Report Compilation | How Digital Economy Trends Shape the Future of Payments in Singapore by Singapore Institute of International Affairs (SIIA)
Editor’s Note: In July 2024, the Singapore Institute of International Affairs (SIIA) released How Digital Economy Trends Shape the Future of Payments in Singapore (hereinafter referred to as the "Report"). The Report highlights that over the past decade, the rapid growth of Southeast Asia's digital economy has fundamentally transformed business models, operational practices, and consumer behavior, driving profound changes in the payments industry.
Providing a panoramic perspective, the Report analyzes five core themes of Singapore's digital economy and explores their implications for the future of payments:
1.Inclusive Digital Society and Economy
2.Secure Digital Ecosystem
3.Digital Sustainability
4.Regional Innovation and Technology Hub
5.Cross-Border Connectivity and Growth
It further outlines actionable recommendations for key stakeholders in the payments ecosystem to seize opportunities amid evolving dynamics, aligning with Singapore’s Smart Nation vision.
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