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Cash is king? More like cashless is the future, as digital wallet use in the Asia Pacific (APAC) region continues to surge. The APAC region makes up over two-thirds (70%) of global digital wallet spending, amounting to US$9.8 trillion.
In Indonesia, e-wallets remain the most popular online payment method, with a 39% market share. Home to over 280 million people, Indonesia presents a massive opportunity for the growth of e-wallets.
For one, almost half of Indonesia's adult population (49%) remains unbanked, and e-wallets provide access to vital financial services without setting up a bank account. With their expanding mobile internet access, Indonesia's young population also boosts the use of e-wallets and supports its future growth.
Businesses looking to expand in Indonesia must understand the DOKU wallet. Integrating the DOKU wallet into your business gives you access to an extensive customer base of over four million users across Indonesia who trust this secure and widespread payment method.
What you need to know about DOKU wallet
Established in 2007, DOKU is the first Indonesian-owned electronic payment solutions provider to offer local payment solutions tailored to merchants' online payment needs.
Today, DOKU has over four million registered wallet users, up from three million in 2021, and the number continues to grow. It is popular among millennials, born between 1981 and 1996, who comprise almost 26% of Indonesia's total population.
It works with over 150,000 merchants across different categories, including retail, travel and hospitality, logistics, financial services, and insurance. It's also obtained six operating licenses from the Bank of Indonesia, allowing it to offer various solutions such as payment gateway, domestic fund transfer, cross-border remittance, biller payments, e-money, and e-wallet.
What makes DOKU wallet so popular
DOKU wallet remains a popular and secure payment method for digital and non-digital merchants interested in providing multiple payment options for the Indonesian market.
The secret to DOKU wallet's widespread popularity? It lets Indonesian consumers store money electronically and pay for goods and services online without a bank account. As almost half of all adults in Indonesia (49%)remain unbanked or underbanked, digital wallets help reach and provide financial access to this sector of Indonesian society. All a user needs to do is download the DOKU wallet app on their iOS or Android devices.
How to add funds to DOKU wallet
Users can add funds to their DOKU wallet via mobile banking, direct bank transfers, credit cards, or cash deposits at automated teller machines (ATMs).
The benefits of using DOKU wallet
There are many benefits to using the DOKU wallet. It offers a fast, secure, convenient, and financially savvy way to purchase goods and services both online and in-store.
Free and quick sign-up
The DOKU wallet employs a straightforward onboarding process. Users only need to register once for multiple payment methods. They can activate their accounts and receive payments within 10 minutes. Also, there are no setup and monthly fees for all DOKU services. Only successful transactions incur a fee, depending on the chosen payment method. To game out the costs of signing up, check out DOKU's fee simulator here.
One platform, multiple payment methods
With DOKU, businesses can ease customer transactions by offering multiple payment options under one platform — from banks to cash and other e-wallets.
- Banks. Transfer funds to any local bank account in Indonesia with minimum effort. Receive payments from various banks automatically with a unique Virtual Account code. Customers can complete payments without waiting for confirmation.
- Cards. Accept payments from customers globally via credit cards, with low charge-back rates and reliable internal risk engine support.
- E-wallets. A popular cashless payment method, customers receive automatic and transparent transaction records within the DOKU app.
- Paylater. Get a competitive transaction fee scheme compared to credit cards and bank transfers with Paylater. Credit risk and chargeback are borne directly by DOKU's Paylater partners.
- Cash. For some customers, cash is still king. Facilitate payments for customers who are still comfortable paying with cash at DOKU's partners across Indonesia, comprising more than 12,000 mini markets and 40,000 convenience stores.
Highly secure transactions
With over 10 years of proven security and fraud detection system support, DOKU uses a variety of security protocols to protect transactions from end to end. DOKU's licensed system has global certification for data security, including PCI DSS, AES 256 (SecurityEncryption Standard), and ISO/EIC 270001 (Information Security Management Standard).
Integrate as needed
DOKU offers both web and mobile integration payment methods, so you can integrate payment gateways depending on your business needs.
- No integration payment collection
- Payment link. Create a link you can use to collect payments from customers.
- e-Katalog. Create an online catalog to showcase your products.
- QRIS. Create a static or dynamic QR code to collect payments easily.
- Web or mobile integration options
Easily integrate payment gateways to your websites or mobile apps, with or without IT support.
- DOKU Checkout. Customise a DOKU-hosted checkout page that you can embed in your website.
- Direct API. Use your custom payment page with your branding through DOKU's Direct API integration.
- E-commerce plug-ins. Set up your online business through third-party platforms or plug-ins such as Shopify, WooCommerce, Magento, OpenCart, and PrestaShop.
Market-leading back-end support
DOKU's high-performance system boasts near-perfect uptime, so you can monitor and manage your transactions 24/7. If you need help with any of your transactions, you can get quick help and customer care support via DOKU's multiple channels.
DOKU's wallet as a service (WaaS)
DOKU also revolutionised financial management by introducing wallet as a service (WaaS), a comprehensive e-wallet infrastructure with application programming interfaces (APIs). It allows businesses to integrate e-wallet capabilities seamlessly into their ecosystem and provide an embedded wallet solution for their customers.
The service introduced two innovations that cater to distinct market segments:
E-wallet for business
Petty cash management is still time-consuming, and businesses can streamline the process through DOKU. E-wallet for Business helps manage funds and petty cash within corporate environments. For example, Tomoro Coffee has been using DOKU's E-wallet for Business to ensure transparent and efficient record-keeping across its over 300 stores in Indonesia.
E-wallet for consumers
If you want to seamlessly integrate wallet functionality within your app, then DOKU's E-Wallet for Consumers might be for you. It's an embedded wallet within a merchant's app that integrates wallet functionality for customers to maintain a balance and make purchases seamlessly.
For example, Coda, a digital content marketplace for Indonesian gamers, benefits from this feature. Coda's customers can easily top up their balance and purchase various gaming content within the platform.
Expand your business to Indonesia and beyond with Antom
In Indonesia's e-wallet-heavy payment landscape, DOKU stands out for its convenience, security, and integration with multiple payment methods.
E-commerce merchants looking to expand to Indonesia will appreciate DOKU's access to its young and tech-savvy market, and its ability to streamline diverse payment methods crucial for business growth in Asia.
This is where Antom can help. With Antom, you can offer hundreds of payment methods around the world — including DOKU wallet. With our deep market expertise, extensive partnerships network, and comprehensive payment technologies, we can help your business boost revenue and support market entry to Indonesia and beyond.
Contact us to learn more about DOKU wallet and other payment methods in Asia.
