E-Wallets: Indonesia's Most Popular Digital Payment Method for Online Shopping
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There are various payment methods available for online shopping offered by e-commerce platforms. These range from cash on delivery (COD), bank transfers, payments at supermarkets, e-wallets, to the more flexible PayLater option.
Of these numerous payment methods, which is the most popular among consumers?
Kredivo, in collaboration with the Katadata Insight Center (KIC), conducted a survey titled "Indonesian e-Commerce Consumer Behavior Report 2023." This report highlights trends in consumer payment behavior for online shopping.
The results show that e-wallet payments are the most popular method, chosen by 84.3% of respondents.
This percentage has significantly increased in 2023 compared to the previous year (year-on-year/YoY), which saw 60.9% in 2022.
Cash on delivery (COD) payments remain widely used by respondents over the past year. Despite the variety of digital payment options, 61.4% of respondents still opt for this method.
Bank transfers or virtual accounts rank third as the most frequently used digital payment method by respondents, at 47.8%.
PayLater follows with 45.9%. This digital payment method experienced the fastest growth among other payment methods, increasing by 64.3% YoY from 28.2% in the previous period.
"The popularity of PayLater compared to credit cards is due to its easier application process, making it more accessible to the public," wrote Kredivo and KIC in their report.
Meanwhile, digital payments using debit and credit cards are at the bottom, as shown in the graph.
This survey involved 9,239 respondents, comprising 3,656 general respondents and 5,583 Kredivo users spread across Indonesia.
Data collection was conducted from March 18-31, 2023, using an online survey method.
(Also read: [Pulsa and Voucher are the Most Popular Products Purchased by Consumers on E-Commerce](https://databoks.katadata.co.id/datapublish/2023/06/16/pulsa-dan-voucher-jadi-produk-yang-paling-banyak-dibeli-konsumen-di-e-commerce))
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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