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This working paper finds that the introduction of payroll accounts among largely unbanked factory workers in Bangladesh led to increased account use and consumer learning.
Despite the near-term disruption to revenue growth related to the COVID-19 pandemic, Asia’s payments sector remains positioned for long-term success and is poised for a swift return to healthy growth.
The COVID-19 crisis is having a significant and widespread effect on global payments across sectors. The most striking and potentially lasting impact is an accelerating pace of change in the industry.
The Bain & Company report shows that two Alliance members, Indonesia and Vietnam, are growing the fastest and the adoption of digital payments in the region is expected to cross $1 trillion by 2025.