EGUIDE
Cross-border payments: How to expand to Southeast Asia
Get inside the minds of online shoppers in Southeast Asia. Find out how shoppers in Singapore, Malaysia, and Indonesia are buying cross-border, so you can give them exactly what they want.
Get practical steps on how to set up payments, cut foreign exchange (FX) costs, stay compliant, and keep cash flow healthy so your eComemerce business can expand to SEA with confidence.
What online shoppers in SEA want
of shoppers in SEA are comfortable buying a product from another country
The eCommerce industry in Southeast Asia is expected to grow by 8.8% per year, reaching a projected market volume of US$187.20 billion by 2029. When selling to SEA, it counts to localise the checkout experience. 95% say that pricing in local currency is one of the most important aspects of the checkout experience.
of shoppers in Indonesia and 88% in Malaysia say BNPL is essential
Shoppers in SEA want more. 95% in Indonesia and 88% in Malaysia say buy now, pay later (BNPL) is essential for international purchases. Influencers also play a strong role: 90% in Indonesia and 75% of shoppers in Malaysia say it impacts their purchases. In Singapore, 62% of Gen Z and Millennials rely on influencer recommendations.
of shoppers in Indonesia and 80% in Malaysia prefer digital payment methods
Digital payment methods are the number one preference for the majority of shoppers in SEA. 83% of shoppers in Indonesia and 80% in Malaysia use them for international purchases. In Singapore, credit cards dominate (71%), but Gen Z and Millennials favour digital payments (63%) and debit cards (63%) over credit cards (48%).
ABOUT THIS REPORT
Ready to expand your eCommerce business to Southeast Asia?
Find out why online payments are the lynchpin of your expansion strategy, and how you can start making and receiving payments in SEA like a local.
Download the eGuide to learn:
• How to accept payments in local currencies across SEA
• How to settle payments in your preferred currency and reduce FX costs
• How to stay compliant with local payment regulations
• How to build a checkout experience that converts
