Boku Bets on Singapore to Reinvent Cross-Border Payments
Boku has chosen Singapore as the launchpad for its Innovation Hub, a strategic move designed to capture a share of the nearly $290 trillion global payments market.
Boku announced on Wednesday the opening of its Innovation Hub in Singapore, a dedicated centre tasked with building next-generation capabilities to help merchants navigate the growing challenges of international money movement. The firm was founded in 2008 and is headquartered in London with offices across North America, Asia-Pacific, Europe, and Latin America.
With global payments expected to swell to around $290 trillion by 2030, the company is targeting friction points in FX, payouts, and interoperability between digital wallets – areas now critical for businesses scaling across borders.
Local Payment Methods Take the Lead
Boku's new Singapore head, Yi Han Chin (Image: Boku)
The shift from cards to local payment methods (LPMs) is accelerating faster than many industry observers anticipated. Boku’s research with Juniper Research shows that LPMs overtook traditional card payments in 2025 and are projected to account for 59 percent of global ecommerce transaction volumes by 2028.
The Hub will be led by Yi Hahn Chin, a former Citibank executive with over 20 years’ experience in transaction banking and cross-border payment innovation, reinforcing Boku’s commitment to pairing global expertise with regional proximity. «Cross-border payments remain one of the most persistent friction points for digital merchants operating across multiple markets,» he said.
He noted that embedding the team in Singapore allows the company to work closely with merchants and partners to develop capabilities that respond directly to evolving market needs and improve commercial outcomes.
Singapore’s Strategic Edge
Boku selected Singapore for its deep fintech talent pool, regulatory clarity, and its central role at the heart of Asia-Pacific’s mobile-first payment landscape.
The region’s payment ecosystems – from WeChat Pay and Alipay to GCash and PayPay – collectively reach billions of users and have become global reference points for innovation. From its Singapore base, the Hub will work with fintechs and merchants to design and test solutions aimed at reducing cross-border complexity while expanding acceptance.
Prototyping Payments Beyond Plastic
«Merchants don’t just need more payment methods – they need payment infrastructure that reduces complexity while expanding reach,» said Boku CEO Stuart Neal.
He highlighted that payments have moved well beyond plastic cards, and that the Innovation Hub will allow Boku to build and pressure-test solutions in real markets with real partners. Locating the team in Singapore, he added, is central to strengthening relationships with APAC-based merchants and accelerating growth.
Network With Global Scale
Boku already operates more than 200 local payment methods, reaching over 7 billion consumer accounts in more than 60 countries. It processes transactions for over 100 million monthly active users, with digital wallets and account-to-account (A2A) payments representing the company’s strongest growth engines.
The new Singapore Hub signals Boku’s intention to move further up the value chain by not only connecting payment methods but also by enabling seamless, data-driven cross-border commerce.
