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)

LOS ANGELES (AP) — A man was charged with murder Friday in the stabbing of “Jumanji” and “Top Gun: Maverick” actor James Handy, who was his mother’s boyfriend.

Michael Gledhill, 44, was charged after police say officers found the 81-year-old Handy stabbed in the chest and unconscious outside his home in Los Angeles on Wednesday. Handy was taken to the hospital and later pronounced dead.

Gledhill was expected to be arraigned Friday afternoon in Los Angeles Superior Court.

Authorities say Gledhill was arrested after telling police he was the person they were looking for. Police had responded to the home after a 911 caller stated: “I am the son of man, I just killed the man of sin,” according to the department.

Handy was a character actor in films and on TV for decades, including appearances in a variety of television crime procedurals.

Bail was set at $2 million for Gledhill, who lives at home with his mother, according to authorities.

It was not immediately clear if he had an attorney. Jail records did not show an attorney for him and messages left with the county public defender’s office were not immediately returned.

Born in New York, Handy appeared in films and TV shows for decades.

He was known for his role as an exterminator in the 1995 film “Jumanji” and more recently as the bartender Jimmy in the 2022 film “Top Gun: Maverick,” according to IMDB. He’s also appeared in some of the top TV crime dramas, including “NCIS: Los Angeles,” “The Closer” and “Cold Case.”

“I could not have asked for a more talented, humble or gracious client and friend than James Handy,” Pam Ellis-Evenas, from the Ellis Talent Group, said in an email to The Associated Press.

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Associated Press journalist Philip Marcelo contributed from New York City.

This image made from video provided by KABC shows the scene at a home where authorities were investigating the fatal stabbing of actor James Handy on Wednesday, June 3, 2026, in Los Angeles. (KABC via AP)