# A SUMMARY FROM SINGAPORE: TAKEAWAYS FROM THE FIRST MONEY 20/20 ASIA
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-03-23
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Key Trends in Asian Payments Landscape - Money20/20 Review
Meta Description: Discover the latest insights from Money 20/20 Asia event on payments, technology, and consumer trends in the Asian market. Read more here!
URL: https://financedigest.com/a-summary-from-singapore-takeaways-from-the-first-money-20-20-asiahtml

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_By **Lina Andolf-Orup**, Global Product Marketing Manager at Fingerprints_

As something of a Money 20/20 series veteran, having attended the Europe and Vegas editions several times, it was with great curiosity and even greater expectations that I set off to the first Asian event.

Held in Singapore, the event had many of the same faces – the giant Techs, the payment schemes, the big payments vendors and banks. But the varied and nuanced [nature of the countries which comprise the ‘Asian market’](https://www.financedigest.com/duct-tapes-market-to-grow-at-5-2-natural-rubber-based-adhesives-to-contribute-over-4-5th-of-total-sales-fmi.html "Duct Tapes Market to Grow at 5.2%; Natural Rubber-Based Adhesives to Contribute Over 4/5th of Total Sales: FMI") was immediately obvious and made for some extremely interesting discussions. So, now [back in my own time zone](https://www.financedigest.com/euro-zone-current-account-swings-back-to-a-surplus-in-june.html "Euro zone current account swings back to a surplus in June"), here’s some of the key talking points that really stood out for me.

**It’s all in the detail**

![Lina Andolf-Oru](http://www.financedigest.com/wp-content/uploads/2018/03/Lina-Andolf-Oru-450x527.jpg)

Lina Andolf-Oru

A recurring keynote theme was the need to focus on the smaller points. Sure, buzz around transformative technology was rife (if I had a Singapore or [Hong Kong](https://www.financedigest.com/luxury-yacht-owned-by-sanctioned-russian-oligarch-docked-in-hong-kong.html "Luxury yacht owned by sanctioned Russian oligarch docked in Hong Kong") dollar for every time I heard about Blockchain…), but it was refreshing to see renewed focus on how technology can be harnessed to remove the small frictions we experience in our daily financial lives, _now_.

DBS Bank, noted that we should consider what finance and banking enables – the much-needed holiday you want to book, or the [loan to start your own business](https://www.financedigest.com/best-small-business-loans-speaks-to-fundbox.html "Best Small Business Loans Speaks to Fundbox"). [Payments need to be a means rather than an end](https://www.financedigest.com/end-of-year-overview-of-the-payments-industry.html "End of year overview of the payments industry").

This was reflected in the tailored approach big [players were adopting with each country](https://www.financedigest.com/industrial-degreaser-market-2022-by-global-key-players-types-applications-countries-industry-size-and-forecast-to-2030.html "Industrial Degreaser Market 2022 by Global Key Players, Types, Applications, Countries, Industry Size and Forecast to 2030"). Whether empowering micro-merchants, supporting India’s rapid demonetization, or looking at the growth of credit in China – the larger payments ecosystem is scrutinizing how it needs to adapt to meet each [market’s unique points](https://www.financedigest.com/digitally-projected-revenue-to-be-the-unique-selling-point-of-surgical-chisels-market.html "Digitally projected revenue to be the unique selling point of Surgical Chisels Market") of friction.

**Consumers want more than mobile**

[Asia has long been the leader of the mobile](https://www.financedigest.com/the-south-east-asia-residential-water-treatment-equipment-market-to-be-on-the-mobility-move.html "The South East Asia Residential Water Treatment Equipment Market To Be On The Mobility Move") revolution, but the event raised the importance of not narrowing the strategic vision too far. In fact, in one panel, the question was even asked whether mobile payments were _dead_, with slow adoption [rates outside of China](https://www.financedigest.com/stocks-struggle-as-china-rate-cut-sends-oil-tumbling.html "Stocks struggle as China rate cut sends oil tumbling").

Customers like flexibility and options in their financial lives. The number of online giants now [opening physical stores](https://www.financedigest.com/lego-posts-strong-growth-on-robust-demand-new-store-openings.html "Lego posts strong growth on robust demand, new store openings"), such as Amazon, illustrates that. Not to mention the number of traditionally mobile-centric Fintechs, such as Uber, [launching a loyalty-driven payments cards to work in tandem with their app](https://www.financedigest.com/how-an-injury-led-to-launching-a-first-of-its-kind-fitness-app.html "How An Injury Led to Launching a First-Of-Its-Kind Fitness App") offerings.

There is no one ‘better’ [way to pay](https://www.financedigest.com/digital-wallets-the-new-way-to-pay.html "Digital Wallets: The New Way to Pay"). Equally, there is no single [way consumers](https://www.financedigest.com/the-future-of-retail-and-the-ways-that-retail-has-changed-for-consumers-during-the-pandemic.html "The future of retail and the ways that retail has changed for consumers during the pandemic") want to pay for everything. Offering a multipronged approach must become [central for retailers and banks looking to get ahead](https://www.financedigest.com/polish-central-bank-holds-rates-points-to-slowdown-ahead.html "Polish central bank holds rates, points to slowdown ahead").

**Cards are getting cooler**

Cards are in vogue again and issuance figures are [continuing to rise across Asia](https://www.financedigest.com/adverty-partners-with-livewire-to-continue-growth-of-in-game-advertising-across-asia-pacific.html "Adverty partners with Livewire to continue growth of in-game advertising across Asia Pacific").

Premium, brand-driven payments cards were showcased at the event, with design and luxury at the heart of new offerings. The sleek metal card launched by Monaco was an especially interesting example of how the humble payment card is adapting to the modern age, incorporating its cryptocurrency wallet into a physical card and with a [mobile app](https://www.financedigest.com/why-you-should-use-a-mobile-banking-app-and-how-to-make-the-most-of-it.html "Why You Should Use a Mobile Banking App – and How to Make the Most of It") as companion.

**Biometrics still has its finger on the pulse**

Biometrics were prolific at the event. From ‘selfie pay’ solutions and voice recognition, to biometric smartcards, initiatives focused on how [biometrics can be used to reduce fraud and improve user experience in payments](https://www.financedigest.com/how-biometric-payments-are-tackling-financial-exclusion.html "How Biometric Payments Are Tackling Financial Exclusion").

Whilst biometrics technology has long been a conference discussion point, it was evident that biometrics have quickly become favored by consumers – a symbol of convenience, cool and security – and they are [moving beyond](https://www.financedigest.com/the-high-fiber-feed-market-to-move-beyond-the-monotony.html "The High Fiber Feed Market To Move Beyond The Monotony") smartphones.

It’s no surprise then that biometric smartcard [demos and trials](https://www.youtube.com/watch?v=0Htf6DAoONg&feature=youtu.be?utm_source=iseepr&utm_campaign=M2020Asia_blog) were a big feature at the event. Combining the familiarity and choice provided by the payment card, with the ease of use and security of biometrics, momentum is certainly gathering in the region and our [consumer research shows that the demand](https://www.financedigest.com/global-emi-shielding-market-significantly-hit-by-lack-of-consumer-demand-scenario-post-covid-19-crisis-likely-to-remain-gloom.html "Global EMI Shielding Market Significantly Hit By Lack Of Consumer Demand; Scenario Post Covid-19 Crisis Likely To Remain Gloom") is there.

![Source: Fingerprints market research in collaboration with Kantar TNS, 4,000 online consumers in USA, UK, China, India](http://www.financedigest.com/wp-content/uploads/2018/03/chart-450x406.jpg)

Source: Fingerprints market research in collaboration with Kantar TNS, 4,000 online consumers in USA, UK, China, India

To return to ‘the small stuff’, these solutions tackle the minor friction points consumers [experience in their daily payments](https://www.financedigest.com/how-netflix-justeat-and-uber-raised-the-bar-for-the-payments-experience.html "How Netflix, JustEat and Uber raised the bar for the payments experience") lives. To look at the bigger picture again, the [market potential](https://www.financedigest.com/functional-extracts-market-potential-growth-share-demand-and-analysis-of-key-players-forecasts-to-2029.html "Functional Extracts Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2029") is huge and we look forward to seeing it take off.

What were your key takeaways from the first Money 20/20 Asia? Join the discussion on [Twitter](https://twitter.com/FingerprintCard?utm_source=iseepr&utm_campaign=M2020Asia_blog).


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