EBANX: E-commerce boosts consumer spending in Southeast Asia and India, outpacing other emerging markets | The Manila Times

With a 122% increase over the next decade, consumer spending in this Asian region is expected to grow more than in Latin America and Africa, according to EBANX's Beyond Borders 2025 study. E-commerce to accelerate at 14% per year by 2027

CURITIBA, Brazil, Feb. 4, 2025 /PRNewswire/ -- Consumer spending in Southeast Asia and India is projected to increase by 122% over the next decade, outpacing other major emerging regions such as Latin America and Africa, which are expected to see growths of 57% and 103%, respectively. This surge, based on projections by the World Data Lab (WDL), is featured in the new edition of Beyond Borders, EBANX's annual comprehensive study on the digital market and payment trends in emerging economies. The study can be accessed in full and for free at http://bit.ly/EBANXBeyondBorders2025.

Driven by their youthful, tech-savvy populations and expanding digital ecosystems, Southeast Asia and India are experiencing an increase in e-commerce transactions, which is one of the main factors fueling the largest consumer spending growth among rising markets. According to Statista data in Beyond Borders, online sales are projected to grow by 14% annually across emerging Asian countries over the next two years, with India leading the charge.

João Del Valle, CEO and Co-founder of EBANX

"The digital transformation and burgeoning middle-class consumer base in rising markets position them as pivotal players in the global e-commerce landscape," said João Del Valle, CEO and Co-founder of EBANX, a global payment service provider (PSP) specializing in payments in emerging markets. With exponential growth in e-commerce and booming consumer spending, Southeast Asia and India, along with Latin America and Africa, have been playing pioneering roles in the payments industry.

"There is ample potential for merchants, financial institutions, and other players to benefit from all the payment innovations emerging from rising economies," stated Del Valle.

Payment innovations

Consumer demand for real-time, seamless, and cost-effective transactions has made UPI, mobile money, and Pix the leading alternative payment methods for online purchases in India, Kenya, and Brazil, respectively. UPI leads the overall online sales in India, with 55% of the country's market, followed by mobile money, which accounts for 48% of Kenya's total e-commerce, and Pix, with 40% of Brazil's online purchases, according to data from Payments and Commerce Market Intelligence (PCMI) in Beyond Borders.

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