Money20/20, one of the world’s leading fintech shows, arrived in Thailand for the first time, serving up three days of insights into the latest fintech trends. Money20/20 Asia 2024, which took place from 23 to 25 April at the Queen Sirikit National Convention Centre in Bangkok, marked the event’s third host city following successful stints in Amsterdam and Las Vegas that have welcomed more than 20,000 fintech and financial services professionals annually.  

Bangkok, one of the favorite cities visited by tourists world over. It is also arguably the most visited, for a variety of reasons. Hence, it turned out to be a great choice by Money20/20 to set shop there for the 2024 Asia leg of their conference. Aside from the “Money” experience we had, the cultural experiences in the city of Bangkok were also unbeatable. 

The 3-day event was meticulously organized, ensuring every moment was dynamic and engaging, leaving no room for feeling like “I’ve had enough”.  

From payments to banking and crypto to financial services, the event will see top power players in the money ecosystem coming together to discuss megatrends such as Integration, Virtualization, and Eastward Expansion.  

Representing Payments Consulting Network, we participated in as many sessions as possible and met many exhibitors. A lot of them were first time presenters. Some seemed to be seasoned, while others were at their intense best, trying to make the best of the time together with the region’s top payments professional gathered under one roof. 

The event covered key trends in the global payment landscape, such as open banking in Europe, the QR code revolution in Asia, and the dominance of cards in the US. Dr. Wong Huei Ching from the Securities Commission Malaysia presented on Malaysia’s fintech journey in the capital markets, emphasizing the agency’s commitment to fostering innovation while prioritizing investor protection. 

The Fintech Australia and the Thai Fintech Association formalized their partnership through a memorandum of understanding (MOU) to boost the fintech capabilities of both nations. 

Overall, various themes came out of the event, as a common stitch in time across the 3 days: 

1. Embedded Finance and Focus on Integration: Gone are the days where Payments used to be a competitive space, now is the time for collaboration.  Competitors in one line of business could end up being collaborators in another. There was a lot of focus on these lines as different attendees spoke about such elements of taking the Payments ecosystem together ahead 
2. The Rise of Virtualisation or Neo-Banking: As I write this article, release of finances of Monzo, a neo-bank, underlines the movement of Neo-Banking across the Asia Pacific as well. In fact, one of the major banks in SE Asia announced launch of their full virtual banking platform 
3. High Growth Engine in APAC countries: As growth starts to stagnate or plateau in Western countries, more and more Fintech firms were looking eastwards towards APAC for growth. This shift, though expected, was also gratifying to see acknowledged and recognized at the event. It’s notable that companies like NIUM, Terrapay, Thunes etc, which have grown from APAC, have now expanded to become global companies. 
4. Financial Inclusion: No conversation regarding money in APAC is complete without the talk of Financial Inclusion.  

Other than Singapore and NE Asian countries, a large population of this part of the world remains unbanked and there were a few sessions talking about bridging the financial inclusion gap in the region. Initiatives like QR Code-based payments pushed by various central governments took center stage in many discussions.  

After its successful event in Bangkok, Money20/20 has confirmed that the show will return to the Queen Sirikit National Convention Center in April 2025. Register your interest for Money20/20 Asia 2025 here.    

As we look forward to the next installment, it’s clear that the insights and connections made at Money 20/20 Asia 2024 will continue to drive the industry forward, fostering growth and innovation in the payments sector. 

Author: Vishal Mehta, Associate, Singapore, Payments Consulting Network 

Vishal boasts over 12 years of experience in the payments industry, having worked across product management and partnerships at notable companies like Playspan, Expedia Group, and Microsoft. He has also played a key role in founding the Merchant Payments Alliance of India and the APAC chapter of the Merchant Advisory Group, always striving to serve the best interests of merchants. 

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Payments Consulting Network was a media partner of Money 20/20 Asia.  

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