Asia leads in fintech evolution, finds new survey

Asia is a leader in the adoption of digital payments and the strongest interest in emerging payment experiences, says the survey:

Asia is firmly a global leader in the evolution of fintech globally, finds a survey, the 451 Research and Discover Global Network 2022 Consumer and Fintech Vendor Global Survey. The findings reveal that consumers in Asia have the highest levels of digital payment adoption and strongest interest in emerging payment experiences, while fintechs headquartered in the region show the strongest appetite for partnerships.

This is mainly on account of the fact that this market is accustomed to digitally driven experiences and is eager to implement new payment technologies, according to the survey, which also reveals that consumers in Europe stand out for their emphasis on contactless payments and purchase experiences, while those in North Americ have a strong focus on security. However, the North America region generally trail their counterparts in Asia and Europe when it comes to digital payment adoption and interest in emerging payment experiences.

The survey also highlights that while regulations, culture, investments and other factors influence fintech sentiments and adoption in each market, it is clear that fintech is transforming commerce and financial services across all markets globally. "We expect this trend to continue as an increase in partnerships creates new sources of value, digitally transforming how transactions are conducted across businesses and borders," says the authors of the survey report.

Here are some of the key findings from Asia, Europe and North America.

ASIA - DIGITAL PAYMENTS SUPERPOWER