The digital economy has sparked massive changes in the payments industry over the last decade, with more sweeping transformations on the horizon. The continued explosion of ecommerce, and the wider and deeper expansion of the sharing economy, are all pushing change in payments — a key touchpoint across industries. In the sharing economy, for example, payments have become the critical entry point to expanding services.
This IDC InfoDoc takes a closer look at Singapore’s payment transformation, drawing on the results of a study in three geographies (Australia, Hong Kong and Singapore) commissioned by Adyen. Focused on several fast-growing B2C sectors — retail, ecommerce, quick service restaurants, travel/hospitality, sharing economy services, and digital media.