ShopeePay, the e-wallet arm of e-commerce firm Shopee, will continue giving discounts and cash-back offers this year after remaining the country’s most popular e-wallet in January.

ShopeePay campaigns and growth marketing head Cindy Candiawan said that in 2021, the company would keep offering promotions such as up to 90 percent cash back for online purchases of games, food and beverages, among other items. 

“Our Deals Sekitarmu [Deals Around You] program can help users buy discount vouchers online that can be used for offline purchases at stores near the user,” she told The Jakarta Post on March 12.

Established in 2018, ShopeePay is housed within Shopee’s platform. However, Cindy said ShopeePay could also be used for investment, payment, transportation, retail and education fees, among other uses. 

“We are committed to encouraging financial inclusion and working with various players in the industry to add more useful use cases,” she added. 

According to a survey by market research firm NeuroSensum that took place from November 2020 to January of this year, ShopeePay had the highest user penetration at 68 percent, outperforming other e-wallets such as OVO (62 percent), DANA (54 percent), GoPay (53 percent) and LinkAja (23 percent).

ShopeePay users were also the most frequent users of e-wallets and the highest spenders in both online and offline commerce. 

The study noted that 42 percent of users thought ShopeePay gave out the most promotional offers, followed by OVO (25 percent), GoPay (16 percent), DANA (13 percent) and LinkAja (4 percent).

Neurosensum Indonesia research manager Tika Widyaningtyas said ShopeePay’s success was due to the platform’s smart user experience and interface, its simplicity of use and the boost of “appetizing promotions” for consumers.

“As a newcomer, ShopeePay rapidly became users’ favorite digital payment solution. This makes ShopeePay a strong contender among other e-wallets in the market,” she said in a statement on March 2. 

A 2020 survey conducted by market research firm Ipsos found that Shopee was the most popular e-wallet in October with 48 percent market penetration.

Read also: ShopeePay most popular e-wallet in October

The Ipsos study found that even though ShopeePay offered many discounts, they were only the fourth reason why consumers chose the e-wallet platform. The top reasons were the application interface and the ease and speed of topping up funds.

Digital payment has been rapidly adopted in the country during the COVID-19 pandemic. Bank Indonesia (BI) has forecast that Indonesia will record double-digit growth in digital transactions this year.

E-money is projected to grow by 32.3 percent year-on-year (yoy) to Rp 226 trillion (US$15.7 billion).

Meanwhile, the value of e-commerce transactions is expected to grow 33.2 percent to Rp 337 trillion this year, according to BI data.

Read also: Indonesia to see double-digit growth in digital transactions this year: BI

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