Lesson 1 when you’re expanding to a new region: you can’t treat each country the same.
Let’s take South East Asia, for example. I’ve talked before about how a majority of the population in the region is unbanked.
But if you look at each country on its own, you’ll see that there are some places where people bank just as much – or even more – than the US does 🏦
In Malaysia, for example, 96% of the population has a bank account. 90% use digital banking – 13% more than the US.
This means bank transfer may actually be the easiest way to pay your Malaysian contractors or distributors!