IT PROCUREMENT
“ SINGAPORE , PERHAPS THE REGION ’ S CROWNING JEWEL , BOASTS THE FASTEST UPLOAD AND DOWNLOAD INTERNET SPEEDS GLOBALLY ”
58 aforementioned report predicting total digital payments to cross the $ 1trn barrier by 2025 , representing nearly half of all the dollars spent in the region . Singaporean ecommerce giant Lazada was founded in 2012 to draw on this then burgeoning market . It ’ s an approach that drew dividends , with significant investment from Singapore ’ s Temasek Holdings in
2014 preceding the acquisition of a majority stake by Chinese giant Alibaba Group in 2016 .
Florian Hoppe , Partner and Leader of Asia Pacific Digital Practice for Bain & Company , said : “ Southeast Asia ’ s digital financial services are growing rapidly , with digital payments already at an inflection point and expected to exceed $ 1trn in gross transaction
SEPTEMBER 2020