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Majority of Indonesians ready to go cashless: Survey
One of the driving forces behind the cashless payments trend is the central bank's effort to provide the infrastructure, such as through QRIS and BI-FAST.
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Cashless tips: Street musicians in South Jakarta accept donations via the QRIS payment system in partnership with e-wallet provider Go-Pay in July 2021. (JP/Courtesy of Institut Musik Jalanan)
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ost Indonesians are ready to go cashless, embracing digital payment methods because they offer simplicity and security, a survey found.
According to the latest Consumer Payment Attitudes Study from global payment giant Visa, around 67 percent of the country's population is prepared to ditch cash.
The survey, for which around 1,000 consumers in Indonesia were queried last year, shows the trend is dominated by the younger generation, Generation Z, followed by Generation Y and the affluent segment.
It shows mobile wallets and QR codes have become the most popular payment methods in the country with a usage rate of 93 percent. Their usage is driven by purchases of ride-hailing services, entertainment, retail purchases and the payment of bills.
Following mobile wallets and QR codes, the next most-used payment method is credit and debit cards with a usage rate of 80 percent.
"We see this [trend] as an opportunity to increase partnerships with all stakeholders to facilitate consumers in using digital payments," Visa Indonesia president director Riko Abdurrahman said at a press conference on Monday, as quoted by kompas.com.
The rise in cashless payment methods corresponds to a dip in the usage of cash from 87 percent in 2021 to 84 percent last year, according to the survey.
