Indonesia Mobile Wallet Market Research Report By Mode of Payment (NFC, Remote Payment) and By Type (Proximity, Remote)-Forecast to 2035

Indonesia Mobile Wallet Market Overview

As per MRFR analysis, the Indonesia Mobile Wallet Market Size was estimated at 58.51 (USD Million) in 2023.The Indonesia Mobile Wallet Market is expected to grow from 99.9(USD Million) in 2024 to 871.8 (USD Million) by 2035. The Indonesia Mobile Wallet Market CAGR (growth rate) is expected to be around 21.768% during the forecast period (2025 - 2035).

Key Indonesia Mobile Wallet Market Trends Highlighted

The market for mobile wallets in Indonesia is expanding significantly due to the country's growing internet access and smartphone penetration. The government's efforts to promote a cashless society are in line with the worldwide movement toward electronic payments.

In order to promote a competitive environment, initiatives like the National Payment Gateway (GPN) seek to improve interoperability among different payment platforms. Furthermore, mobile wallets are becoming more and more popular among Indonesia's tech-savvy youth, who are a major force behind the country's market growth.

Many customers find the ease of using mobile wallets for bill payment, shopping, and money transfers to be enticing, which promotes their use even more. Furthermore, Indonesia's mobile wallet market offers a plethora of options for exploration. For example, integrating mobile wallets with e-commerce platforms can improve consumer experiences and expedite transactions.

Businesses looking to satisfy customer demand while accommodating payment preferences can benefit from this integration. Furthermore, mobile wallets have a great chance to take off and improve financial inclusion if digital financial services are extended into rural regions, where cash usage is more common. A number of developments have surfaced in the Indonesian mobile wallet market in recent years.

As worries about online fraud grow, attention is shifting to security features like biometric authentication. Additionally, mobile wallets are becoming more and more popular for their loyalty programs and promotional offers, which lure users in with extra value for their purchases.

The regional variations in consumer behavior are particularly significant because certain regions of Indonesia have distinct payment preferences and usage patterns that call for customized strategies from wallet providers. Overall, as technology advances and customer preferences change toward digital solutions, the Indonesian mobile wallet sector appears to have a bright future.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Indonesia Mobile Wallet Market Drivers

Increasing Smartphone Penetration

The surge in smartphone penetration in Indonesia has been a significant catalyst for the Indonesia Mobile Wallet Market. As of 2023, smartphone penetration in Indonesia is estimated to exceed 75%, with projections indicating that this number could rise to over 85% by 2025, according to data from the Indonesian Ministry of Communication and Information Technology.

This rapid adoption of smartphones enables a growing segment of the population to access mobile wallet services easily. Major players like Gojek and OVO have capitalized on this trend by integrating payment solutions directly into their apps, thereby enhancing user engagement and accessibility.

In addition, smartphone usage facilitates internet access which is essential for mobile wallet transactions, fuelling overall growth in the mobile wallet market in Indonesia.

Government Initiatives Supporting Digital Payments

The Indonesian government has shown strong support for digital payment solutions as part of its national financial inclusion strategy. The Bank Indonesia's regulations aiming to promote non-cash transactions have propelled the growth of the Indonesia Mobile Wallet Market.

Recent statistics show that digital transaction values in Indonesia have increased significantly, with a reported 40% growth year-on-year as of early 2023. This regulatory environment has encouraged numerous startups and established companies, such as DANA and LinkAja, to innovate and expand their services in the mobile wallet space, meeting both consumer and business needs.

The government's push for a cashless economy aims to incorporate at least 75% of Indonesia's population into the digital financial ecosystem by 2025.

Rising Adoption of E-Commerce

The burgeoning e-commerce sector in Indonesia significantly drives the Indonesia Mobile Wallet Market. Reports indicate that Indonesia has become one of the largest e-commerce markets in Southeast Asia, with revenue projected to reach USD 53 billion by 2025. This exponential growth in e-commerce is closely tied to the increasing utilization of mobile wallets for transactions.

E-commerce giants like Tokopedia and Bukalapak have integrated mobile wallet solutions, making it easier for consumers to make purchases seamlessly through their platforms. The convenience and security associated with mobile wallets further encourage users to embrace this payment method, thus fostering robust overall market growth.

Indonesia Mobile Wallet Market Segment Insights

Mobile Wallet Market Mode of Payment Insights

The Mode of Payment segment within the Indonesia Mobile Wallet Market is characterized by a variety of innovative payment methods that are reshaping how consumers conduct transactions. This segment includes advanced technologies such as Near Field Communication (NFC) and Remote Payment, which are playing crucial roles in enhancing convenience and security for users.

NFC stands as a significant method, allowing users to make swift, contactless transactions by simply tapping their devices against enabled payment terminals.

With Indonesia witnessing a surge in smartphone penetration and an increase in merchant adoption of NFC technologies, this method is gaining traction. It is particularly favored in urban areas, where quick payment solutions align with the fast-paced lifestyle of consumers.

Remote Payment, on the other hand, offers a different approach, empowering users to make payments without the need for physical contact with the point of sale. This method has become increasingly important in the context of online shopping and services, reflecting shifting consumer behavior towards e-commerce, especially during and after the pandemic.

The rise in digital transactions is supported by a growing trust in mobile services and an urgent need for contactless solutions, which has accelerated the adoption of Remote Payments. Indonesian consumers are increasingly turning to mobile wallets for utility payments, food ordering, and ride-hailing, showcasing the versatility and efficiency these payment methods bring.

Furthermore, both NFC and Remote Payment are benefiting from the expanding infrastructure and initiatives put forth by the Indonesian government to boost financial inclusion and promote the digital economy.

Programs encouraging cashless transactions among various demographics highlight the government's commitment to a modern, accessible financial ecosystem. As the Indonesia Mobile Wallet Market continues to evolve, these payment modes are not just conveniences but essential components in the country's route towards a more digitized economy.

Insights into the Mode of Payment segment indicate that as consumer preferences shift, these payment solutions will only become more integral to everyday transactions, anchoring the growth of the market overall.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Mobile Wallet Market Type Insights

The Indonesia Mobile Wallet Market revenue is witnessing significant growth due to increased smartphone penetration and evolving consumer preferences. Among the various types of mobile wallet transactions, Proximity and Remote payment methods play crucial roles in shaping the market landscape.

Proximity payments, characterized by contactless transactions through Near Field Communication technology, are gaining traction in urban areas as consumers favor convenience and speed in their purchasing experiences. This rapid adoption is driven by the growing number of merchants supporting such transactions, aligning with Indonesia's push towards a cashless economy.

On the other hand, Remote payments enable consumers to transact online, leveraging mobile wallets for e-commerce and digital services, reflecting the changing shopping behavior in an increasingly digitized world. As more consumers in Indonesia embrace online shopping, the Remote segment is expected to thrive.

Additionally, both segments face opportunities and challenges, such as the need for robust security measures and education on digital payment options. The Indonesia Mobile Wallet Market data suggests a strong future as consumer confidence in digital transactions continues to evolve, driving market growth in the coming years.

Indonesia Mobile Wallet Market Key Players and Competitive Insights

The Indonesia Mobile Wallet Market has experienced significant growth driven by increasing smartphone penetration, a rise in internet accessibility, and changing consumer behaviors towards cashless transactions.

Various local and international players operate within this framework, each contributing to a rapidly evolving financial ecosystem. In a landscape characterized by fierce competition, mobile wallets are not just payment tools but increasingly enveloping services to facilitate day-to-day transactions, originating from the unique cultural and economic landscape that Indonesia offers.

Companies are leveraging innovative features, strategic collaborations, and a customer-centric approach to capture and retain user loyalty in this dynamic market.

In the context of the Indonesia Mobile Wallet Market, LinkAja has emerged as a significant player by focusing on a wide array of services designed to enhance the financial experiences of its users. The platform offers key products such as digital payments for merchants, transfer services, and QR code scanning capabilities.

LinkAja's presence is bolstered by strategic partnerships with various banks, telecom operators, and retail chains, effectively broadening its reach into various sectors. The company’s strengths lie in its robust technological infrastructure, which ensures secure transactions, alongside a focus on financial inclusion, targeting underserved populations within Indonesia.

Moreover, LinkAja has embarked on potential mergers and acquisitions that aim to expand its service portfolio and enhance competitive advantages in this burgeoning market, thereby reinforcing its alignment with the growing digital economy in Indonesia.

This foresight has positioned LinkAja as a formidable contender, capable of adapting to rapidly changing consumer demands and market conditions.

Key Companies in the Indonesia Mobile Wallet Market Include

• LinkAja
• Alipay
• GrabPay
• OVO
• ShopeePay
• WeChat Pay
• DANA
• GoPay

Indonesia Mobile Wallet Market Developments

The QRIS interoperability standard was fully implemented by Bank Indonesia in July 2023, allowing for smooth QR payments at more than 26 million businesses across the country using digital wallets such as GoPay, OVO, ShopeePay, DANA, and LinkAja. This solidified the country's unified infrastructure.

The widespread use of GoPay, OVO, ShopeePay, and DANA in e-commerce and in-store QR payments caused the total number of digital wallet transactions to surpass IDR 1,176 trillion by December 2023.

Regulators suggested combining OVO with DANA in September 2024 in an effort to challenge GoPay's hegemony; however, EMTEK, the owner of DANA, openly denied the merger rumors while promising to expand the ecosystem.

In the meantime, GoPay launched QRIS NFC tap-to-pay in March 2025, making it the first wallet to accept contactless QR payments through NFC at specific retailers. According to consumer reports from February 2025, people favored DANA for fee-free virtual account transfers, while GoPay was the preferred option for QRIS NFC and inexpensive top-ups.

Alipay and WeChat Pay, which are widely accepted in retail and airport settings, continued to serve incoming Chinese tourists in major Indonesian towns and transit hubs in 2025.

Collectively, these advancements show how infrastructure interoperability, contactless innovation, and legislative structuring of competition are driving the evolution of Indonesia's mobile wallet ecosystem, which is dominated by Chinese wallet firms, GoPay, OVO, ShopeePay, DANA, and LinkAja.

Indonesia Mobile Wallet Market Segmentation Insights

• Mobile Wallet Market Mode of Payment Outlook
  • NFC
  • Remote Payment
• Mobile Wallet Market Type Outlook
  • Proximity
  • Remote

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	58.51(USD Million)
MARKET SIZE 2024	99.9(USD Million)
MARKET SIZE 2035	871.8(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	21.768% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	WalletKu, LinkAja, Paytren, Alipay, AkuLaku, GrabPay, OVO, ShopeePay, Spinny, WeChat Pay, DANA, Jenius, Faspay, BCA Digital, GoPay
SEGMENTS COVERED	Mode of Payment, Type
KEY MARKET OPPORTUNITIES	Rising smartphone penetration, Expanding e-commerce growth, Increasing payment security demand, Financial inclusion initiatives, Government support for digital payments
KEY MARKET DYNAMICS	growing smartphone penetration, increasing internet accessibility, rising cashless transactions, supportive regulatory environment, diverse consumer payment preferences
COUNTRIES COVERED	Indonesia