Supporting the payments ecosystem alongside EPAA members such as Commonwealth Bank, Mastercard, Paypal, and Swift to advance safety standards and shape payments policies in the region
Sumsub has joined the Emerging Payments Association Asia (EPAA), a leading industry organization for innovative businesses across the payment ecosystem in Asia Pacific (APAC). EPAA’s prestigious group of members include industry leaders like Commonwealth Bank, Mastercard, Paypal, and Swift. This collaboration underscores Sumsub’s ongoing commitment to fostering key industry connections and contributing to the vibrant financial payments landscape in the APAC markets.
As a Premium Member of the organization, EPAA provides a useful platform for Sumsub’s experts to engage with industry leaders and policymakers to advocate for stronger fraud prevention frameworks and promote safer and more resilient payment ecosystems amidst the evolving regulatory environment.
“Collaboration is at the heart of what EPAA stands for. By joining our community, Sumsub adds important capabilities in compliance and fraud prevention, helping ensure the payments industry in APAC can respond collectively to challenges and unlock opportunities for growth,” Camilla Bullock, CEO and Co-founder, Emerging Payments Association Asia.
As the APAC region continues to build a more connected and digital financial ecosystem, it also opens up new opportunities for fraudsters to take advantage. Sumsub’s 2024 Identity Fraud Report highlights that Australia saw a 138% increase in fraud year-on-year, ranking it among the top 10 APAC countries with the fastest fraud growth. India isn’t far behind—it ranks 13th globally as one of the countries least prepared to tackle fraud, according to Sumsub’s recent findings. These challenges highlight the growing need for smart, AI-driven solutions to protect the payments and fintech sectors in these fast-evolving markets.
“We are enthusiastic to join EPAA and become part of an elite community that is shaping the future of payments in APAC. This partnership offers a valuable opportunity to bring our expertise and advanced technology to markets like Australia and India, where digital payments growth is accompanied by rising fraud risks. Together, we look forward to driving innovation, enhancing security, and creating a safer payments ecosystem across the region,” said Penny Chai, Vice President of APAC, Sumsub.
About Emerging Payments Association Asia, EPAA
The Emerging Payments Association Asia (EPAA) is a leading membership organisation for innovative businesses in the Asia Pacific payments ecosystem.
EPAA not only empowers our members through tailored events, impactful industry projects, and proactive advocacy efforts, but we’re also curating, hosting, and leading the most important discussions in the payments industry.
By collaborating with regulators and official bodies regionally and globally, such as the Financial Stability Board and the Asia Business Council, we contribute to shaping policies and practices.
For more information, visit https://emergingpaymentsasia.org
