Industry players from Philippine fintech GCash and Indonesian e-wallet DANA highlighted the benefits of increased ASEAN cooperation for serving micro, small, and medium enterprises (MSMEs).

The discussion occurred at a panel during the World Trade Organization (WTO) Public Forum in Geneva in September.

Rowena Zamora, Chief Strategy Officer of Mynt, GCash’s parent company, said ASEAN initiatives like the ASEAN Single Window have streamlined digital processing.

“We have to democratize policies and processes to expand MSMEs’ access to the market… and provide practical innovations that address issues like the cost of participation and the cost of regulatory compliance,” she stated.

Zamora added that standardising cross-border regulations lowers the cost for MSMEs to participate in the regional market. GCash currently enables digital transformation for approximately six million merchants.

Felix Sharief, Vice President at DANA, said his platform benefited from ASEAN’s standardisation of e-commerce processes, lowering costs and allowing DANA to provide more services for unbanked populations.

“Collaboration between the public and private sectors shapes the landscape… This way, we can have transformation and digitalisation, and make sure financial means are accessible to all of society,” Sharief noted.

Ambassador Manuel Teehankee, the Philippines’ Permanent Representative to the WTO, opened the panel by underscoring the need for accessibility in cross-border interoperability.

He also reaffirmed the Philippines’ backing of the Digital Economy Framework Agreement (DEFA) ahead of its ASEAN Chairmanship in 2026.

Zamora also participated in a separate working session on cross-border QR interoperability and regional payment connectivity.

Featured image by odua via Freepik.

This article first appeared on Fintech News Philippines.