GoPay has become a payment method for many people, whether for paying transportation costs or buying daily necessities online. This cashless payment method, launched in April 2016, has become a lifestyle, especially in major cities with access to online transportation services like Gojek.
As reported by Bloomberg in a Morgan Stanley Research report, until early February 2019, GoPay had processed transactions worth US$6.3 billion, or approximately Rp 89 trillion at an exchange rate of Rp 14,200 per US dollar. This amount is significantly larger than transactions of e-money issued by banks.
GoPay's transactions were equivalent to 667% of e-money transactions issued by Bank Mandiri (Indomaret, e-Toll, Gas, and eMoney) totaling Rp 13.35 trillion in 2018. GoPay transactions reached 10,136% of the total e-money transactions of Bank BNI, valued at Rp 88 billion, and reached 2,203% of the total e-money transactions of Bank BCA, amounting to Rp 4.04 trillion.