e-Commerce and Payments in Indonesia
Mobile e-commerce leads economic growth with young consumers.
Indonesia’s e-commerce market only accounts for a small portion of all retail sales. But the nation presents a huge opportunity for businesses to enter a growth market because of its youthful population.
Market Overview
-
Population
276.4 million
-
Online Population
212 million
-
Currency
IDR
-
e-Commerce Market Value
$45.28 billion
-
GDP
$1,385 billion
-
GDP per Capita
$5,016.64
Available Local Payment Method
Bank Sampoerna
Type
Virtual Account
Regions
Asia Pacific
Bank Sinarmas
Type
Virtual Account
Regions
Asia Pacific
BNI
Type
Virtual Account
Regions
Asia Pacific
BRI
Type
Virtual Account
Regions
Asia Pacific
CIMB Niaga
Type
Virtual Account
Regions
Asia Pacific
DANA
Type
e-Wallet
Regions
Asia Pacific
Link Aja
Type
e-Wallet
Regions
Asia Pacific
Mandiri Bank
Type
Virtual Account
Regions
Asia Pacific
OVO
Type
e-Wallet
Regions
Asia Pacific
Permata Bank
Type
e-Wallet
Regions
Asia Pacific
QRIS
Type
QR Code
Regions
Asia Pacific
Shopee Pay
Type
Virtual Account
Regions
Asia Pacific
Key Takeaways
- Indonesia’s economy is among the fastest-growing in the world, but much of its rapid growth has been dependent on the export of goods like clothing, cars, and electrical appliances. Although the nation’s digital economy is trying to catch up, it still poses special difficulties for foreign companies looking to tap into one of the world’s most rapidly expanding markets.
- Indonesia is a country with a population of about 6,000 people and a language diversity of about 580, two characteristics that can make digital sales and product fulfillment difficult. In Indonesia, where local online platforms currently attract the majority of consumer traffic, cross-border online shopping is the domain of a small percentage of consumers.
- Despite relatively low card penetration, Indonesian consumers prefer to use cards as a form of payment when they shop online.
