Banks accelerate card innovation amidst SEA challenges

Southeast Asia’s rapid payment innovation is driving banks toward self-issuance kiosks.

Southeast Asia’s fast-evolving payments landscape is pushing banks and fintechs to rethink how they issue and secure payment cards while navigating diverse infrastructures and rising consumer expectations. According to Atul Singh, Global Head of Distribution Sales for Payment Cards at Giesecke+Devrient ePayments GmbH, the region’s unique mix of innovation and geographic complexity is reshaping card strategies and accelerating demand for modern issuance solutions.

At the sidelines of Singapore FinTech Festival 2025, Singh said that many global payment trends can be traced back to markets such as India, China, and Thailand. But this growth also creates challenges for traditional banks. The region’s vast geography “puts a big challenge on the traditional banks to onboard new customers for bringing convenience and reliability of payments,” he added.

Fintechs have stepped in to close these gaps, providing “the convenience, the trust to the consumers,” Singh said. One of the clearest shifts is the rise of self-issuing kiosks, which allow customers to print debit cards in minutes. “These kiosks are actually self issuing kiosks… and they go in a couple of minutes with their new debit card,” he said. G+D has deployed more than 100 kiosks in Libya, with similar momentum in the Philippines, South Africa, and the Middle East.

Sustainability and form-factor innovation are also becoming competitive differentiators. Banks are adopting recycled PVC and ocean-plastic cards, driven by mandates such as Mastercard’s 2028 deadline and G+D’s own 2030 commitment “to stop producing any first use plastic cards.” Singh added that high-end metal cards, wood cards, ceramic cards, and biometric fingerprint cards are gaining traction, especially among older users and affluent consumers.

Despite the rise of digital wallets, Singh believes physical cards will remain integral. “I do not see the cards going away anytime soon,” he said, citing consumer attachment and consistent global growth. Even recent declines tied to COVID-related demand spikes and chip shortages are expected to normalise. “This card part will always complement the digital part,” he said.