Research shows how GoPay having 84% consumer satisfaction, followed by ShopeePay for 80%, and Dana for 75%. Despite of the fact that the majority of the respondents (61%) use 2 to 3 different e-wallets for various transactions both online and offline.
InsightAsia’s research also found a tendency of how digital wallet use has grown from a simple payment to financial management such as money transfer, transaction history, and paylater feature. There are 10 digital wallet usages, the largest is shopping at e-commerce, top-up credits for prepaid phones, followed by inside-platform money transfer, transaction history, bank transfer, food delivery, bill payment, off-line household payment and paylater.
Olivia Samosir added, ”This is interesting, it is as if digital companies which have both a digital wallet and an e-commerce are having their own bonus. They have the potential to become market leaders because they provide a complete and easy transaction experience, for example, GoTo which owns Tokopedia and GoPay within the same ecosystem.”
The pandemic had also helped the public to swift to engage in non cash transactions. Social distancing had also triggered the rise of non cash transactions. These turn electronic money into an even more important role.
The number of electronic money transaction is increasing rapidly up to 58,6% within the last year, and transaction volume increases to 37,49% with a monthly value of Rp35,1 trillion.
In conclusion, InsightAsia summarized that financial technology, such as e-wallet and QR code will continue to improve life quality by opening more access to numerous productive activities. The wider use of e-wallet and QR code will take the industry world into an entirely brand new level. Only brands able to provide the public’s fintech needs and maintain a good service as promised consistently will be able to win the future market.
The survey which was initiated during the National Fintech Month involves 1300 respondents in 7 major cities in Indonesia including Jabodetabek, Bandung, Medan, Makassar, Semarang, Palembang and Pekanbaru, carried out from 19-30 September 2022.
About InsightAsia
PT InsightAsia Research Group Indonesia (InsightAsia – The Asia Market Research Specialist) is a research company established in 1997 with more than 120 expert researchers in Indonesia, Singapore, Thailand, Malaysia, Philippines, Vietnam and China. For more than 24 years, InsightAsia has helped hundreds of companies develop their businesses with data driven decisions based on market research.
Website: https://insightasia.com
