About Warren Hayashi
Warren Hayashi, President of Asia-Pacific at Adyen, has discussed the role of digital payments in driving financial inclusion, particularly in Africa, where he described a "marriage between the bank, the fintechs, and the agent network" as a unique factor in the region's adoption of digital payments. He stated that "the ubiquity of mobile connectivity is so important to drive digital" and emphasized the need for education and engagement at the grassroots level to bring consumers onto digital platforms. Hayashi also said that "necessity is the mother of invention" and that societies can become "far more prosperous" when finance is available and money can move efficiently, adding that governments can "learn best practices from another government."
In earlier interviews, Hayashi discussed the fragmented payments landscape in Asia-Pacific, noting that consumer payment preferences vary widely across countries Pythagoras. He stated that Adyen integrates not only major credit card brands but also local methods such as Alipay, WeChat Pay, and UnionPay, as well as ATM and online banking options. He described the future of payments as "unified commerce," where retailers no longer think in terms of pure online or pure in-store, and said that "the consumer is expecting more now" as they move between channels. Hayashi also commented on millennial shopping habits, citing research that 50 percent of millennials prefer an in-store experience as part of their shopping routine.
Source: AI-verified profile updated from Warren Hayashi's recent appearances.
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Transcript (9 segments)
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Narrator0:00
Now innovation has revolutionized the way we spend, manage, and share our money. Competition in the payment space is heating up as more transactions go online, and Asia has become a hotbed of mobile payments. According to one study, Asia-Pacific is leading the world in mobile payment adoption.
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Reporter0:21
Asterol Kali is at Money 2020 Asia, where industry leaders are gathered here in Singapore. Sarah, what can you tell us?
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Sarah0:26
Well, Julie, financial technology has indeed changed the financial landscape here in the region, especially here in ASEAN. We still face different levels of development as well as different regulations. Now, to talk more about payments in this part of the world, we have Warren Hayashi, President of Asia-Pacific at Adyen. Thanks for joining us.
First of all, when you look at ASEAN and its different levels of development, different regulations, how do you... but you also have a lot of unbanked population. So how do you capture growth amid this fragmented space?
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Warren Hayashi1:03
There's so many opportunities here. By 2020, there's about 400 million people in ASEAN that's considered middle class, and they're projected to spend about 2.3 trillion dollars in retail. So a lot of not just local retailers are looking at the opportunity here. The global customers, many of whom Adyen works with, we work with some of the fastest-growing companies in the world: Facebook, Spotify, the Netflixes of the world, introducing them to payments here locally and having them reach out to their consumers here locally. Now, we look at the opportunity not in terms of whether it's credit card, debit card, mobile wallets; it's really around all the different payment methods that are outside of cash. It's really trying to remove cash out of the system. We have about 250 payment methods on our global platform, and in terms of ASEAN, we're looking at different payment preferences like online banking, convenience stores. We're working with our partners and our customers to figure out how to really tap into the next incremental consumer that wants to reach out to global brands.
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Sarah2:04
Yeah, when you look at a conference like this, you have a lot of different players when it comes to the mobile payments space. What does that mean for you guys, and what's next? What happens when there is consolidation in this market?
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Warren Hayashi2:17
Payments is not a one-size-fits-all. There are so many different payment preferences and payment methods. For us at Adyen, it's really simple: if there is a relevant payment method which our customers are asking for, we will bolt it on to our system. We have 250 payment methods now, and many of the new ones coming up are from this part of the world. There's a lot of talk about mobile wallets, QR codes. What's next? What's the next payment of the future? It's really interesting. I think there are so many opportunities for us. We've talked in terms of mobile wallets, but we think that the future is around unified commerce. Retailers now no longer need to think about, no longer can think about retail in terms of pure online or pure in-store. The consumer is expecting more. Now they go to the stores, yet they go home and purchase online. The cross-channel experience, what we call unified commerce, is something that needs to be top of mind for retailers worldwide, including here in this region. It just makes spending a lot easier.
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Sarah3:09
Thanks so much, Warren Hayashi from Adyen.
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Julie3:11
Oh, Julie, we'll have more from Money 2020 Asia here. And Emmy, back to you. Fascinating stuff. Thank you very much, Sarah. Asterol Kali reporting to us live from here in Singapore, where Money 2020 Asia is taking place.
