Digital payments have expanded rapidly across Southeast Asia over the past decade, fueling the growth of the region’s mobile-based ecommerce. 

 

Real-time account-to-account transfers have been one important driver of the region’s digital payments revolution. As of 2025, all Southeast Asian economies have implemented domestic RTP systems, while also supporting government regional payments connectivity initiatives such as Project Nexus.

This white paper authored by Nextrade Group and published with the Visa Economic Empowerment Institute and GFTN leverages new Visa survey data to (1) identify key trends in RTP adoption among Southeast Asian consumers and SMBs; (2) uncover pending challenges to RTP use, such as consumers’ concerns about fraud and reliability; and (3) propose solutions for Southeast Asian governments to promote RTPs’ security, resilience, and sustainability through collaboration.

 

The main findings from the survey are as follows:

 

• RTPs are increasingly popular in daily transactions in Southeast Asia. Nearly half of surveyed consumers across Southeast Asia use RTPs for everyday purchases like groceries and bills, both in-store and online. Uptake is highest among Gen Z and younger millennials. Adoption among SMBs is especially strong, with over 90% accepting RTPs in-store and 86% online, highlighting RTPs’ growing role in the digital payment ecosystem.

 

• While RTPs offer speed and convenience, many users would like to see more emphasis on security. 42% of consumers and over a third of SMBs express concerns about fraud, scams, or misdirected payments in RTP transactions. These concerns reflect a growing awareness of digital risks and highlight the importance of strengthening trust and safeguards as RTP adoption continues to rise.

 

• Although there is strong familiarity with using RTPs for domestic transactions, usage of RTPs for cross-border payments is less common. Fewer than 15% of consumers currently choose RTPs for cross-border transactions, primarily due to concerns around fraud and reliability. Partnerships with private sector participants like global networks can increase consumer and SMB trust in secure, reliable cross-border RTP transactions.  

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• Digital payments could be a path towards formal financing for SMBs. More than 66% of SMBs in Indonesia, Thailand, and Vietnam indicated they are “very interested” in using RTP data to support credit scoring and improve access to finance.

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Strengthening RTP systems to better serve Southeast Asian consumers and SMBs can be accomplished through deeper collaboration between RTP systems and other actors in the financial services ecosystem, including global payment networks, technology providers, and payment service providers.  

 

Key opportunities for partnerships include:

 

• Enhancing fraud prevention through the adoption of AI real-time risk scoring solutions to enhance fraud and scam detection.

 

• Building trusted cross-border experiences with consistent protection and dispute mechanisms for consumers to enjoy the same payment experience overseas as at home, and access to remediation when they encounter payment issues.

 

• Expanding access to finance by leveraging diverse sources of payment data for alternative credit scoring and rewards. These sources, which may include data from global payment networks, offer rich insights and contain merchant-level details and supplier relationships, which can significantly enhance the precision of financial profiling. These granular attributes make such data sources especially powerful in driving inclusive financial innovation.

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Global networks excel at balancing modernisation and security at the ecosystem level and can play a complementary role to national RTPs. By partnering with global networks, policymakers seeking to advance policy goals through payment system development can enhance access to secure, fast, and user-friendly digital payments without compromising on security, cross-border connectivity, or inclusion. Their expertise in technology and, importantly, governance helps strengthen end-user security, while enabling local firms to expand their reach, thereby increasing utility for consumers and SMBs alike.

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Collaborative solutions are already being pursued in these areas in Southeast Asia and around the world. The forthcoming ASEAN Digital Economy Framework Agreement (DEFA) offers a further, timely platform to advance interoperability, trust, and inclusive growth.

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RTPs are a pathway to formal financial systems for millions. With the right partnerships and policy support, Southeast Asia can expand the opportunities of mobile commerce, digital trade, and financial inclusion.