Ideal solutions that are more accessible, affordable, convenient Boost’s cross-border payment ecosystem brings together the underserved Access to financial services is a fundamental component of econo
By Digital News Asia October 3, 2023By Digital News Asia October 6, 2023By Sustainability Matters September 27, 2023By Digital News Asia September 26, 2023By Digital News Asia June 6, 2023Boost’s cross-border payment ecosystem brings together the underserved
However, the meteoric rise of fintech in Asia, and SEA, is rapidly transforming this situation. The region's high mobile and internet penetration rates, coupled with a growing middle class, create a fertile ground for fintech startups to provide innovative solutions. By leveraging ubiquitous digital and mobile technology, fintech companies are able to provide financial services to people who were previously excluded or underserved by traditional banking channels.
For example, Boost worked closely with Robi, the second largest mobile network operator in Bangladesh to enable digital payments through DCB. This opened a whole new world of possibilities as credit card penetration is only 0.2% in Bangladesh,of the population owned a smartphone as of end 2021. So while many users could access digital products and services, they didn’t have a method to pay for them.
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