Users of various mobile payment apps in Indonesia in 2020, with forecasts to 2025
the CAGR for online shopping in Indonesia is to be over 10 percent during this timeframe. Digital payment app Ovo - used predominantly for online food and offline payments at street food merchants - is expected to be one of the main benefactors of this development, if only because Singapore superapp Grab had taken a majority ownership in Ovo in October 2021. ShopeePay was also a popular payment app, as it is integrated within e-commerce platform Shopee and often has promotions or cashback deals.
The users base of several e-wallets in Indonesia is forecast to more than triple between 2020 and 2025, as online shopping is set to grow in Southeast Asia. Indeed, Statista estimates that