In Asia-Pacific’s vibrant travel scene, payments are becoming as much a part of the journey as airports and attractions, with 60 per cent of South-east Asian consumers preferring to go cashless.
Travellers across the region are tapping, scanning and swiping their way through journeys that once involved costly currency exchanges and managing paper receipts. This transformation goes beyond convenience, reflecting a broader change in mindset where speed, flexibility, transparency, and choice define every transaction from booking to checkout.
Asia’s mobile-first economies and financial technology (fintech) innovation have accelerated this shift, with digital wallets like GrabPay becoming everyday essentials while Western markets still rely on traditional credit card infrastructure and even cash in some markets.
Still, the shift towards cashless travel in Asia-Pacific remains uneven. China leads with digital wallets making up 82 per cent of e-commerce while Singapore still favours credit cards in-store and digital wallets online. Cash still holds appeal in Japan and the Philippines, showing that flexibility and trust remain key in this evolving payments landscape where digital adoption does not always reflect economic development.
For the travel industry, this evolution presents both opportunity and complexity. With varying levels of digital payments across the region, digital travel platforms must balance innovation with inclusivity, modernising mobile-first payment experiences without leaving any traveller behind.
Bridging the cashless divide in Asia-Pacific with fintech
The shift towards cashless commerce is transforming travel across Asia-Pacific, where digital payments are expanding financial access for travellers and merchants alike. Non-digital payments are expected to account for only six per cent of South-east Asia’s e-commerce transactions by 2028, with mobile wallets, domestic transfers, credit cards, and Buy-Now-Pay-Later (BNPL) options making up the rest. This rapid digitalisation highlights how quickly cash is fading from travel, while underscoring the need for inclusivity amid concerns over cybersecurity and data privacy.
Against this backdrop, Booking.com is leading the shift towards a cashless, frictionless travel economy. Guided by its fintech vision to remove payment barriers, the company’s Payments by Booking.com platform allows travellers to book stays worldwide using their preferred payment method, including e-wallets, credit cards and BNPL. In 2024, Booking.com processed 59 per cent of total gross bookings, reflecting travellers’ demand for seamless mobile-first payments.
Booking.com’s digital payment ecosystem actively fuels industry growth by simplifying cross-border payments and currency conversion, empowering travellers with greater choice while helping independent accommodation expand globally, improving cash flow and reducing operational hurdles.
This ripple effect strengthens the entire travel value chain. Booking.com’s partnership with Antom demonstrates how digital travel platforms can enhance cross‑border payments without excessive complexity, offering over 10 local payment options across eight key markets including PayPay, ShopeePay, NaverPay, AlipayHK, GrabPay, Touch ‘n Go, through a single integration.
Looking ahead
As fintech and travel continue to converge, digital payments are becoming the invisible backbone of a truly connected trip, linking discovery, booking and post-stay experiences. For digital travel platforms like Booking.com, the goal is to harness innovation and partnerships to make travel simpler, safer, more local and more rewarding for everyone.