The financial technology industry in Asia has grown rapidly, positioning the area to become a world leader in this field. In this in-depth study, learn about the history, services, and impact of ten of Asia’s leading fintech companies.
Read latest: Top 10 Fintech Powerhouses for Banking and Insurance
Top 50 Fintech Powerhouses in Asia
- Ant Group (China) – https://www.antgroup.com
- Paytm (India) – https://paytm.com
- Grab (Singapore) – https://www.grab.com
- Razorpay (India) – https://razorpay.com
- Ke Holdings (China) – https://www.ke.com
- Airwallex (Hong Kong) – https://www.airwallex.com
- Optasia (UAE) – https://www.optasia.com
- MadfooatCom (Jordan) – https://www.madfooat.com
- Lufax Holding (China) – https://www.lufaxholding.com
- Tencent (China) – https://www.tencent.com
Other Leading Fintech Companies in Asia
- PhonePe (India) – https://www.phonepe.com
- SeaMoney (Singapore) – https://www.seamoney.com
- Viva Republica (Toss) (South Korea) – https://toss.im
- Paidy (Japan) – https://paidy.com
- Folio (Japan) – https://folio-sec.com
- Tiger Brokers (China) – https://www.itiger.com
- PolicyBazaar (India) – https://www.policybazaar.com
- HelloGold (Malaysia) – https://www.hellogold.com
- MNT-Halan (Egypt) – https://mnt-halan.com
- Fawry (Egypt) – https://www.fawry.com
- 2C2P (Singapore) – https://www.2c2p.com
- Aspire (Singapore) – https://aspireapp.com
- Bluzelle (Singapore) – https://bluzelle.com
- Coda Payments (Singapore) – https://www.codapayments.com
- Endowus (Singapore) – https://endowus.com
- M-DAQ (Singapore) – https://www.m-daq.com
- SafeGold (India) – https://www.safegold.com
- Alami Sharia (Indonesia) – https://alamisharia.co.id
- SafexPay (India) – https://www.safexpay.com
- Svamaan Financial Services (India) – https://www.svamaan.in
- M2P Fintech (India) – https://m2pfintech.com
- CapBay (Malaysia) – https://www.capbay.com
- New Street Tech (India) – https://www.newstreettech.com
- Credit Fair (India) – https://www.creditfair.in
- iPartners (Australia) – https://ipartners.com.au
- Aijinet (South Korea) – https://www.aijinet.com
- Ace Trust In Solutions (India) – https://www.acetrustin.com
- Alpha Intelligence Global (Taiwan) – https://www.aig.com.tw
- Granatus Ventures (Armenia) – https://granatusventures.com
- Tarabut Gateway (UAE) – https://www.tarabutgateway.com
- Optio.Ai (Georgia) – https://optio.ai
- liwwa (Jordan) – https://www.liwwa.com
- UPayments (Kuwait) – https://www.upayments.com
- Tala (India) – https://tala.co
- Lendable (Singapore) – https://www.lendable.io
- Sipay (Turkey) – https://www.sipay.com.tr
- Grizzly.fi (Switzerland) – https://grizzly.fi
- Param (Turkey) – https://www.param.com.tr
- Identiq (Israel) – https://www.identiq.com
- Lune (Sweden) – https://www.lune.co
Read latest fintech articles: The Rise of Neo-Banks: Transforming Financial Access in Emerging Markets
Top 10 Fintech Powerhouses in ASIA
Ant Group began with Alipay, which built confidence between online suppliers and purchasers in 2004. Ant Group has become a leading open Internet platform throughout time.
With backing from the People’s Bank of China, Ant Group has worked with international card networks and digital wallets on the China Payment Facilitation Partnership to innovate inbound mobile payments since 2019. Ant introduced two mobile payment solutions for overseas guests at the 2023 Hangzhou Asian Games, and the list of supported international payment partners has grown since then.
In addition to higher payment volumes, inbound tourists use digital wallet value-added services to experience local life. Alipay+ partner wallet users redeeming digital coupons climbed 105% quarter-on-quarter over the past six months. In addition, Alipay+ wallet partners offered over 160 China travel mini-programs for luggage storage, power-bank rentals, massage chairs, and claw machines. Technological innovation helps Ant Group partners offer consumers and SMEs inclusive, convenient digital living and digital financial services. It also introduces new technologies and products to help industry digitalization and collaboration. With global partners, the company helps merchants and customers send and receive payments worldwide.
Read: The Future of Digital Wallets and Payment Systems for the Unbanked
Key Services:
- Alipay (digital wallet and payments)
- Insurance (through Ant Insurance)
- Microloans (via Ant Credit Pay)
- Investment and wealth management products
- Credit scoring (using big data analytics)
Funding and Valuation: With an estimated worth of 2.1 trillion yuan, Ant Group has emerged as the most valuable financial technology business in China.
Key Services:
- Mobile wallet services
- Bill payments
- Peer-to-peer transfers
- Online shopping
- Financial products like insurance and mutual funds
- Paytm Payments Bank offering savings and current accounts
Noida-based Paytm (pronounced “pay through mobile”) is an international financial technology business that focuses in digital payments and financial services.[4] Vijay Shekhar Sharma established One97 Communications’ Paytm in 2010. Merchants can accept QR code, Soundbox, Android-based payment terminal, and internet payment gateway payments from consumers using the company’s mobile payment services. Paytm offers microcredit and buy now, pay later to consumers and merchants in conjunction with financial institutions. Besides bill payments and money transfers, the firm offers ticketing, retail brokerage, and online games.
Grab is a Southeast Asian super-app that bills itself as “the everyday everything app.” The program enables users to order food deliveries, pay for daily purchases, invest in the stock market, take out insurance for life’s necessities, and even reserve a hotel room. Grab has expanded from its inception in 2012 to become a mobile application that is utilized by millions of consumers daily in Southeast Asia, with a presence in 13 distinct markets. Anthony Tan, a Harvard Business School graduate, serves as the Co-Founder and CEO of the fintech company, which is headquartered in Singapore.
Razorpay is one of the major fintech companies in India, with a customer base of more than 300 million. The company, which was established in 2014 by Harshil Mathur and Shashank Kumar, is dedicated to facilitating frictionless transactions and revolutionizing money management for online businesses by utilizing developer-friendly APIs. Razorpay is a company that provides merchants, ecommerce companies, and public institutions with fast and secure methods to accept and disburse payments online. The company has a workforce of approximately 800 employees and is supported by Y Combinator, Tiger Global, Ribbit Capital, and Sequoia. Razorpay’s services include payments, banking, credit, and payroll.
Read latest fintech articles:Fintech for Women’s Financial Empowerment
Ke Holdings is a Chinese holding corporation specializing in housing transactions and related services. Established in 2001, Ke Holdings is a company that operates in three distinct segments: New Home Transaction Services, Existing Home Transaction Services, and Emerging and Other Services. The Existing Home Transaction Services segment is responsible for selling and leasing existing housing through the online brokerage Beike. The New Home Transaction Services segment sells new housing agencies to real estate developers. The Emerging and Other Services segment involves financial services and newly developed businesses.
The financial technology platform, founded in 2015 in Melbourne, Australia and based in Singapore, offers businesses cross-border payments and financial services using a proprietary banking network and API.Global financial technology business Airwallex provides financial services and SaaS. Founded in 2015 in Melbourne, Australia[3] and located in Singapore, the financial technology platform offers businesses cross-border payments and financial services through its own banking network and API.It offers business accounts, expense cards, payroll, and more. It was Australia’s third tech unicorn. It processed $50 billion in annual transactions in 2022 at a valuation of US$5.5 billion.
Optasia, a sophisticated AI platform headquartered in Dubai, facilitates the acquisition of financial products and solutions for underprivileged populations. Optasia’s data engine and algorithms analyze various data from mobile devices to offer immediate credit decisions to its partners, expanding its services to more than 30 countries. Currently, the organization facilitates credit decisions for approximately 88 million customers each month and, as of 2021, had 560 million addressable customers. In recent years, the fintech has collaborated with Vodapay, the financial subsidiary of telecommunications company Vodacom, to increase its presence in the Democratic Republic of Congo.
Leading Jordanian fintech MadfooatCom lets clients pay and inquire about their bills in real time. MadfooatCom, founded in 2011, helps Jordanian banks improve customer experiences and reduce collection cycles. In addition to banks, MadfooatCom works with telecom providers, government organizations, and non-profits in Egypt, Saudi Arabia, Oman, Palestine, the UAE, Morocco, and Jordan.
Read: Fintech in Hospitality: Top 10 Fintech Solutions for Hotels
Lufax Holding, another Chinese corporation, empowers small and micro businesses with financial services. Lufax, part of Ping An Group, helps institutional partners connect and serve SBOs by offering comprehensive goods and services to SMEs and individuals. Lufax supports over 550 Chinese financial institutions with its offline-to-online approach and statewide direct sales network.
One of China’s largest tech and entertainment companies is Tencent. Tencent, which runs WeChat, offers embedded finance. The firm is China’s most valued publicly traded company after reaching US$500bn in 2018. Tencent uses advanced AI and massive industry models to help its consumers and business partners in various growing financial services trends. Tencent is a major video game vendor.
To participate in our interviews, please write to us at news@intentamplify.com
