The Gen Z’s Digital Payment Loyalty in Indonesia

Indonesia stands as a colossus in the digital payment frontier, boasting the largest market in Southeast Asia with a staggering 92 million users in 2020 alone and a transaction value eclipsing 18.7 billion US dollars. It’s within this vibrant backdrop that our research unravels the enigma of Gen Z, the digital-native cohort swiftly commandeering these platforms. Riding the wave of e-Wallet domination, with over 70 service providers and an impressive 104 million users, our findings dive deep into the pulsating core of Gen Z’s behaviors. At the intersection of culture and commerce, we discover that cultural nuances, notably acceptance of inequality and collectivism, significantly sculpt their brand allegiance. Concurrently, a superior customer experience emerges as a pivotal anchor for their loyalty. Yet, the shimmering digital horizon reveals disparities: a discernible gender imbalance and concerning gaps in financial literacy among these young consumers. For forward-thinking businesses, the clarion call is unmistakable: to triumph in the Indonesian market, one must deftly navigate its cultural tapestry, elevate customer experiences, and champion financial literacy. This study doesn’t just decode the Gen Z phenomenon in Indonesia but illuminates the roadmap for businesses to thrive in the heart of Southeast Asia’s digital payment behemoth.