Asia runs on mobile money. India’s UPI is the world’s largest real-time payments network, and PhonePe alone handles close to half of it. In Southeast Asia, cash on delivery, which made up more than half of ecommerce payments in 2019, is giving way to QR codes, wallets and buy-now-pay-later. Wallets such as GCash, MoMo, OVO and DANA have become the default way tens of millions of people pay, and the biggest of them are turning into banks.
This hub brings together Digital in Asia’s coverage of fintech and digital payments across the region: the payments tracker, wallet-by-wallet explainers, India’s UPI economy, and how banks and super apps are moving into finance.
Trackers & overview
- Asia Digital Payments Tracker 2026: Leading Wallets and Payment Systems Across 15 Markets
A working tracker of who owns mobile payments across fifteen Asian markets. Alipay and WeChat Pay in China, UPI in India, GCash in the Philippines, and a region-specific stack everywhere … - How Do Fintech Ecosystems Scale in Asia in 2026? From Wallets to Digital Banks
Fintech ecosystems Asia: how wallets, neobanks and BNPL stack into super apps. Inside the playbook from M-Pesa to MoMo. - How Do Digital Wallets Compete in Asia in 2026? The Regional Payment Playbook
Digital wallets Asia: how OVO, MoMo, GCash, GoPay and Paytm compete in a region where 70% of payments are still cash. - Digital Payments in Southeast Asia: QR Systems, Wallets and Cross-Border Infrastructure
Digital payments SEA: from QRIS to PromptPay to cross-border QR corridors. Inside the regional payments rail buildout.
Southeast Asia
- What is the State of Digital Payments in Southeast Asia in 2026? BNPL, QR Codes, and the End of COD
Digital wallets, account-to-account payments and buy-now-pay-later services are changing how Southeast Asian consumers pay online. However, payment preferences differ substantially by market, and cash on delivery remains part of the … - Cash on Delivery in Southeast Asia 2026: The Decline
Cash on delivery fell from 52% of SEA ecommerce payments in 2019 to 31% in 2024 — and below 10% by 2028. Why COD persists, and why it's finally dying. - GCash: How 94M Filipinos Ended Up on One Wallet
GCash: 94M Filipinos use the Philippines' digital wallet leader, holding 89% of mobile wallet market share. Inside its super app build. - GCash vs Maya: The Philippines’ Digital Wallet and Banking Competition
GCash PayMaya Maya control 95%+ of Philippines mobile wallets. Inside the consolidating $4B+ market by 2025. - MoMo: How Vietnam’s 40M-User Wallet Won the Market
MoMo wallet: Vietnam's 40M-user e-wallet hit profitability with 69% user penetration. Inside the standalone super app strategy. - ZaloPay: How VNG’s Wallet Challenges MoMo in Vietnam
ZaloPay VNG: chat-native wallet leveraging Zalo's 75M users to challenge MoMo. Inside Vietnam's second-largest digital wallet. - MoMo vs ZaloPay: A 2026 Comparison of Vietnam’s Digital Wallet Leaders
MoMo ZaloPay split Vietnam's e-wallet market. 40M vs 75M users. Inside Vietnam's wallet war. - OVO: Indonesia’s $7.32B E-Wallet With 110M Users
OVO e-wallet: Indonesia's 110M-user wallet inside Grab Holdings navigates a $7.32B market. Inside the post-Tokopedia repositioning. - DANA in Indonesia: Its Business Model and Competition with GoPay and OVO
DANA Ant Group's Indonesia wallet competes with OVO and GoPay in a $7B+ market. Inside Ant Financial's SEA fintech extension.
India & UPI
- What is the State of India’s Digital Payments in 2026? Inside the UPI Revolution
India digital payments reshaped a nation: UPI, Aadhaar, and open finance built in a decade what took the West generations. Key findings from our 2026 report. - What is the State of UPI in 2026? How India Won Digital Payments and Now Faces a Revenue Gap
UPI processed $3.4 trillion in 2025 but faces a growing revenue problem. How India's digital payments revolution created scale without sustainable economics. - PhonePe: How Walmart’s Fintech Captured 48% of UPI
PhonePe UPI: Walmart's Indian fintech holds ~45-48% of UPI by value and volume, eyeing a $10B+ IPO. Inside its dominance. - Paytm: India’s $20B Comeback After the RBI Crisis
Paytm RBI crisis: India's payments pioneer rebuilt after losing its bank, posting third consecutive profitable quarter at Rs 2,194 crore. - Paytm vs PhonePe: A 2026 Comparison of India’s Digital Payments Duopoly
Paytm PhonePe: India's digital payments duopoly. PhonePe at 48% UPI share, Paytm at 7.65%. Inside the duopoly economics. - Razorpay: Inside India’s Digital Payments and Business Banking Platform
Razorpay B2B payments: India's payments infrastructure platform processes $180B in annualised TPV across 12M+ merchants. Inside the stack.
Korea
- What is Toss? How a Simple App Built Korea’s 30 Million-User Fintech Platform
Toss fintech: Viva Republica turned a P2P payments app into Korea's 30M-user financial super app, eyeing a $10-15B IPO.
Banks, AI & super-app finance
- What is the State of AI in Asian Banking in 2026? Inside DBS, Ping An, and SeaMoney’s Transformation
DBS Bank has deployed 800+ AI models, Ping An processes 3 billion financial transactions daily with AI, and SeaMoney is bringing AI-powered credit scoring to the unbanked. Inside Asia's AI banking revolution. - Inside Sea Group: Ecommerce, Gaming, Payments and AI
Sea Group closed 2025 with $22.94B revenue, $9.2B Monee loan book, and a Google AI partnership. Inside Shopee, Garena, Monee. - VNG Corporation: Inside Vietnam’s Gaming, Messaging and Fintech Ecosystem
VNG holds an estimated 55% of Vietnam's gaming market — up from 24.5% in 2020. The real story of Vietnam's domestic champion, fact-checked. - Grab’s Business Model: How SEA’s Super App Makes Money
Grab business model: how SEA's super app turned mobility, deliveries, and financial services into $873M Q3 2025 revenue. Inside the unit economics.