ShopeePay Beats GoPay and OVO during the Pandemic

Two surveys show that the number of users and transactions on the ShopeePay platform surpassed GoPay made by Gojek and OVO during the corona pandemic. Both types of research were carried out by Snapcart and MarkPlus.

The MarkPlus survey showed that the number of transactions on the ShopeePay platform reached 26% of the total. Meanwhile, OVO is 24%, GoPay is 23%, DANA is 19%, and LinkAja is 8%. This survey was conducted on 502 respondents who used financial technology (fintech) payments during June-August.

“ShopeePay has the highest number of transactions because it is able to offer more attractive promotions (38%) compared to other e-wallets,” as quoted from MarkPlus’ research, Wednesday (2/9).

Fintech, which is affiliated with the e-commerce company Shopee, is used to transact an average of seven times a month. Meanwhile, OVO, GoPay, and DANA are used an average of six times per month, then, LinkAja at five times.

Number of Transactions Using ShopeePay is Higher than Other e-Wallet

In addition, the transaction value using the ShopeePay digital wallet is higher than others, which is IDR 149 thousand. Meanwhile, OVO, DANA, and LinkAja IDR 134 thousand, while GoPay IDR 109 thousand per transaction. In terms of transaction value, ShopeePay also dominates, namely 29% of total digital wallets.

Followed by OVO 24%, GoPay and DANA 19% each, and LinkAja 8%. As many as 38% of the total respondents think that ShopeePay offers more promotions. Then, 28% chose OVO, 20% GoPay, 11% FUNDS, and 3% LinkAja.

Then 53% think ShopeePay makes it easier to shop online. Meanwhile, 20% chose OVO, 13% respectively GoPay and DANA, and 2% LinkAja. “This happens because ShopeePay is integrated with Shopee’s e-commerce, making it easier for buyers to shop online,” the research quoted him as saying.

Apart from MarkPlus, Snapcart research noted that 68% of the total 1,000 respondents used ShopeePay during June-August. Meanwhile, OVO and GoPay were each used by 56% of users. Then, 42% used DANA and 19% LinkAja.

ShopeePay’s Strategy Shifts the Domination of OVO and GoPay

ShopeePay Marketing Manager Cindy Candiawan said the company focuses on developing strategic partnerships with various industries. It aims to increase ShopeePay acceptance in the country.

In addition, “we are constantly looking for ways to improve the convenience and convenience of transactions for users,” said Cindy some time ago (22/8). The company is also focused on building a sustainable ecosystem, especially amid the coronavirus pandemic.

One of them, ShopeePay is one of the payment services on the Shopee platform. Based on Shopee’s study during February-May, 80% of user transactions aged 18-34 years use digital payments.

These services include credit cards, bank transfers, and ShopeePay. Older users are also starting to adopt digital payments. As many as 45% of the total transactions on platforms that use ShopeePay are users over the age of 50.

The presence of ShopeePay on the Shopee platform certainly increases transactions. Moreover, based on iPrice’s research, Shopee ranks first with the highest number of visits in the second quarter of 2020, namely 93.44 million per month.

Shopee Beats Other e-Commerce Platforms

Shopee beat Tokopedia, which has 86.103 million visits to its platform per month. The third position is occupied by Bukalapak 35.3 million. Then, Lazada 22 million, Blibli 18 million, and JD.id 9.3 million.

Reflecting on the large number of visits to the Shopee platform, the potential for transactions using ShopeePay is high. Cindy noted, transactions fell at the beginning of the implementation of Large-Scale Social Restrictions (PSBB), but they went up again, especially in the MSME sector.

Transactions in the stall business, for example, grew 283%. Then, transactions at the grocery store increased by 50%. In addition, ShopeePay offers various promotions such as discount vouchers, cashback.

“Coupled with access to Shopee’s broad user base, this helps merchants grow their business and reach more people,” said Cindy. ShopeePay is a payment service made by SeaMoney Indonesia, which was founded in November 2015. This company is part of Shopee’s parent company, Sea Group.