Mobile Money & Digital Payments Asia 2015 returned for its 6th year, bringing together payments professionals from across the continent to share insight, opinions and strategy.

With over 600 million actual mobile phone subscribers all over ASEAN, the majority of Indonesians, Philippinos and Vietnamese have very little access or none to formal services of financial institution. This almost likely attributed to geographical conditions, infrastructure barrier.

Mobile financial commerce like P2P transfers, payments and top-ups or online shopping, games and marketing aside from standard banking and insurance enquiries are in the early stage of adoption in most ASEAN countries.

M-banking was concentrated on larger developed urban areas such as Jakarta, Surabaya, Medan, Bandung and Denpasar. Early movers in this business of mobile banking and payment services come not only from the leaders in Banking sectors, but also operator from telecom industries and start up software service providers.

According to study in 2013 from Sharing VisionTM published by Bank Jatim, around 9% of the internet users are regular client for internet banking which concludes a total of 5.7 million users.

EIBN was invited to attend this high-profile conference and had the opportunity to network with major players in the industry. Attending EIBN officers were able to update themselves on the latest developments regarding challenges and future solutions related to the large unbanked population of Indonesia; and the opportunities that might exist for European businesses in this respect.

For more information on Mobile Money & Digital Payments Asia: http://www.mobile-money-gateway.com/