But the Southeast Asian online payments market is a sleeping giant that is supposed to touch the US$226.50 billion mark in 2023. This is because the adoption rate of cashless payments in ASEAN countries is booming and will reach 93% in 2021, as per Statista. Almost every country is adopting online payments at an exceptional rate, but Malaysia has emerged as a leader with a cashless payment adoption rate of 96% in this online payment revolution.