E-wallet or electronic wallet is an electronic online service of payment which currently trending in Indonesia. Even Indonesian still popular using cash but the number of E-wallet users are striking than others.
Because E-wallet users only use their smartphone’s application to purchase any item at the store or digital market place. Moreover, E-wallet is set safer than cash payment or any conventional methods, it protected by password and provides security personal data. So, the user would not be worried if their money will steal by pickpocket.
So, how Indonesian interested in E-Wallet products? And what are the favorite ones? And for what payment Indonesian use it? Now let’s find the answers based on the survey that has been done by Licorice!
PERIOD: June 14, 2019 -December 14, 2019
RESPONDENTS: 250 of Indonesian males, 250 of Indonesian females, age 10-59.
Question: What type of payments do you usually use daily? (MA)
According to the survey, males and females in Indonesia still prefer using cash rather than E-wallet. But if we take look closer, the trend of using E-wallet for both males and females is higher than other types of payments. It is clear that E-wallet has a good chance to change cash payment methods for daily transactions in Indonesia soon!
As we know, E-wallet in Indonesia is not something new. Many types of E-wallets companies which compete with each other. As if never enough by only having one E-wallet. Some people in Indonesia usually have more than two E-wallet which installed on their smartphone. Look at the survey below:
Q: How many E-wallet application in your smartphone? (MA)
According to the survey result, majority of respondents have multiple E-wallet applications. In other words, only around 30% have one app, and 15% have none, rest of them, around 55%, use multiple applications. So, why Indonesian have multiple apps? because the reason is per each apps are offering the differences promotion for their users. So, Indonesian think one is never enough, then why not to have it more.
What for Indonesian Using E-wallet?
As we know above, E-wallet is very useful in the digital era like nowadays. It can make payments for groceries, online purchases, and transportation tickets, among others. So how about Indonesian? Take a look at the charts below:
Question: When do you make a payment using e-wallet? (MA)
Based on the survey, the first rank both male and female use E-wallet for shopping. At now, shopping is not only go the market or mall, but also in market place. Usually, E-wallet application is connected with them. So the user will simpler to enjoy the shopping not go anywhere but home with a smartphone.
Second rank, as we see above, both of the respondents stated online transportation like Gojek or Grab. In Indonesia, Gojek has its own E-wallet which called Go-Pay. Besides Grab works together with OVO. These two types are the way of Indonesian use the E-wallet for online transportation. Users have no think twice about the change because the payment is direct cut the balance, quick and simple right?
Define the reason why Indonesian think E-wallet is good for any transaction. The survey is already classified from the top till the minor thing why Indonesian like E-wallet. Look at the chart below:
Question: In your opinion, what is the advantages of using e-wallet compared to using cash? (MA)
Based on the survey above, being quick is the priority for users when using E-wallet. They don’t need to count the money for transaction. The only thing to do is scanning the barcode then input the pin, voila the payment has finished in one sec!
The second rank is many interesting offers for example promotion in some merchants, discount, cashback or any vouchers. The way how to treat the users will give them new experiences more than one application. So it is no doubt why Indonesian loves to use E-wallet.
Well, the third rank is no need to bring cash. For your information, especially for millennials, cash is so yesterday! They prefer to buy something with cards or E-wallet. So for any payment that provides cashless, young generation will choose it.
Finally, we should not argue more when E-wallet will be the future type of payment in Indonesia really soon. While for now, cash is still popular. On the other hand, using E-wallet will give you some advantages, for example, your payment will be done quicker than using cash because you do not need to think about change, and you will get many interesting offers like cashback or discounts.