Indonesia
A fast-growing payments market powered by digital wallets and QR innovation
Overview
Indonesia’s payments ecosystem is undergoing rapid transformation, driven by the government’s push for financial inclusion, a booming e-commerce sector, and the rise of mobile-first consumers. While cash remains prevalent in rural areas, digital payment adoption is soaring across cities and younger demographics.
The introduction of QRIS (Quick Response Code Indonesian Standard) by Bank Indonesia has unified QR payments across wallets and banks, enabling interoperability and seamless transactions nationwide. Major players such as GoPay, OVO, DANA, and ShopeePay dominate the digital wallet space, supported by banks and fintechs integrating payment services into everyday commerce
Key Characteristics
Explosive growth in QRIS-enabled mobile wallet payments
Expanding e-commerce and super-app ecosystems
Strong regulatory backing for financial inclusion and digitalization
High mobile penetration among a large, young population
Coexistence of cash, cards, and e-wallets across consumer segments
Supported Payment Methods
QRIS unified QR payments
Bank transfers (via BI-FAST, ATM networks)
Digital wallets: GoPay, OVO, DANA, ShopeePay
Credit and debit cards: Visa, Mastercard, JCB
Cash-on-delivery and convenience store payments remain common for online purchases
Key Providers
Leading providers in Indonesia include GoPay, OVO, DANA, ShopeePay, LinkAja, and major banks such as Bank Mandiri, BCA, and Bank BRI. International providers like Visa, Mastercard, and PayPal are active through local partnerships
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Regulation and Compliance
Indonesia’s payments industry is regulated by Bank Indonesia (BI) and the Financial Services Authority (OJK). The regulators oversee licensing, data protection, and consumer rights under frameworks like the National Non-Cash Movement (GNNT) and QRIS initiative. Payment service providers must comply with local ownership requirements and data localization laws
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Strengths / Differentiators
Unified QR payment system (QRIS) driving interoperability
Government-led digital inclusion initiatives
Rapid adoption of super-app and e-commerce payments
Vibrant fintech ecosystem with strong consumer engagement
Growing cross-border connectivity within ASEAN
Want to know more about payments in Indonesia?
Contact Bizz2Pay today to discuss your requirements or get introduced to the right Payment Provider covering the most popular payment methods offered in Indonesia
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