There are 70 million micro-, small-, and medium-sized enterprises (MSMEs) in the Association of Southeast Asian Nations (ASEAN), and they are increasingly adopting digital payments and digital financial services (DFS). It is imperative to build and retain trust in these services for sustained usage.

ASEAN Member States (AMS) have been at the forefront of developing digital payment  infrastructure, particularly low-cost options, driving rapid digitalization and financial inclusion. Across ASEAN, 80 percent of financially included adults made or received  digital payments in 2021, compared to 69 percent in 2017. Eight out of ten AMS have  developed and adopted low-cost national Quick Response (QR) payment channels in  recent years, including Indonesia’s QRIS, Cambodia’s KHQR, and Thailand’s PromptPay,  with merchant-specific features. The rapid roll-out of QR payment channels, adoption by consumers, and several other policy measures across the 10 AMS has meant that micro-merchants, a critical player in the digital payments and financial services  ecosystem, are increasingly adopting digital payments.