Southeast Asia has undergone a rapid transformation in digital payments, driven by the burgeoning fintech industry and an e-commerce boom. The shift from traditional payment methods began with cashback and discount incentives, evolving to the widespread adoption of QR codes and e-wallets. This trend gained significant momentum during the COVID-19 pandemic and has sustained its growth trajectory since.
Emboldened by the growth, payment platforms have expanded their offerings to include buy now, pay later (BNPL) services and cash loans to boost sales and improve their bottom lines. This report examines the key digital payment platforms in Indonesia, their evolution, and the strategies they are deploying to drive growth and move towards profitability.
