1、July 2024Driving Paymentsof TomorrowHow Digital Economy Trends are Shapingthe Future of Payments in Singapore A Report ByKnowledge PartnerAbout this ReportThis special report by the SIIA provides a landscape view of the key digital economy trends and considers the payments sector in the broader cont

2、ext of the wider digital economy.The SIIA conducted a series of roundtables and interviews to garner insights from stakeholders in the payments ecosystem between April to July 2024.The report hopes to provide a more nuanced outlook on the future of payments,highlighting opportunities for businesses

3、which are directly or indirectly involved in the payments space.1.Digitalising the Wider Supply Chain Ecosystem2.Developing Products and Frameworks that are Secure-by-Design3.Nudging Secure and Safe Behaviour4.Enhancing the Quality and Availability of Sustainability Data5.Strengthening Public-Privat

4、e Partnerships(PPPs)6.Ensuring Regulation Keeps Pace with Innovation7.Cultivating Talent PoolAn expanded version with more details can be found in the last chapter of this report.1.ExecutiveSummarySoutheast Asias digital economy has experienced exponential growth over the last decade and is on track

5、 to be valued at US$600 billion by 2030.1 This rapid growth has fundamentally altered commerce,business operations and consumer behaviour,leading to significant transformations in the payments sector.This special report provides a landscape view of the key digital economy themes in Singapore and con

6、siders how they are shaping the future of payments.Singapore serves as an interesting case study due to the countrys rapid digitalisation and the high rate of cashless payments adoption in Southeast Asia.The five key themes that have emerged from our research are:Inclusive Digital Society and Econom