October 15, 2020
Presentation Slides:
Summary:
Digital payments in ASEAN are expected to triple to US$1.5 trillion (S$2 trillion) by 2030, but the fragmented market means that ride-hailing, e-commerce, and telecom-driven apps are the best-positioned e-wallet players, according to an HSBC Global Research Asean Next report.
Payments Flow
Acquiring Banks
Acquiring banks give merchants access to systems necessary to accept payments. Example – DBS
Processors
Responsible for securely transmitting data, in addition to providing various degrees of back-office support. Example - Fiserv
Issuing Banks
An issuing bank has its logo present on a customer's debit or credit card, and either holds the deposits or extends the credit associated with the account. Example – Citi Bank
Card Networks
Card networks act as hubs that routes transactions between issuers and acquirers and establish rules that others involved in payment card processing must obey. Example - Visa
Payment Gateways
For retailers with digital storefronts, payment gateways act in a similar capacity as online payment terminals and front-end processors. Example - PayPal
Case Study Source:
- https://assets.ctfassets.net/7rifqg28wcbd/t9d2Pt7Suaam1AP5G01bV/36409cca1b857bf5c9b1658407b93f7e/Kiva_Case_Study___Braintree_US.pdf
- https://www.paypalobjects.com/digitalassets/c/website/marketing/emea/gb/en/case-study/Case_Study_Internet_Fusion.pdf