Cashless payments gain momentum across Asia

Southeast Asia is rapidly embracing a cashless future, with contactless and digital payments increasingly embedded in daily life. Driven by financial inclusion initiatives, digital innovation, supportive regulation, and changing consumer behaviour, countries across the region are witnessing strong growth in card and digital payment adoption. Taiwan (Province of China) remains one of Asia's leading payment markets. The country's card payment market is projected to reach approximately $117.7bn in 2026, supported by a compound annual growth rate of approximately 12.7% between 2021 and 2025. This expansion is being driven by digital-only banks, the phase-out of magnetic stripe cards, and the continued rise of contactless payments. Beginning in July 2026, credit cards and mobile wallets will be accepted more widely, while increasing point-of-sale terminal installations will help small and medium-sized businesses embrace digital transactions through greater accessibility.

Thailand is also experiencing a steady transition towards cashless transactions. Although card penetration remains relatively low compared to more mature markets, the sector is expected to continue expanding through th

Fuente original: Yahoo Finance (https://finance.yahoo.com/economy/policy/articles/cashless-payments-gain-momentum-across-152946129.html)