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| Cross-Border ecommerce makes up about 40% of ecommerce transactions. | |
At the beginning of the pandemic in 2020 the airline and cruise industry started to shut down and this caused an understandable level of concern amongst the main Cross-Border payment firms including creditcards. But many underestimated the rise that would be ahead in Cross-Border payments that occurred as people increased Cross-Border e-commerce.
Cross-Border ecommerce makes up about 40% of ecommerce transactions. Large e-commerce businesses such as Amazon and large specialist payments firms such as PayPal were amongst the first to see the uptick in Cross-Border e-commerce, and they used their spare capacity to service their clients in a very demanding market. Particularly in a region like Asia which is a diverse and fragmented payments landscape, there were many challenges over and above the pandemic logistics themselves.
And it is these very themes which are front of mind for EPA Asia during this time. Over and above the events that we run for members EPA Asia has also been involved in the following regional events : - Economic Times BFSI Conference (India) : June 24 – Keynote on Emerging Payment Technology Trends
- EPA - Bank of England Cross-Border Payments Workshop (UK) :June 28
- APEC 2021 (New Zealand) E-commerce trends in Trade : June29
- FSB Closed Session Virtual Reachout event : June 30
And then we are also looking forward to the next IIF – EPA Global Payments Forum event, which marks a new focus on a case study between Shinhan Bank and WISE. This event will allow participants over 30 mins of interaction to get focused on the work at hand for assisting in the EPA submission to FSB around the G20 Payment Targets, due for July 16. We are in a period of great change, and comes with the opportunity to really start to make a difference in payments.
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The above barometer survey is forming part of the Digital Identity white paper that will soon launch. Please assist in answering this one question - it will take less than a minute. It helps us to focus on the challenges most relevant to our members. Thanks
Click here to take survey
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EPAA is excited to welcome two new members to our Advisory Board - Katie Mitchell, Global Head of Government Relations at Nium and Jan McGrath, GM Issuing Products and Solutions at Novatti Group (ASX:NOV) Group.Katie and Jan bring exciting and diverse skill sets to our Advisory Board - and we look forward to fully exploiting those skills in the service of bettering the payments ecosystem in Asia. ✨
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Register to get yourself more involved in payments. | |
IFF - EPA Global Payments Forum | | | |
Payments meet Blockchain webinar | | | |
Regulation WG: Keynote on progress of Japan Payment Regulations | | | |
APAC Fintech Payments Forum | | | |
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Quote of the Month with Meet-her
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FSB G20 Cross Border Payments Targets Submission
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Press "Read More" to check our past event recordings, articles and related materials. | |
IIF – EPA Global Payments Forum | | | |
FUSE – Digital Currency - Annabelle Huang | | | |
Meet-Her She Knows Payments - Blockchain and Payments | | | |
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In a world where online and digital collaboration is increasingly the norm EPA Asia projects are continuing to align more with the trends. Monthly working meetings are being held on the 3 operational projects, as follows : - Project Cross-Border APAC : second Wednesday every month
- Project Digital Identity APAC : third Wednesday every month
- Project Regulations APAC: fourth Wednesday every month
- Special project - Meet-Her: This is arranged around the workshop events and is run on selected dates each month.
To join the EPAA Project Working Group projects@emergingpaymentsasia.org
PROJECT REGULATIONS SPONSORED BY CORLYTICS - Natalie Fleming (Senior Director - Banking and Regulatory Relations Asia Pacific) Payoneer will be joining our Regulatory Working Group on July 28 as a Guest Speaker. Key theme will be the progress of Japanese Payments Regulations. To join the meeting please contact projects@emergingpaymentsasia.org. The Regulations Working Group will also be participating in the FSB Cross Border Payments Target Submission from EPAA
- The Payments Tracker is now live and EPAA members are being provided access to review.
- Corlytics Regulation Tracker Demo video
 (email projects@emergingpaymentsasia.org for login access) - Regulatory reachout program connected with RBA (Cross-Border Forum) and APEC finance and economic ministers (Open Banking POC)
Working Group Members are:- Dr Brad Pragnell (EPAA Ambassador)
- Zennon Kapron (EPAA Ambassador)
- Antony Morris (EPAA Ambassador)
- John Byrne (Corlytics)
- Mike O’Keefe (Corlytics)
- Sean Peterson (AMEX)
- Simone Joyce (FinTech Australia)
- Steven Chan (PayPal)
- Amrita Nair (PayPal)
- Anurag Vasisth (ABP Australia)
- Thomas Hind (DXC Technology)
- Sarah Wood (AMEX)
- Desmond Lim Ching Hau (Ebay)
- Laura Hu (eBay)
- Mailu Mizumoto (eBay)
- Holly Dorber (PayPal)
- Abraham Teo (AxiomSL)
- Dom Braun (E6)
- David Brown (Finastra)
- John Ryan (Director General, EPAA)
PROJECT CROSS-BORDER PAYMENTS SPONSORED BY PAYPAL Project Cross-Border Update Three key focus areas: - Dr Brad Pragnell (EPAA Ambassador), working with Fannette Hsin (Project Director), is leading the EPAA submission to the FSB Cross-Border Payments Targets Submission. The draft submission will be circulated to members prior to submission on July 16. (Watch here)
- IIF-EPA Global Payments Forum Workshop to be held on 7 July 2021. "From competition to collaboration, how incumbents and fintechs can work together to solve customer expectations” - A case study investigating Wise and Shinhan Bank. (Register here)
- Asian Bank Leaders meeting is WIP
- The regional fintech forum is earmarked for a August meeting, where regional fintechs will Airmeet.
Working Group Members are: - Fannette Hsin (EPAA Ambassador/Project Director)
- Amrita V Nair (PayPal – Project Sponsor)
- Dr. Brad Pragnell (EPAA Ambassador)
- Melissa Keir (Marqeta)
- Kenneth Leung (SWIFT)
- Laura Hu (EBAY)
- Mishal Ruparel (Banking Circle)
- Thomas Hind (DXC Technology)
- Steven Chan (PayPal)
- Tom Alaerts (Swift)
- Stephen Peters (FIS)
- Katie Mitchell (Nium)
- Todd Latham (CurrencyCloud)
- Mailu Mizumoto(EBAY)
- David Brown (Finastra)
- John Ryan (Director General, EPAA)
PROJECT MEET HER - SHE KNOWS PAYMENTS - To date we have run 10 roundtables with over 100 female thought leaders.
- The roundtable on the topic of Blockchain and Payments was held on 8 June 2021.
- Financial Inclusion - 30 June
For more information regarding EPAA Project Meet Her - She Knows Payments
PROJECT OPEN BANKING SPONSORED BY PAYPAL SUPPORTING SPONSORS: SPLIT PAYMENTS, TRUELAYER, DXC TECHNOLOGY, REFINITIV, SWIFT, EQUINIX - The POC was conducted March 19, in partnership with MAS backed APIX, and run in conjunction with APFF (Asia Pacific Financial Forum), focus on standardisation of APIs
- Jennifer Harrison discusses the POC.
 - Follow-up POC event to be planned with APEC regulatory group.
PROJECT DIGITAL IDENTITY SPONSORED BY CITI & FICO - White Paper is due for release Q3 2021.
- Plan for whitepaper release is being finalised.
- EPAA is looking for case studies showcasing interoperability in digital identity. If you would like to be considered please contact camilla.bullock@emergingpaymentsasia.org
Working Group Members are: - Rajiv Madane (Project Director, Covr Security)
- Victoria Richardson (Project Mentor, AusPayNet)
- Richard Lomas (Citi)
- CK Leo (FICO)
- Ian Sorbello (Transmit Security)
- Rob Allen(eftpos Payments Australia)
- Desmond Lim Ching Hau (Ebay)
- Mailu Mizumoto (EBay)
- John Ryan (Director General, EPAA)
To join the EPAA Project Working Group projects@emergingpaymentsasia.org
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