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Jakarta Post

Why Indonesia is the world’s next digital payments battleground

Snap and pay: A man scans a QR Code to make payment within the complex of Tarumanegara University in West Jakarta.(Courtesy of GoPay/-)
Kelvin Phua
PREMIUM
Singapore   ●   Mon, July 13 2020

The COVID-19 outbreak has seen the e-commerce sector surge. Despite economic uncertainty, consumers around the world are turning to the internet for the goods and services that they previously would have looked for in-store.

In Asia-Pacific, this has meant that some emerging markets have accelerated their adoption of digital services; the growth that was projected to take years has only taken months.

One notable example of this is Indonesia. According to a recent survey, Indonesia’s e-commerce sector is expecting 50 percent year-on-year growth with its value set to reach US$35 billion in 2020, up from $23 billion in 2019. What’s more, 30 percent of those surveyed were new to online marketplaces and 40 percent intend to keep...

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