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Indonesians favor e-wallet over cash as GoPay continues its dominance: survey

Latest study found that the majority of Indonesians use electronic wallet (e-wallet) more often than cash and it also showed that GoPay is currently leading the sector, followed by OVO, Dana and ShopeePay.

Deni Ghifari (The Jakarta Post)
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Jakarta
Mon, November 28, 2022

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Indonesians favor e-wallet over cash as GoPay continues its dominance: survey GoPay country’s most-used form of e-money: Survey

T

he latest study found that the majority of Indonesians use electronic wallet (e-wallet) more often than cash, with GoPay currently leading the sector, followed by OVO, Dana and ShopeePay.

Entitled “Consistency That Leads: 2023 E-Wallet Industry Outlook”, the study was done by InsightAsia, a private-research firm specializing in the Southeast Asian market, and published on Monday.

“Just being there is not enough. Just being a pioneer is not enough,” said InsightAsia research director Olivia Samosir on how to stay competitive in the industry.

The survey was conducted from Sept. 19-30 in the Greater Jakarta area; Bandung, West Java; Medan, North Sumatra; Makassar, South Sulawesi; Semarang, Central Java; Palembang, South Sumatra; and Pekanbaru, Riau, involving 1,300 respondents where each one of them could pick more than one option.

For various transactions, 71 percent of respondents surveyed are in favour of using e-wallet rather than cash (49 percent) or bank transfer (24 percent).

Twenty-1 percent of the respondents use QRIS (Indonesian standardized QR), 18 percent use Paylater, 17 percent use debit cards, while virtual-account transfer is used by 16 percent.

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The study also found that consumers have been consistently using GoPay for the past five years, as 71 percent of respondents said they had used the e-wallet platform, and 58 percent had done so within the past 3 months.

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