In this digital era, the volume of financial management instruments is increasing in Indonesia. Banking and/or non-banking institutions have issued various innovations to help the public manage their finances more efficiently. The presence of an e-wallet is a proof of its implementation.
Populix, a well-known consumer survey institution, said that Indonesia has been a ripe market for digital financial services due to its largely unbanked population and steady financial inclusion. They did a survey from May 20 to May 25, 2022, to 1,000 respondents by online platform to learn more about Indonesians’ opinion, habits and preference toward digital financial services, especially banking and e-wallet apps.
The survey result
- Gopay (88%)
Gopay is a digital wallet that initially was used to pay for all Gojek services. It was developed in 2016, six years after Gojek was founded. However, it now has become one of the official payments at most kiosks in Indonesia. Some of Gopay’s distinctive features include Gopay Diary, GoTagihan, joint ventures, Paylater, etc.
- DANA (83%)
DANA was established in 2018 and has three main pillars in its marketing, including trusted (it guarantees 100% security in user transactions), friendly (open platform to properly connect users with business actors), and accessible (easy to access cashless payments).
- OVO (79%)
Since September 2017, OVO has continued to grow from year to year. OVO has several other services such as loans, investments, and insurance. OVO also collaborates with online transportation provider companies, Tokopedia (in 2019) and Grab (from 2021 until now).
- ShopeePay (76%)
ShopeePay, as a digital wallet affiliated with marketplace Shopee, has several reliable features, including payment with a QR code, paylater, filling in balances and transferring to a bank free of admin fees, to payments that are guaranteed security.
- LinkAja (30%)
The service belongs to state-owned cellular telecommunication provider PT PT Telekomunikasi Selular (Telkomsel) Tbk. LinkAja is a new name that was launched in June 2019 as a replacement for applications under the patronage of Fintek Karya Nusantara. It has transfer services, payments, purchases, and sharing money with just a tap.
- i.Saku (7%)
Officially holding a license from Bank Indonesia since 2017, i.Saku has several services including top-up balances, paying kiosks, withdrawing balances, and transferring with a maximum balance of up to 10 million rupiah.
- OCTO Mobile by CIMB Niaga (5%)
OCTO Mobile was launched in 2020, after previously being named Go Mobile (2012) and The New Go Mobile (2017) with several banking activities including cashless transactions, credit cards, mutual fund investments, and sharia savings.
- DOKU (4%)
Doku claims to have more than 150,000 business partners and 3 million users since 13 years ago until now. Doku’s main services include payments, transfers, QRIS, and e-commerce.
- Sakuku (3%)
Sakuku is a digital wallet issued by BCA with features for online and offline transactions, credit top-ups, vouchers, money transfers, bill sharing, and cash withdrawals at BCA ATMs.
- JakOne Mobile (2%)
Made by Jakarta’s Provincial Owned Enterprises (BUMD), Bank DKI, JakOne Mobile provides financial services that can be used at kiosks that work with Bank DKI.
