Southeast Asia E-Commerce Soars on Digital Payments Surge
The latest InfoBrief by market intelligence firm IDC, commissioned by global payments platform 2C2P and Antom, revealed Southeast Asia’s (SEA’s) ecommerce market is projected to reach US$325 billion by 2028, fuelled by the rapid adoption of digital payments and regional interoperability, unlocking more opportunities in cross-border commerce for businesses.
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This year’s research paper, “How Southeast Asia Buys and Pays 2025”, marks the fourth edition of the IDC InfoBrief since 2021. IDC surveyed 600 respondents across six Southeast Asia (SEA) markets – Indonesia, Philippines, Malaysia, Singapore, Thailand and Vietnam, examining the evolving digital payments landscape as a whole and in each market.1 As the fifth largest economy in the world, SEA’s exceptional growth trajectory is largely driven by its rapidly expanding e-commerce sector, underpinned by increasing digital payment adoption.
The research explores the region’s evolving digital payments landscape and provides a market-specific analysis of the payment trends in each market. It also sheds light on how these trends are reshaping business strategies and laying the foundation for future growth opportunities in the region.
Key highlights from the IDC InfoBrief:
It is critical to have a comprehensive understanding of SEA’s digital payment landscape to fully tap into this US$325b economy. To maximise reach within local markets, it is essential to offer customers their preferred payment methods to enhance the overall customer experience and drive higher conversion rates.
There are also significant opportunities across SEA in intra-SEA cross border commerce.
Agnes Chua, Managing Director of Business and Product Development of 2C2P, stated, “Southeast Asia’s e-commerce landscape is evolving at a breathtaking pace. Merchants recognise the immense opportunities this growth brings them in driving e-commerce revenue, but also acknowledge the increasing complexity it brings to their operations. This includes common challenges such as customer support and issue resolution, payment gateway integration and technology issues. At 2C2P, we empower businesses to navigate these challenges with confidence by delivering payment solutions that simplify operations, enhance cross-border capabilities, and drive growth in the region’s rapidly expanding digital economy so merchants can quickly unlock new opportunities and thrive in this dynamic environment.”
Gary Liu, General Manager of Antom, Ant International, said, “Southeast Asia is rapidly emerging as a global hub for digital commerce and innovation. As businesses expand across borders, seamless and efficient transactions are essential for maintaining competitiveness. At Antom, we see payments not just as infrastructure but as a catalyst for business growth. By working with 2C2P and other businesses within Ant International’s ecosystem, we empower merchants with unified payment and digitisation solutions covering the full payment lifecycle while also exploring opportunities in global account services, financing, and treasury management to further support their expansion. Through close collaboration with local regulators and industry partners, we aim to unlock new opportunities for businesses of all sizes, helping them thrive in Southeast Asia’s evolving digital economy.”
About 2C2P
2C2P is a full-suite payments platform that empowers the world’s leading enterprises to securely accept and make payments through one point of integration. Its extensive network spans across online, mobile and offline channels including over 600,000 alternative payment locations, enabling enterprises to reach their customers or recipients anywhere. 2C2P also provides value-added services such as issuing, 3D Secure, bill payments and digital goods to meet every business need.