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Sales staff accept payment by credit card at a department store in Bangkok, Thailand.   © Reuters
FT Confidential Research

Mobile payments sideswipe credit cards in Southeast Asia

Platforms such as GrabPay and Go-Pay gain enthusiastic users, FTCR survey finds

| Vietnam

FT Confidential Research found more Asean consumers owned credit cards in 2017 than in the previous year. Our Asean Credit Card Ownership Index increased on the back of accelerated economic growth (see chart).

Despite the rise, ownership has yet to return to its level in 2013, when we first ran the survey. We think the wider use of mobile payment platforms is challenging the role credit cards play in the region.

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