Home » Business » OVO Successfully Conquers GoPay, Becomes King of RI’s Digital Wallet

OVO Successfully Conquers GoPay, Becomes King of RI’s Digital Wallet

Jakarta, CNBC Indonesia – Competition for electronic money and digital wallets in the country is quite tight. The proof is that the payment system market has now shifted from the Gojek digital wallet, GoPay to OVO.

This was revealed in the presentation of Deputy Governor of Bank Indonesia Sugeng in a seminar entitled Public Discussion: The Role of Fintech in National Economic Recovery, which was held virtually, Monday (9/11/2020).

In the presentation, it was revealed that in 2019 OVO controlled 20% of the Indonesian digital payment system market. GoPay and Bank Mandiri each control 19% market share. The rest are DANA and BCA 10% each. There is no Shopeepay in the list of the most widely used payment instruments on the list.


Sugeng said that it is interesting that there is a shift from actors in the retail payment system in Indonesia. In 2015, banking was still quite dominant.

“But by the end of 2019 the role of non-banks had emerged, so the development was extraordinary,” he explained in the discussion.

Information alone, Bank Indonesia recorded that there were 5.226 billion electronic money transactions in Indonesia. The nominal value is IDR 145.17 trillion. BI also recorded 292.3 million electronic money in circulation.

[Gambas:Video CNBC]

(roy/dob)


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