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ShopeePay most popular e-wallet in October, survey says
According to a survey conducted by market research firm Ipsos in October, ShopeePay's user penetration was 48 percent, exceeding other e-wallets, including OVO (46 percent), GoPay (35 percent), DANA (26 percent) and LinkAja (16 percent).
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Illustration of e-commerce platform Shopee. (Shutterstock.com/shutter_o/File)
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-wallet ShopeePay, an arm of e-commerce platform Shopee, remained the most popular e-wallet in the country in October, amid increased use of digital payment platforms during the COVID-19 crisis, a recent survey shows.
According to a survey conducted by market research firm Ipsos in October, ShopeePay's user penetration was 48 percent, exceeding other e-wallets, including OVO (46 percent), GoPay (35 percent), DANA (26 percent) and LinkAja (16 percent).
“Users [of the e-wallet] have said ShopeePay makes their online shopping experience easier and that they have the most discounts,” said Ipsos Indonesia associate project director Indah Tanip during a press briefing on Wednesday.
A separate survey carried out earlier this year by MarkPlus shows that ShopeePay captured the biggest slice of the digital wallet market from July to September, at 26 percent, outperforming other e-wallets.
Read also: ShopeePay outperforms competitors amid online shopping boom: Survey
However, Indah added that in terms of user awareness, OVO and GoPay still led the race with 84 percent and 82 percent, respectively, followed by ShopeePay at 79 percent, DANA at 77 percent and LinkAja lagging behind at 62 percent.
Established in 2018, ShopeePay is built within Shopee’s platform as a payment solution alongside bank transfer, credit card and virtual bank account. Its user base grew as the e-commerce platform saw a 130 percent increase in transactions in the second quarter from the same period last year to 260 million transactions, company data show.
Although relatively new, Indah said the digital wallet had the highest user loyalty at 94 percent, compared to around 80 percent for other modes of payment. The platform also has a high net promoter score, which translates to users actively recommending the platform to other people.
Indah went on to say that even though ShopeePay offered many discounts, it was only the fourth reason why consumers chose the e-wallet platform in August. According to the Ipsos survey, the top reasons were the application interface as well as the ease and quick top-up process.
She said offering discounts was a good way to build brand recognition, but since Indonesian people were already aware of e-wallets, building customer satisfaction was more important than discounts in terms of user retention.
“Seeing ShopeePay's success, we believe that other e-commerce firms can create their own e-wallet platform but competing with existing players would be difficult,” Indah said.
The MarkPlus survey in September also showed that ShopeePay users spent the most money among other e-wallet platforms in the country, attributing its success to Shopee's intense marketing and discounts. (eyc)
