On my first visit to Indonesia nine years ago, I had to pay for my outbound airline ticket using cash (rupiah) at a travel agency because local carriers did not accept online payments. In fact, at that time, most cafes would not accept credit cards and online purchases were non-existent. Fast forward to today, and there are digital wallets accepted everywhere, from airlines to warungs (street-food vendors).
Investors love Southeast Asia because it’s a region where traditional societies are modernising rapidly. For example, although wireless coverage remains uneven in far-flung rural areas, about half of ASEAN users now have access to 4G networks. Venture funding, once a large concern for the region, has now become a core strength. Last year, ASEAN’s internet companies raised a record $11 billion, according to Cento Ventures’ SEA Tech Investment Report 2018.
MySale Group (LON:MYSL) is a leading international online retailer with established retail websites in Australia, New Zealand, South-East Asia and the United Kingdom. Founded in 2007, the Group provides customers with access to outstanding brands and products at discounted prices whilst simultaneously providing brand partners unique international inventory and sales solutions.