E-money market27 Jun 2017 09:59
Seems that Asia has a very low card usage, hence the gap in the market for e-money
as another company explains (June 8 2017):
“And that means that there is only 3% card penetration in Asia, and yet there is 45% mobile phone penetration. So, what about the 42% who do not have a card, how are they going to benefit from this? So then what the service providers -- the taxi companies, e-commerce companies -- have to do is resort to cash on delivery, which is very inefficient. And so tha is the first pain point we are solving, by putting more cards out there, he says.
As MatchMove grew, Shailesh and his co-founder realised that the person who needs the card also does two other very important things with their money: they need to send and receive it and they need to borrow, for example to buy a new phone or to pay for something.
https://www.digitalnewsasia.com/business/helping-unbanked