Jon Huntsman (2nd from left), Vice Chairman & President, Strategic Growth at Mastercard, Tan Sri Nazir Razak (3rd from left), Chairman of ASEAN Business Advisory Council (ABAC) Malaysia, Safdar Khan (1st from left), Division President, Southeast Asia, Mastercard, and Jukhee Hong (1st from right), Executive Director, ASEAN Business Advisory Council (ABAC) Malaysia at the signing ceremony to host the Mastercard ASEAN Inclusive Growth Summit across Southeast Asia over the next three years.
The Mastercard Center for Inclusive Growth has joined forces with the ASEAN Business Advisory Council to host the first-ever Mastercard ASEAN Inclusive Growth Summit in Kuala Lumpur on October 24, 2025—a high-level gathering that promises to shape the future of inclusive prosperity in Southeast Asia. This event marks the beginning of a three-year series of summits across the region.
The collaboration signals Mastercard’s deepened commitment to fueling sustainable economic growth, particularly for consumers, small businesses, and underserved communities in Asia-Pacific. Inspired by the success of Mastercard’s Global Inclusive Growth Summit, this ASEAN-focused platform aims to spark innovative ideas, foster East-West collaboration, and unlock opportunities for inclusive prosperity across the region.
“This collaboration with Mastercard sets the stage for a long-term platform to advance inclusive economic growth in ASEAN,” said Tan Sri Nazir Razak, Chairman of the ASEAN Business Advisory Council. “The Summit creates space for meaningful dialogue and collaboration, where regional challenges can be addressed through practical, locally relevant solutions.”
Jon Huntsman, Vice Chairman and President for Strategic Growth at Mastercard, emphasized the importance of this moment for Southeast Asia: “Growth must be paired with security, inclusion, and access. As the region faces economic fragmentation and digital disruption, this Summit is about creating opportunities so everyone can benefit from the digital economy.”
A region at a turning point
ASEAN stands at the forefront of a major economic shift. By 2035, the region’s middle class is expected to surge to 450 million people—more than half its population—driving consumption and new growth opportunities. At the same time, Southeast Asia’s digital economy is projected to more than double, reaching $560 billion in gross merchandise value by 2030.
With a young, digital-first population and rapidly expanding digital infrastructure, the challenge now is ensuring this growth remains inclusive and sustainable. The Summit aims to address exactly that—by convening policymakers, business pioneers, and development leaders around solutions for small enterprises, digital innovation, and resilient economic systems.
Mastercard’s ongoing efforts in ASEAN
The Summit builds on Mastercard’s ongoing initiatives in the region:
- Empowering Small Businesses – With MSMEs making up 97% of businesses in ASEAN, Mastercard’s Strive programs in Malaysia and Indonesia are designed to digitally upskill and support 400,000 MSMEs. A partnership with the Asian Development Bank aims to unlock up to $1 billion in credit for small enterprises, half of it earmarked for women-led or climate-focused businesses.
- Strengthening Cybersecurity – Mastercard works with the ASEAN Foundation, UNDP, and the Global Anti-Scam Alliance to bolster cybersecurity knowledge and resilience among SMEs and public sector entities, ensuring the digital economy remains secure.
- Boosting Tourism – Through collaborations with tourism boards, including Tourism Malaysia, Mastercard is helping digitize travel experiences, attract inbound visitors, and create ripple effects for local businesses, particularly ahead of Visit Malaysia 2026.
- Expanding Digital Payments – Mastercard continues to drive adoption of contactless and real-time payment systems across the region, from open-loop transit payments in the Philippines and Vietnam to real-time platforms like Thailand’s PromptPay and the Philippines’ InstaPay. Innovative solutions like Tap on Phone are also making digital acceptance accessible even to the smallest merchants.
Looking Ahead
The inaugural Mastercard ASEAN Inclusive Growth Summit will set the tone for future editions in 2026 and 2027, offering a long-term platform for dialogue, partnership, and action.
More than just a conference, the Summit represents a shared commitment: ensuring that Southeast Asia’s next chapter of growth benefits not just the few, but the many.
For more details, visit: Mastercard ASEAN Inclusive Growth Summit.