## ASEAN’s Digital Payment Revolution: A New Frontier for Regional Integration, Thailand

_Selected Issues Papers, February 20, 2026_

## Source details

**Canonical URL:** [ASEAN’s Digital Payment Revolution: A New Frontier for Regional Integration, Thailand](https://www.imf.org/en/publications/selected-issues-papers/issues/2026/02/20/aseans-digital-payment-revolution-a-new-frontier-for-regional-integration-thailand-574175)

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## Bibliographic details
- Authors: Nur M Adhi Purwanto, Ying Xu
- Published: February 20, 2026
- Series: Selected Issues Papers
- DOI: https://doi.org/10.5089/9798229041348.018

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### Overview
- Study purpose: Takes stock of recent developments on digital payments in Thailand and ASEAN broadly; explores drivers and potential benefits; analyzes factors underlying the frequency of digital payment usage; discusses relevant policy considerations.
- Core insight: ASEAN countries have made significant progress in developing domestic and cross-border digital payments, aligned with initiatives to improve regional financial integration.
- Preliminary evidence: Advancing regional payment connectivity by increasing local currency usage can strengthen financial resilience and reduce vulnerabilities to external shocks.

### Key findings and implications
- ASEAN progress: Significant development of domestic and cross-border digital payments across ASEAN.
- Potential benefits:
  - Strengthened financial resilience through increased local currency usage.
  - Reduced vulnerabilities to external shocks via improved regional payment connectivity.
- Evidence status: Described as preliminary in establishing benefits of regional payment connectivity.

### Drivers and potential benefits (as examined)
- Drivers: The study explores recent developments and underlying drivers of digital payments in Thailand and ASEAN (specific drivers are examined in the full paper).
- Potential benefits: Increased local currency usage and regional payment connectivity aimed at strengthening financial resilience and reducing external vulnerabilities.

### Determinants of digital payment usage
- Focus: Analysis of factors underlying the frequency of digital payment usage (details and empirical results are contained in the full study).

### Policy considerations
- Coverage: Discusses relevant policy considerations for advancing digital payments and regional integration (policy recommendations and specifics are presented in the full study).

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_Source: https://www.imf.org/en/publications/selected-issues-papers/issues/2026/02/20/aseans-digital-payment-revolution-a-new-frontier-for-regional-integration-thailand-574175_