Mobile payments have become the vanguard of fintech, enabling instant payment and settlement with the convenience of mobile devices. It is widely seen that the emerging technology will transform the payments industry and become one of the key drivers of the digital economy. Mobile payments have been growing at a fast pace globally over the past decade, valued at $1.4 trillion in 2018 and projected to reach $5.4 trillion by 2026.¹ More than one-third of the e-wallet usage has been in the Asia