Indonesian wallets squeeze cash and cards in e-commerce

Bank transfers fund most app balances whilst COD still represents 13% of checkout spending.

Digital wallets and account-to-account payments will overtake cash and credit card payments in Indonesia’s e-commerce market by 2030, as consumers primarily fund their wallets directly via bank accounts.

Digital wallets accounted for 42% of e-commerce transaction value in 2025, making them the most widely used online payment method, according to Worldpay’s Global Payments Report 2026.

Account-to-account payments represented 34%, followed by cash at 13%, credit cards at 5%, buy now, pay later services at 3% and other methods at 3%.

By 2030, digital wallets are forecast to hold a 43% share of e-commerce payments, whilst account-to-account payments are expected to rise to 38%. 

Cash is projected to fall to 10%, credit cards to 4% and other methods to 2%. The share of buy now, pay later payments is expected to remain at 3%.

Indonesia’s e-commerce market was valued at $84b in 2025 and is forecast to reach $136b by 2030, representing annual growth of 10%.

Cash remained the largest payment method at physical points of sale in 2025, accounting for 36% of transaction value. 

However, this was down from 77% in 2019. Account-to-account payments made up 23% of point-of-sale value, whilst digital wallets accounted for 22%. Debit cards represented 11%, credit cards 7% and other methods 2%.

By 2030, cash is forecast to fall to 24% of point-of-sale payments. 

Account-to-account payments are expected to rise to 32%, whilst digital wallets are projected to reach 26%. Debit cards are forecast to account for 10%, credit cards 6% and other methods 2%.

The point-of-sale market was valued at $270b in 2025 and is expected to grow to $337b by 2030, an annual growth rate of 5%.

The expansion of account-to-account payments has been supported by Bank Indonesia’s BI-FAST instant payment system and the QRIS national QR code standard. 

QRIS is also compatible with payment systems in markets including Thailand, Singapore, Malaysia and, more recently, China.

Indonesia had about 40 million merchants and 57 million users connected to BI-FAST and QRIS as of August 2025. 

Leading digital wallet providers include GoPay, DANA, ShopeePay and OVO. Cash on delivery still accounts for 13% of e-commerce payment value, one of the highest shares globally. 

Bank Indonesia is seeking to reduce cash dependence through BI-FAST, QRIS and its Indonesia Payment System Blueprint 2030.

In the card market, Mastercard held a 43% share in 2024, followed by Visa at 35%, Indonesia’s GPN network at 16% and other card schemes at 6%.