ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
DealStreetAsia

Alibaba and Tencent cash in on Southeast Asia e-payments boom

Report shows Chinese groups' proxy war by funding local players is accelerating

Alibaba and Tencent operate directly in only a few countries in Southeast Asia, but they currently back at least 11 digital payment brands or e-wallets in six nations in the region.   © Reuters

SINGAPORE/HANOI -- Chinese tech groups Alibaba Group Holding and Tencent Holdings are entrenching themselves in Southeast Asia's booming digital payments market through a sprawling web of proxies, according to research by DealStreetAsia.

Data compiled by DealStreetAsia show that while the tech rivals operate directly in just a handful of countries in Southeast Asia, they back at least 11 digital payment brands or e-wallets in six key markets: Indonesia, Malaysia, Myanmar, Thailand, the Philippines and Vietnam.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more