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The Business Station
COV-19's Global Spread Leads to Stocks Bloodbath
6 mins·07:00, 28 Feb 2020
COV-19's Global Spread Leads to Stocks Bloodbath
6 mins
·
07:00, 28 Feb 2020
·
Recommended
42 mins
17 mins
Tony Nash of Complete Intelligence discusses the collapse in global stocks as COV-19 inches ever closer to becoming a global pandemic.
Presenter: Lyn Mak, Wong Shou Ning, Khoo Hsu Chuang
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ASEAN’s digital payments sector is experiencing rapid growth, fueled by increasing smartphone use, fintech innovation, and a booming e-commerce landscape. Key markets like Indonesia, Vietnam, and the Philippines are leading the way, with major opportunities in digitizing MSMEs and expanding rural financial access. Consumers are shifting toward mobile-first behavior, embracing e-wallets, mobile banking, and digital banks that offer greater convenience and accessibility. ASEAN central banks are strengthening cooperation to enhance payment linkages through QR code integration and shared standards. A major initiative, Project Nexus, aims to make cross-border payments faster, cheaper, and more seamless, though challenges remain in aligning regulations and infrastructure. As digital transactions surge, cybersecurity becomes critical, with the need to protect users without disrupting the payment experience. Importantly, digital finance is helping bank the unbanked, especially in rural areas, where mobile money and fintech tools are providing people with their first access to formal financial services.How can ASEAN ensure inclusive growth as digital payments continue to expand?
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