Can ShopeePay Overtakes GoPay and OVO?

By Editorial Team 26/08/2020
Digital bank
Summary

Snapcart's latest research shows that the number of users and transactions on the ShopeePay platform had surpassed GoPay and OVO over the past three months. The growth in Shopee's financial technology (fintech) payment channel was the fastest during the corona pandemic. As many as 68 percent of the total 1,000 respondents used ShopeePay in the last three months. Meanwhile, OVO and GoPay were each used by 56 percent of users.

Moreover, 42 percent of respondents used DANA, while 19 percent used LinkAja. ShopeePay's transaction volume was also the highest, reaching 32 percent of the total e-wallets in Indonesia, followed by OVO (25 percent), GoPay (20 percent), DANA (16 percent), and LinkAja (8 percent). ShopeePay platform's transaction value was also the highest, reaching 34 percent of the total e-wallets. Meanwhile, OVO covered 25 percent of the total transaction, DANA 17 percent, GoPay 16 percent, and LinkAja at 9 percent.

Meanwhile, iPrice and App Annie's research shows that GoPay and OVO are still leading the payments fintech market in Indonesia in the second quarter. DANA and LinkAja followed in third and fourth positions.

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