Most used in-store (POS) payment methods in Indonesia 2017-2023, with 2027 forecast
Cash was the most used in-store payment in Indonesia in 2023, although its market share decreased significantly since COVID-19. The source predicts that the dominant position of coins and paper money in physical stores is to decline in the future, with mobile wallets set to take over. Digital payment app Ovo - used predominantly for online food and offline payments at street food merchants - is expected to be one of the main benefactors of this development, if only because Singapore super app Grab had taken much of the ownership of Ovo in October 2021. ShopeePay was also a popular payment app in Indonesia, as it is integrated within e-commerce platform Shopee and often has promotions or cashback deals.