As the COVID-19 pandemic swept across the globe, history seemingly repeated itself as familiar public health strategies were gradually implemented from one jurisdiction to the next. From recommendations of social distancing to lockdowns, such measures have disrupted even the most benign day-to-day activities, prompting small but meaningful changes in how we work, live, pay and play.
From QR code payments to mobile wallets, the appeal of cashless payment methods has increasingly been institutionalized even in Southeast Asian markets where cash has historically reigned as king. The move is promising, considering that over 70% of adults still lack access to basic financial services in the region. With the goal of attaining greater financial inclusion, these infrastructures have the potential to bring about long-standing changes. When coupled with emerging technologies such as blockchain, a new breed of legacy financial infrastructures can be transformed to better serve those in need.