Digital payments in Southeast Asia are expected to grow in the double-digit range per year, exceeding $1 trillion in gross transaction value (GTV) by 2025, based on Google-Temasek's eConomy SEA 2019 report. Within this pie, e-wallets GTV has the potential to increase more than fivefold, from $22 billion to $114 billion. In India, digital payments are expected to grow 20.2% CAGR between 2019 to 2023, based on a projection by KPMG.
In this piece, we explore 10 e-wallets that are emerging in Southeast Asia and India due to their phenomenal growth and picked them for in-depth discussions due to their unique ecosystems that can support their GTV growth. We will discuss their original vertical, features, growth plans, and hurdles to their growth, before picking out the potential winners.
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