SoftBank-backed buy now, pay later firm to merge with Southeast Asian e-wallet

A major merger in the Southeast Asian fintech market has been announced, as a SoftBank-backed buy now, pay later (BNPL) company plans to combine operations with a leading regional e-wallet provider. The move is aimed at creating a super app capable of handling payments, lending, and shopping services across multiple countries in the region.

The merger brings together two complementary platforms. The BNPL firm offers consumers flexible installment options for online and in-store purchases, while the e-wallet provider enables mobile payments, bill settlement, and peer-to-peer transfers. By joining forces, the companies expect to provide users with a seamless digital finance experience, allowing them to pay, save, and access credit within a single interface.

Executives involved in the deal describe it as a response to rising consumer demand for integrated financial solutions. Southeast Asia’s digital economy is booming, driven by increased smartphone penetration, e-commerce growth, and a younger population that prefers mobile-first financial services. The merged entity will be positioned to capture a significant share of this growing market.

Investors are optimistic that the combination will unlock new revenue streams. BNPL services are highly popular with younger shoppers who often lack access to traditional credit, while e-wallets offer recurring transactional income from payments and merchant partnerships. Together, these services create a broader ecosystem that can cross-sell offerings, increase customer engagement, and improve long-term profitability.

The merger also allows the companies to expand their geographical footprint. The BNPL platform already has operations in multiple Asian markets, while the e-wallet provider has a strong presence in emerging economies such as Indonesia, Vietnam, and the Philippines. Consolidating resources and technology will help the combined company scale more efficiently and compete with regional rivals, including GrabPay, GCash, and ShopeePay.

Operationally, the integration will focus on combining backend infrastructure, user interfaces, and payment processing capabilities. Both companies plan to retain their existing branding for the short term while creating a unified customer experience. Features like real-time account management, instant credit approvals, and loyalty rewards are expected to be harmonized across the merged platform.

Industry observers note that the deal signals a broader trend in Southeast Asia’s fintech sector, where consolidation is becoming common as companies seek to strengthen their market position and offer more comprehensive financial services. Partnerships and mergers like this also appeal to international investors looking for scalable, technology-driven financial solutions in emerging markets.

Regulatory considerations are a key factor, as authorities across different countries monitor digital lending, payment processing, and data protection. Executives involved in the merger emphasize that compliance will remain a top priority, with dedicated teams ensuring that operations meet local legal requirements.

By creating a super app that integrates payments and credit, the merged company hopes to redefine how consumers and merchants interact digitally. For users, the combination promises greater convenience, more financial flexibility, and access to services that were previously fragmented across multiple apps. For investors and partners, the merger represents an opportunity to capitalize on Southeast Asia’s rapidly growing digital finance ecosystem and to set the stage for future expansion in the region.