CLASSIFYING USERS OF INDONESIA’S TOPFIVE E-WALLET SERVICES WITH MCA

Abstract

E-wallets have been widely adopted in Indonesian society, providing opportunities for fintech companies to compete
on delivering the best service. There has been considerable research conducted on the use of e-wallet services across
the globe, however not so many research have provided a comprehensive analysis of the profiles and characteristics
of e-wallet users in Indonesia. This study aims to fill that gap by investigating the profile and characteristics of
users of the top five e-wallet services in Indonesia based on their popularity, i.e., GoPay, OVO, Dana, LinkAja and
ShopeePay. This study also aims to understand the differences in user demographic information of each e-wallet.
Using the Multiple Corresponding Analysis (MCA) method on the survey data from 409 users of e-wallet services in
Indonesia, this study identifies several different profiles of users, i.e., three clusters based on e-wallet ownership and
seven clusters based on the most frequently used e-wallet services. The results of this study can help to provide a better
understanding of the profiles and characteristics of the e-wallet users in Indonesia, which can be used as inputs to service
providers to improve the quality of service they provide to their customers and to reach an even broader audience.