High growth economies like Asia-Pacific, Middle East, Africa Figure 1 Digital payments adoption is highest in Asia-Pacific and Latin America (Growth Markets) are faster to adopt Digital payments are used widely in Asia-Pacific despite low internet adoption. new technologies compared to other regions. This kind Digital Payment Adoption (2016 - 2020) of rapid growth typically leads to (or comes from) diverse investments in technology - centered around new ways of working and setting new performance frontiers. Software adoption has been higher in the Asia-Pacific region as compared to North America and Europe due to prominent in-country software stacks, like, Japan has had its own versions ranging from ERP, supply chain, HR systems to cloud for a long time. As a result, companies in Asia-Pacific inherit country-specific software environments as they expand across the region. This is unlike North America and Europe where companies usually work with global enterprise software providers. The Asia-Pacific region has also leapfrogged ahead of North America and Europe in the adoption of digital native technologies such as digital payments, social commerce (social media-based e-commerce), digital banking and ride sharing services. For example, in 2020 digital payment adoption rates in Asia-Pacific stood at close to 50%, 1 compared to less than 25% in North America and Europe (Figure 1). Source: World Bank, The Global Findex Database 2021, June 2022 Note: The numbers represent percentage of respondents using mobile phone or internet to make payments at least once a month.