Like many regions around the world, Southeast Asia experienced an ecommerce boom in 2020, as various pandemic-driven social lockdowns encouraged more shopping from home. According to our estimates, ecommerce grew by 35.2% collectively in the region last year, and our newest forecast projects 14.3% growth this year. However, traditional retail is still overwhelmingly dominant.
Growth from existing enterprise partners like AirBnB and Shein also translated into increased POS and processing volume for Adyen. Global expansion to support more merchants. In May, Adyen brought its acquiring business to Japan, and the following month to the UAE—two countries where ecommerce is expanding.