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ASEAN's digital payment market to reach $2tn in 2030: study

Google-led report shows online economy expanding, but with slower growth

The rise in digital payments mirrors the growth of internet users in the region, who are expected to total 460 million this year. (Photo by Akira Kodaka)

SINGAPORE -- Southeast Asia's booming digital payment market is expected to hit $2 trillion by transaction value in 2030, ballooning threefold over a decade earlier, as more fintech and digital banks emerge from the best-funded segment in the region, according to a new Google-led study. 

The annual report, which was released Thursday by Google, Singapore state investor Temasek Holdings and U.S. consultancy Bain & Co., forecast digital economy trends in six regional markets: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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