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Digital payments on the rise in Indonesia, with GoPay, OVO top performers

Thursday 28 November 2019 13:09 CET | News

In Indonesia, digital payments are the most popular type of financial technology (fintech) service, followed by investment and pay-later services, Fintech Report 2019 has found.

The study revealed that 82.7% of Indonesians are familiar with digital wallet platforms, with 62.4% aware of digital investment and 56.7% of pay-later services. Only 21.5% of Indonesians are aware of P2P lending, which is regarded by many as the driver of financial inclusion.

Moreover, the study, which involved 1,500 respondents nationwide, found that GoPay outperforms OVO in terms of digital payment use, although awareness of OVO was higher than that of GoPay, according to The Jakarta Post.

As much as 99.5% respondents are aware of payment app OVO, slightly higher than the 98.5% who are aware of GoPay. However, 83.3% of respondents use GoPay, compared with 81.4% who use OVO.
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Keywords: Fintech, payment, GoPay OVO, P2P lending, bank, Asia
Categories: Banking & Fintech | Payments General
Countries: Asia
This article is part of category

Banking & Fintech