The users base of several e-wallets in Indonesia is forecast to more than triple between 2020 and 2025, as online shopping is set to grow in Southeast Asia. Indeed, Statista estimates that the CAGR for online shopping in Indonesia is to be over 10 percent during this timeframe. 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 superapp Grab had taken a majority ownership in Ovo in October 2021. ShopeePay was also a popular payment app, as it is integrated within e-commerce platform Shopee and often has promotions or cashback deals.
Number of users of selected mobile wallets in Indonesia in 2020, with forecasts from 2021 to 2025
(in millions)
The source does not provide any information regarding consumers using more than one app at the same time. It may, therefore, be that the total users of all apps combined is higher than the country's population
Supplementary notes
The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."
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Statista estimates. (October 21, 2021). Number of users of selected mobile wallets in Indonesia in 2020, with forecasts from 2021 to 2025 (in millions) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1271296/mobile-wallet-user-forecast-in-indonesia/
Statista estimates. "Number of users of selected mobile wallets in Indonesia in 2020, with forecasts from 2021 to 2025 (in millions)." Chart. October 21, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1271296/mobile-wallet-user-forecast-in-indonesia/
Statista estimates. (2021). Number of users of selected mobile wallets in Indonesia in 2020, with forecasts from 2021 to 2025 (in millions). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1271296/mobile-wallet-user-forecast-in-indonesia/
Statista estimates. "Number of Users of Selected Mobile Wallets in Indonesia in 2020, with Forecasts from 2021 to 2025 (in Millions)." Statista, Statista Inc., 21 Oct 2021, https://www.statista.com/statistics/1271296/mobile-wallet-user-forecast-in-indonesia/
Statista estimates, Number of users of selected mobile wallets in Indonesia in 2020, with forecasts from 2021 to 2025 (in millions) Statista, https://www.statista.com/statistics/1271296/mobile-wallet-user-forecast-in-indonesia/ (last visited November 21, 2024)
Number of users of selected mobile wallets in Indonesia in 2020, with forecasts from 2021 to 2025 (in millions) [Graph], Statista estimates, October 21, 2021. [Online]. Available: https://www.statista.com/statistics/1271296/mobile-wallet-user-forecast-in-indonesia/
