Digital Payment Needs are the Main Factor Driving Indonesian Use of E-Wallets

According to Boku Inc.'s "Mobile Wallets Report 2021," 73% of Indonesians use digital wallets (e-wallets) because they need online payment methods. This percentage is the highest compared to other reasons Indonesians use e-wallets.

Sixty-nine percent of respondents cited cashback/discounts from e-wallet providers as a reason for using digital wallets. Sixty-one percent of respondents used e-wallets to try new technology.

Furthermore, 57% of respondents used e-wallets to obtain cashback/discounts from specific retailers. Fifty-three percent of respondents used e-wallets to stop using cash.

In addition, 42% of respondents used e-wallets because they were recommended by friends. Thirty-five percent of respondents were motivated to use digital wallets due to advertisements from e-wallet providers, and 26% due to bank advertisements.

The report states that the value of e-wallet transactions in Indonesia reached US$28 billion in 2020. Meanwhile, the volume of e-wallet transactions reached 1.7 billion.

The total number of e-wallet users in Indonesia was recorded at 63.6 million. This number is predicted to reach 202 million users by 2025.

Boku Inc., in collaboration with Juniper Research, conducted this survey with over 5,000 e-wallet users across Brazil, India, Indonesia, Japan, and Russia in April and May 2021. The survey's margin of error is ±3% with a 95% confidence level.