With a population of over 2 billion people, East Asia and the Pacific (EAP) contains 27% of the world’s population and 26% of the world’s poor. EAP includes 24 countries, and three major sub-regions with significant heterogeneity - China, the Pacific, and East Asia.
According to Global Findex Report 2017, in EAP, the use of digital financial transactions grew even as account ownership stagnated. Today, 71 percent of adults have an account, little changed from 2014. An exception is Indonesia, where the share with an account rose by 13 percentage points to 49 percent.
Gender inequality is low: men and women are equally likely to have an account in Cambodia, Indonesia, Myanmar, and Vietnam.
Digital financial transactions have accelerated especially in China, where the share of account owners using the internet to pay bills or buy things more than doubled—to 57 percent.
Digital technology could be leveraged to further increase account use: 405 million account owners in the region pay utility bills in cash, though 95 percent of them have a mobile phone.