Indonesia’s consumer internet plays in payments, e-commerce, edtech, and healthtech have seen a marked uptick in adoption with the COVID-19 pandemic altering user behaviour.
This, in turn, may lead to a revival in the country’s economy, said panelists at the 2020 Asia PE-VC Summit organised by DealStreetAsia in November.
Take OVO, for instance. The e-wallet has seen the adoption of its digital services grow 30% during the pandemic. “One in three people are new to online services during COVID-19. And based on our surveys, 93 per cent of those new users intend to continue to use the service when life normalises in Indonesia,” said the company’s CEO Jason Thompson.
He was speaking at a panel discussion titled ‘Indonesia: Does big market translate to big advantage?’ at the summit.
Thompson was joined by Yinglan Tan, founding managing partner & CEO, Insignia Venture Partners, and Akshay Garg, co-founder & CEO of FinAccel in the panel.
Garg believes that COVID-19 is becoming a “one-way highway” towards increased online penetration and access to mobile-enabled services in the next few years in Indonesia.
Watch the full video of their discussion here: