ASIA: Financial technology (Fintech) transactions in Asia could reach $18.9 trillion in 2025, increasing by 12.6% year-on-year (YoY), according to fintech group UnaFinancial. Globally, the industry is expected to grow to $40.1 trillion, with Asia making up around 47.1 per cent of the total.
Last year, fintech transactions in Asia reached $16.8 trillion, up by $2.1 trillion from the previous year.
The region accounted for 48.2 per cent of the global fintech market, which stood at$34.8 trillion.
Of this, 40.1 per cent came from the digital payments & transfers sector, contributing $834 billion. Meanwhile, 32.9 per cent, or $684 billion, came from digital banking; 21 per cent, or $435 billion, from digital commerce; and six per cent, or $124 billion, from other sectors, including digital assets and blockchain.
Between 2010 and 2024, digital investments and wealth management grew the fastest at 92.1 per cent per year on average, followed by digital banking (48.6 per cent), digital assets and blockchain (43.4 per cent), digital lending (18.5 per cent), digital payments and transfers (14.4 per cent), and digital commerce (12.9 per cent).
A key factor behind Asia’s fintech growth is the rise of super apps, with shoppers now relying more on built-in solutions like digital wallets and “buy now, pay later” services, according to UnaFinancial analysts.
Analysts also noted that several Asian governments are pursuing policies to develop unified payment platforms to reduce business costs and improve user access, especially in emerging economies with limited banking facilities. The growing need for cross-border payments between Asian countries also contributes to this growth. /TISG