E-wallet ShopeePay, a relative newcomer to the market, has outperformed its rivals in the last three months as consumers splurge on online shopping during the COVID-19 pandemic, a survey shows.
According to a MarkPlus survey of 502 smartphone users, ShopeePay, an arm of e-commerce platform Shopee, captured 26 percent of the digital wallet market, outperforming e-wallets OVO (24 percent), GoPay (23 percent), DANA (19 percent) and LinkAja (8 percent).
“Respondents said ShopeePay offered more attractive discounts than other e-wallets. It was also considered the easiest to use,” MarkPlus high tech, property and consumer goods industry head Rhesa Dwi Prabowo said during an online press conference on Wednesday.
He added that most people used ShopeePay to shop online.
ShopeePay was established in 2018, later than its competitors GoPay and OVO, which have been in the market since 2014 and 2017, respectively.
The digital wallet is built within Shopee’s platform as a payment solution alongside bank transfer, credit card and virtual bank account. At the same time, Shopee saw a 130 percent increase in transactions in the second quarter from the same period last year to 260 million transactions.
Rhesa went on to say that ShopeePay’s popularity was also backed by intense marketing and the rise of e-commerce usage during the pandemic.
Read also: Shopee books 130 percent transaction growth in Q2 as consumers go online
The survey showed that people on average spend Rp 149,000 (US$10.12) per transaction with ShopeePay, while they spend Rp 134,000 on OVO, DANA and LinkAja and Rp 109,000 on GoPay.
The respondents used ShopeePay seven times per months on average compared to only five to six times monthly on other e-wallet platforms.
“We also found that ShopeePay is the most loved and recommended e-wallet in the country,” Rhesa said. “However, the survey found that people still trust OVO and GoPay more than ShopeePay.”
