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.
Market share of cash, credit cards, and other payment methods at point of sale (POS) in Indonesia from 2017 to 2023, with a forecast for 2027
* The source changed its categories in 2021, see the "Details" tab for more information.
Supplementary notes
In 2022, the source stated it made two changes to the categories used in previous years. These include a combination of "credit cards" with "charge/deferred debit cards" and the split of BNPL from "POS financing" (which itself was added as a new category in 2020). The latter change was made to atone for the "growing importance of BNPL". This seems to have been reverted for "POS financing" in the 2023 report - which covered the figures for 2022.
The figures have been taken from several publications. No figures were available for 2018 as the source did not release any reports that year.
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Worldpay. (March 21, 2024). Market share of cash, credit cards, and other payment methods at point of sale (POS) in Indonesia from 2017 to 2023, with a forecast for 2027 [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/1296701/preferred-payment-methods-indonesia/
Worldpay. "Market share of cash, credit cards, and other payment methods at point of sale (POS) in Indonesia from 2017 to 2023, with a forecast for 2027." Chart. March 21, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/1296701/preferred-payment-methods-indonesia/
Worldpay. (2024). Market share of cash, credit cards, and other payment methods at point of sale (POS) in Indonesia from 2017 to 2023, with a forecast for 2027. Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/1296701/preferred-payment-methods-indonesia/
Worldpay. "Market Share of Cash, Credit Cards, and Other Payment Methods at Point of Sale (Pos) in Indonesia from 2017 to 2023, with a Forecast for 2027." Statista, Statista Inc., 21 Mar 2024, https://www.statista.com/statistics/1296701/preferred-payment-methods-indonesia/
Worldpay, Market share of cash, credit cards, and other payment methods at point of sale (POS) in Indonesia from 2017 to 2023, with a forecast for 2027 Statista, https://www.statista.com/statistics/1296701/preferred-payment-methods-indonesia/ (last visited October 31, 2024)
Market share of cash, credit cards, and other payment methods at point of sale (POS) in Indonesia from 2017 to 2023, with a forecast for 2027 [Graph], Worldpay, March 21, 2024. [Online]. Available: https://www.statista.com/statistics/1296701/preferred-payment-methods-indonesia/
