Asia

Asian banks are fast-tracking adoption of digital payment systems, including the rollout of the e-CNY merchant payment service by Hang Seng Bank and China Construction Bank in Hong Kong. The new service enables seamless payments using e-CNY wallets at over 100 merchants in the city. The Philippines, Singapore, and Malaysia are also accelerating instant payment adoption via platforms like PayNow and FAST, reducing cheque usage ahead of planned 2027 phaseouts. Despite enthusiasm, around 13% of Asian financial institutions remain uncertain about readiness timelines for supporting instant payments. Meanwhile, banks like Macquarie and OCBC continue to report strong capital positions and investor returns, balancing growth with risk management.