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Consumers prefer mobile banking, e-wallet for transactions: Populix survey

Tempo - July 6, 2022

Anwar Siswadi (Contributor), Jakarta – Research firm Populix has released its latest survey on consumers' preference for banking and e-wallet apps which found that 64 respondents own banking and financial services apps on their mobile devices.

They also found that 91 percent of respondents own mobile banking apps while 84 percent already have an e-wallet account, and 33 percent have installed digital banking apps.

According to Populix Co-Founder & CEO, Timothy Astandu, the acceleration of digital transformation occurring in recent years continues to have an impact on various industries, including the banking and financial sectors.

"This can also be seen from the increasing number of banking and financial service applications that are growing to answer various users' needs," he said in a written statement, Wednesday, July 6.

The survey also shows that mobile banking and e-wallet are still the two payment channels of choice for respondents of all ages, while digital banking is more popular among respondents who are adults.

Reasons such as practicality, time efficiency, and app ease of use are the main drivers respondents prefer mobile banking and digital banking. As for e-wallets, apart from practicality, respondents stated that they use this platform as it is an integrated service with e-commerce platforms, and offers cashback promos.

The Populix survey involved 637 respondents aged between 18-35 years of age that reside in major Indonesian cities such as Jakarta, Surabaya, Bandung, Medan, Semarang, and more.

The survey results also found that BCA Mobile became the main mobile banking application of choice for 60 percent of respondents, others used BRI Mobile (26%), Livin' by Mandiri (25%), and BNI mobile banking (23%). In the digital banking category, Bank Jago (46%) occupies the top position, followed by Neobank (40%) and Jenius (32%).

Meanwhile, in the e-wallet category, GoPay (88%) and Dana (83%) are the applications currently used by the majority of respondents, followed by OVO (79%) and ShopeePay (76%).

Source: https://en.tempo.co/read/1609230/consumers-prefer-mobile-banking-e-wallet-for-transactions-populix-surve