast Asia. This convenient technology has broadened financial access there, with swift uptake during the pandemic. Beyond simply storing money, these wallets can be used to trade cryptocurrency, enable new payments methods, and more. A new article offers perspective from three leaders at the forefront of the field. “In Southeast Asia, more than six in ten people are unbanked, and only about 17 percent of transactions are cashless,” says Chris Yeo of Grab Financial Group. “So there are massive opportunities: we have to meet those needs, solve these problems.” Explore the potential and what the future could hold for digital wallets in the region. — Joyce Yoo, digital editor, New York Mobile wallets: Southeast Asia’s new digital life hack Mobile-payment wallets have taken the Southeast Asian payments sector by storm, but where next for this groundbreaking technology? Three leaders in the field share their insights. Learn from a leader Quote of the Day “The bottom line is that growth and sustainability and inclusivity, there need not be trade-offs between them. They need not be antagonistic to each other.” —Ngozi Okonjo-Iweala, director-general of the World Trade Organization, in a recent episode of the McKinsey Global Institute’s Forward Thinking podcast Chart of the Day See today’s chart Also New Author Talks: Make anxiety your ally How can we reclaim our relationship with anxiety, so it works for, and not against, us? Develop a healthy mindset How economic-development organizations can seize funding opportunities By harnessing funds from the American Rescue Plan Act, economic-development organizations have an opportunity to effect significant change in their communities—if they can organize themselves first. Accelerate growth The tech transformation imperative in retail Organizations face an urgent need to overhaul their tech architecture and operating model to keep pace with the changing landscape. Five concrete actions can accelerate the transformation journey. Boost performance Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007