Boku, the global network for localized payment solutions, announced Wednesday the launch of its Innovation Hub in Singapore.

The firm said in a statement that the hub includes a dedicated team focused on building new payment capabilities that solve merchants’ cross-border money movement challenges.

With global payments projected to reach approximately US $290 trillion by 2030, Boku said the firm is prioritizing solutions that remove friction for global merchants operating across borders – including real-time foreign exchange (FX) and payout capabilities, and the application of artificial intelligence (AI) and blockchain technologies within financial services.

It is noted as consumers continue to shift away from cards, local payment methods (LPMs) are reshaping global commerce.

According to Boku research conducted with Juniper Research, LPMs surpassed traditional card payments in 2025 and are projected to account for 59 percent of global e‑commerce transactions by 2028.

This shift expands merchants’ reach but also increases complexity across hundreds of local systems, regulatory frameworks, and settlement processes.

“Cross-border payments remain one of the most persistent friction points for digital merchants operating across multiple markets,” said Yi Hahn Chin, Head of Boku’s Innovation Hub.

“By working closely with merchants and regional partners in Singapore, our team can stay close to evolving market needs and accelerate our response with new capabilities,

“We’re focused on building deeper partnerships with merchants to shape the next generation of payment solutions that improve commercial outcomes,” he added.

Boku selected Singapore for its deep fintech talent, forward-looking regulatory environment, and proximity to Asia-Pacific’s most innovative payment ecosystems.

The region pioneered mobile-first payment adoption with platforms including WeChat Pay, Alipay, GCash, and PayPay collectively serving billions of users.

From Singapore, the Innovation Hub will collaborate with regional fintechs and merchants to design, prototype, and validate capabilities that reduce cross‑border complexity and expand acceptance.

“Merchants don’t just need more payment methods – they need payment infrastructure that reduces complexity while expanding reach,” said Stuart Neal, Chief Executive Officer of Boku.

“Payments have now moved beyond plastic, and the Innovation Hub lets us reflect that reality by prototyping against real merchant requirements, pressure‑testing solutions in live markets, and accelerating the deployment of capabilities that directly impact the bottom line,

“Embedding our team in Singapore brings us closer to Asia Pacific (APAC) customers and partners, which is central to Boku’s growth,” he added.

Boku currently operates a network of 200+ Local Payment Methods, reaching more than 7 billion consumer accounts across 60+ countries and processing transactions for over 100 million monthly active users.

Digital wallets and account-to-account payment methods now represent the majority of the company’s transaction growth.

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