Fintech Future: Building Resilient Payments — The Driving Force Behind APAC’s Payments Innovation

The Asia-Pacific (APAC) region is rapidly establishing itself as a global leader in digital payments, not only through technological advancement but, crucially, through a culture of deep collaboration.  

As the payments landscape becomes more complex and interconnected, APAC’s distinctive approach-uniting regulators, fintechs, banks, and industry bodies-has proven instrumental in fostering resilience, innovation, and financial inclusion.

A Region Built on Partnership

Collaboration is woven into the fabric of APAC’s payments ecosystem. As Camilla Bullock, CEO and Co-Founder of Emerging Payments Association Asia (EPAA), explains, “Going from conference to conference across the globe, I think we’re in a very good region for collaboration. And I think it’s so important in collaboration and partnership to be able to serve the last mile.”

This ethos is reflected in the way the region brings together stakeholders from across the payments spectrum. EPAA itself acts as a conduit, “bringing the industry together around challenges and opportunities and really making sense of what’s going on-speaking to regulators with a unified voice.”

This unified approach allows APAC to address the needs of everyone from central banks and global merchants to micro, small, and medium enterprises (MSMEs), ensuring that innovation is both inclusive and relevant.

Public-Private Partnerships: A Global Benchmark

One of APAC’s defining strengths is its ability to foster public-private partnerships. As Camilla notes, “Our region is actually a leader on public-private partnership. The BIS Nexus project, that is one of the most exciting, innovative ways of collaborating between government regulators and the private sector.” This project exemplifies how APAC is tackling the challenges of interoperability and cross-border payments through collective action, setting a global benchmark for others to follow.

EPAA’s own initiatives, such as the Open Banking Asia project, further demonstrate the region’s commitment to harmonisation and shared progress. By working closely with the ASEAN Financial Innovation Network (AFIN) and promoting platforms like APIX, APAC is driving the adoption of open banking, enabling financial institutions and fintechs to collaborate on innovative solutions in a secure, cost-effective environment.

Innovation Born from Fragmentation

APAC’s diversity-spanning advanced economies and emerging markets-has long presented challenges of fragmentation, differing regulations, and inconsistent standards. Yet, as Camilla highlights, this very complexity has become a catalyst for creativity: “We’ve had such a fragmented region, we have to come up with really innovative solutions to be able to bring products to the market. And through that, we’ve had to be innovative in how we collaborate and how we do partnerships.”

This spirit of innovation is evident in the region’s approach to cross-border payments, where collaboration between payment networks, fintechs, and regulators is delivering faster, more transparent, and more inclusive solutions than ever before. The result is a payments ecosystem that is not only technologically advanced but also agile and responsive to local needs.

Financial Inclusion: Growing the Pie Together

At the heart of APAC’s collaborative approach is a shared commitment to financial inclusion. “Our big vision is to improve lives everywhere through payments,” Camilla states. “I always say when we bring all our members together, many of them, we sit in a room about how to grow the pie. We don’t have to eat each other’s slice, just make sure that that pie is growing-and that is true financial inclusion. That is to enable MSMEs to do cross-border trade.”

Initiatives like the Comfort Project, launched with the Moyerluke Foundation, are testament to this vision-exploring how payments can be made as fast and smooth as possible while delivering real inclusion and opportunity for all.

Conclusion

Trust remains the cornerstone of the digital payments landscape, and APAC’s collaborative model is a key enabler. APAC’s payments landscape is thriving not only because of its technological prowess but because of its unique culture of collaboration.  

By uniting the public and private sectors, embracing diversity, and keeping trust and inclusion at the forefront, the region is setting a powerful example for the world. As Camilla Bullock’s insights reveal, the future of payments in APAC will be shaped by those who work together to grow the pie-ensuring that innovation benefits businesses, consumers, and communities alike.