Time: 4/2021
By: ASEAN Integration Monitoring Directorate - ASEAN Secretariat
Globalisation and digitalisation have transformed the payments landscape with the emergence of new technologies, players, products and services, and business models.
ASEAN aims for seamless cross-border payments in the region through the harmonisation and modernisation of payments infrastructure, supported by initiatives in related areas such as digital data governance, cybersecurity, online dispute resolution, and consumer protection for e-commerce.
Understanding of the implications of these changes in the payments landscape on the financial system is key. ASEAN needs to ensure that regulatory frameworks safeguard the interest of service-users while providing an enabling environment for innovation, promote interoperability, continue investing in ICT infrastructure, while ensuring the security and integrity of data systems.
Fourth ASEAN Policy Brief is attached below:
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