ASEAN’s push to link payment systems across borders gathered pace in 2025, with cross-border QR payments reaching 36.2 million transactions worth US$716.4 million.
The figures were disclosed in a joint statement issued after the 13th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in the Philippines.
As of December 2025, ASEAN had established 29 QR payment and person-to-person instant payment linkages within the region and with external partners.
P2P transfers reached 1.6 million transactions worth US$305.7 million in 2025, reflecting the growing relevance of these payment links for households, businesses and migrant workers across the region.
The trend mirrors wider changes in Southeast Asia’s payments mix, where QR, wallet and account-to-account options are taking a larger share of transactions across markets.
Work will continue under the Roadmap for Instant Payment Connectivity through policy exchanges aimed at managing cross-border payment risks such as fraud, aligning oversight practices and strengthening capacity building.
The joint statement also underscored the need for greater transparency and a shared understanding of legal and regulatory expectations to sustain momentum in regional payments connectivity.
ASEAN is also looking forward to the completion of a regulatory comparison dashboard to help reduce ambiguity, improve coordination and support interoperability in regional payment schemes.
Financial Health, Literacy and AI Oversight on Agenda
Beyond payments, the Philippines has made advancing ASEAN regional payments connectivity one of the Priority Economic Deliverables under its 2026 chairmanship theme, “Navigating Our Future, Together.”
The meeting also endorsed financial health as a regional priority.
Member states agreed to develop a regional measurement framework to support regular monitoring, evidence-based policymaking and innovation in financial services, particularly for vulnerable groups.
ASEAN also welcomed the completion and publication of the ASEAN Digital Financial Literacy Core Competency Framework in February 2026.
The framework was developed by the ASEAN Working Committee on Financial Inclusion in collaboration with the OECD.
Member states were encouraged to use the framework to guide digital financial literacy initiatives that support the safe and informed use of digital financial services.
The joint statement also highlighted work by the ASEAN Capital Market Forum on digital capital market products and services, AI supervisory measures and a supervisory toolkit for regulators.
It further outlined plans for a white paper on regulatory and supervisory technologies aimed at strengthening the management of cybersecurity threats and online scams.
Featured image: Edited by Fintech News Singapore, based on image by user3993991 via Freepik
