As an important market is Southeast Asia, Indonesia increasingly relies on local payment methods for ecommerce and in-person transactions. This integration will help merchants enter the Indonesian market without requiring a local business entity.
For merchants, this integration simplifies payment acceptance while delivering advantages such as market reach through local payment methods, including e-wallets and bank transfers. The integration uses a single API that ensures quick onboarding, eliminating the need for technical work or local business setup.
It also offers payment support, as users can accept payments via Indonesia’s e-wallets, such as GoPay, OVO, DANA, LinkAja, and ShopeePay, and banks like BCA, Mandiri, BNI, and BRI. QRIS serves as a unified QR code standard, optimising payment acceptance across Indonesia’s e-wallets and banks. With this, merchants can reduce payment processing costs by up to 50% compared to traditional card schemes.
Valued at approximately USD 82 billion, Indonesia’s ecommerce market is one of the largest in Southeast Asia. The global coronavirus pandemic became a catalyst for the rapid growth of the market in the country. During this global health crisis, Indonesian consumers turned to online shopping to get products and services.
Ecommerce has expanded access to a wider range of goods and services for Indonesian consumers, including those in remote areas, while also increasing the customer base for businesses. Therefore, providing platforms to boost online retail is one of the most sought-after business opportunities in the country.
With the growing number of internet users and improved digital infrastructures, the outlook for the ecommerce market in Indonesia remains positive. Even though the market is still developing, its gross merchandise value is projected to reach approximately USD 160 billion by 2030.
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