Canva teams with Boku to boost payment options in Asia, Europe

Boku has entered a partnership with Canva to provide localised payment methods, enabling Canva to extend its reach into markets across Asia and Europe.

The agreement centres on increasing access to Canva's platform in regions where credit card usage is limited, utilising Boku's expertise in non-card payment solutions such as digital wallets, direct carrier billing, and real-time payments. Boku's network aims to provide more inclusive options for users who are underserved by traditional banking infrastructure.

Market reach

Research conducted by Juniper and commissioned by Boku indicates that only 25% of eCommerce checkouts in Vietnam currently use credit cards, with projections suggesting this will fall to 18% by 2028. Through the integration of local payment methods, Canva will be able to access the remaining 75% of the market in Vietnam that relies on alternative options.

Localised payment methods (LPMs) are estimated to account for 60% of the global eCommerce market, valued at USD $11.4 trillion, by 2029. The rising prominence of LPMs underpins Boku's strategy to work with global brands who are aiming to offer convenient payment options tailored to local consumer preferences.

Launch in Vietnam

The collaboration's initial rollout has included the integration of MoMo, a leading digital wallet in Vietnam, to facilitate transactions for Canva's users. This move forms part of Canva's broader effort to address the varied payment needs of users in fast-growing digital economies.

"The launch of MoMo in Vietnam is a key milestone in our partnership with Boku as we continue to expand access to Canva in fast-growing markets where users' access to banking and payment cards may be limited. By enabling a trusted local payment method, we're making it even easier for more people in Vietnam to unlock their creativity and benefit from Canva's tools. Boku's deep expertise in mobile payments ensures we can meet users where they are, with seamless, accessible options. We're excited to see how this empowers more creators, entrepreneurs, and businesses across Vietnam to design with Canva," said Elle Liu, country lead for Vietnam.

Canva, a subscription-based SaaS platform, has structured its global payment strategy around inclusivity, ensuring more people can access its services regardless of their banking situation. Boku's platform facilitates this by identifying suitable local payment instruments and integrating them within Canva's ecosystem. The companies have also announced plans for further integrations and improvements aiming to enhance user accessibility in 2025.

Payment landscape

Boku's Chief Executive Officer, Stuart Neal, commented on the strategic significance of the partnership. He stated, "We are delighted to partner with Canva and help broaden access to their visual communications platform by providing more payment choice for people across Asia. Local Payments are now the world's preferred way to pay. This partnership highlights how the world's best loved platforms can reach more end-users by giving people the freedom to subscribe and pay the way they want, wherever they are."

As global consumer habits continue shifting towards digital and mobile-first payment methods, research from Juniper Research highlights that LPMs appear set to represent 59% of eCommerce transactions by value in 2028, up from 49% in 2023. This trend marks the first time LPMs are projected to account for a majority of the total transaction value online.

Boku's support of companies such as Meta, Amazon, Tencent, Spotify, Netflix, and Microsoft underscores its experience in facilitating digital payments for international brands, providing an ecosystem designed for scalability in local markets.

The partnership between Canva and Boku is aimed at providing additional payment freedom to consumers in Asia initially, with future plans to expand into the European market. Both companies have indicated that continued collaboration will focus on optimising the payment experience and improving accessibility for Canva's users around the world.