Southeast Asia's overcrowded mobile payments market faces shakeout

Southeast Asia's overcrowded mobile payments market faces shakeout

Photo by Jonas Leupe on Unsplash

Just next to Ho Chi Minh City’s financial district, two dozen street vendors’ stalls display colourful adverts for e-wallets backed by private equity firm Warburg Pincus, ride-hailing firm Grab and Singapore sovereign wealth fund GIC, among others.