Southeast Asia’s E-Commerce to Reach New Heights, Driven by Digital Payments and Cross-Border Commerce Growth

SINGAPORE--(BUSINESS WIRE)--Mar 11, 2025--

The latest InfoBrief by market intelligence firm IDC, commissioned by global payments platform 2C2P and Antom, revealed Southeast Asia’s (SEA’s) ecommerce market is projected to reach US$325 billion by 2028, fuelled by the rapid adoption of digital payments and regional interoperability, unlocking more opportunities in cross-border commerce for businesses.

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This year’s research paper, “How Southeast Asia Buys and Pays 2025”, marks the fourth edition of the IDC InfoBrief since 2021. IDC surveyed 600 respondents across six Southeast Asia (SEA) markets – Indonesia, Philippines, Malaysia, Singapore, Thailand and Vietnam, examining the evolving digital payments landscape as a whole and in each market. 1 As the fifth largest economy in the world, SEA’s exceptional growth trajectory is largely driven by its rapidly expanding e-commerce sector, underpinned by increasing digital payment adoption.

The research explores the region’s evolving digital payments landscape and provides a market-specific analysis of the payment trends in each market. It also sheds light on how these trends are reshaping business strategies and laying the foundation for future growth opportunities in the region.

Key highlights from the IDC InfoBrief:

It is critical to have a comprehensive understanding of SEA’s digital payment landscape to fully tap into this US$325b economy. To maximise reach within local markets, it is essential to offer customers their preferred payment methods to enhance the overall customer experience and drive higher conversion rates.

There are also significant opportunities across SEA in intra-SEA cross border commerce.

Agnes Chua, Managing Director of Business and Product Development of 2C2P, stated, “Southeast Asia’s e-commerce landscape is evolving at a breathtaking pace. Merchants recognise the immense opportunities this growth brings them in driving e-commerce revenue, but also acknowledge the increasing complexity it brings to their operations. This includes common challenges such as customer support and issue resolution, payment gateway integration and technology issues. At 2C2P, we empower businesses to navigate these challenges with confidence by delivering payment solutions that simplify operations, enhance cross-border capabilities, and drive growth in the region’s rapidly expanding digital economy so merchants can quickly unlock new opportunities and thrive in this dynamic environment."

Gary Liu, General Manager of Antom, Ant International, said, “Southeast Asia is rapidly emerging as a global hub for digital commerce and innovation. As businesses expand across borders, seamless and efficient transactions are essential for maintaining competitiveness. At Antom, we see payments not just as infrastructure but as a catalyst for business growth. By working with 2C2P and other businesses within Ant International's ecosystem, we empower merchants with unified payment and digitisation solutions covering the full payment lifecycle while also exploring opportunities in global account services, financing, and treasury management to further support their expansion. Through close collaboration with local regulators and industry partners, we aim to unlock new opportunities for businesses of all sizes, helping them thrive in Southeast Asia's evolving digital economy."

About 2C2P

2C2P is a full-suite payments platform that empowers the world's leading enterprises to securely accept and make payments through one point of integration. Its extensive network spans across online, mobile and offline channels including over 600,000 alternative payment locations, enabling enterprises to reach their customers or recipients anywhere. 2C2P also provides value-added services such as issuing, 3D Secure, bill payments and digital goods to meet every business need.

Headquartered in Singapore with operations across Southeast Asia and Hong Kong, 2C2P is the preferred payments partner for airlines, online marketplaces, retailers and other enterprises. To learn more, please visit https://2c2p.com/.

About Antom

Ant International's Antom is the leading payment and digitisation services provider for merchants around the world. It offers unified, vertical-specific digital payment solutions to serve businesses of all sizes. Antom supports merchants in over 50 countries and regions, enabling them to connect with consumers in more than 200 markets, with the flexibility to accept payments in more than 100 currencies. Beyond payments, it provides digital marketing solutions and merchant digitisation services to help merchant streamline operations and enhance customer engagement. To learn more, please visit https://www.antom.com/.

1 IDC InfoBrief, commissioned by 2C2P, How Southeast Asia Buys and Pays 2025, Doc #AP242491IB, February 2025

Uncover trends and opportunities in Southeast Asia's digital economy (Graphic: Business Wire)

ISLAMABAD (AP) — Pakistanis faced record fuel price increases Friday, as petrol and diesel prices rose by up to 54% driven by the war in the Middle East that has caused global oil prices to surge.

The increase adds pressure to a cash-strapped nation already grappling with high inflation, as economists warned the hike would push up food prices and living costs.

Pakistan's Petroleum Minister Pervez Malik said late Thursday that the increase was “unavoidable.” He said the government was compelled to raise petrol prices by 137 rupees (49 cents) per liter, following a 20% increase last month.

Diesel prices were increased overnight by 184.49 rupees (67 cents) per liter, a rise of about 54.9%.

Malik said the adjustments were “necessary and unavoidable” in line with global market trends, adding that the government plans to subsidize fuel for motorcyclists, though a mechanism has yet to be finalized. Motorcycles overwhelmingly outnumber cars in Pakistan, accounting for nearly 78% of all vehicles on the road, as they are among the most affordable modes of commuting.

On Friday, Interior Minister Mohsin Naqvi said public transport in Islamabad will be free for 30 days from Saturday on the prime minister’s instructions, and his ministry will cover the fuel costs.

Pakistan in recent weeks has used alternate routes to get oil due to the closure of the Strait of Hormuz.

The unprecedented price increase came after Prime Minister Shehbaz Sharif said regional instability had affected Pakistan’s fragile economy. He said the government was pursuing diplomatic efforts to ease tensions and encourage dialogue between the parties involved.

Pakistan has offered to host peace talks, though no dates have been announced for any such meetings in Islamabad.

However, for many citizens, the impact of the ongoing tensions and recent fuel price increases was immediate, with households and commuters bracing for higher transportation and daily living costs.

“It’s not just gas,” said Mohammad Zain Alvi, a commuter waiting for a bus in Islamabad. “Life was already very difficult for us, and now everything will become more expensive.”

Across major cities Friday, fuel stations were unusually quiet and traffic noticeably lighter as many people stayed home, unable or unwilling to bear the higher costs. At some stations, customers stood in silence after hearing the new rates.

“We have nothing to do with the war,” said Azhar Ali, a junior government employee who uses an old motorcycle to commute from Rawalpindi to Islamabad. “Why are we being made to pay for it? This will affect everything — transport, food, our entire lives.”

In the northwestern city of Peshawar, motorcycle rider Sher Khan said he was uncertain how he would continue working after the spike in fuel prices. He delivers food in the capital of Khyber Pakhtunkhwa province.

“I earn so little for each ride, and now most of it will go into fuel,” he told The Associated Press.

Jabran Sarfraz, a prominent economist in Karachi, said the immediate burden would fall on consumers, warning that higher fuel prices would raise the cost of daily necessities and disproportionately affect lower-income groups. He said the duration of the impact would depend on how quickly global prices ease.

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Khan reported from Peshawar, Pakistan.

Motorcyclists crowd into a filling station as they wait their turn to buy fuel, in Karachi, Pakistan, Thursday, April 2, 2026. (AP Photo/Ali Raza)

Motorcyclists crowd into a filling station as they wait their turn to buy fuel, in Karachi, Pakistan, Thursday, April 2, 2026. (AP Photo/Ali Raza)

A motorcyclist looks at the display at a fuel station as he buys fuel after the government increased fuel prices amid surging global oil prices due to the Iran war, in Peshawar, Pakistan, Friday, April 3, 2026. (AP Photo/Muhammad Sajjad)

A motorcyclist buys fuel after the government increased fuel prices amid surging global oil prices due to the Iran war, in Peshawar, Pakistan, Friday, April 3, 2026. (AP Photo/Muhammad Sajjad)

A worker fills fuel into a motorbike after the government increased fuel prices amid surging global oil prices due to the Iran war, in Peshawar, Pakistan, Friday, April 3, 2026. (AP Photo/Muhammad Sajjad)