Indonesians more able to live without cash than Singaporeans: Study

• May 30, 2018

According to the Consumer Payment Attitudes Study by Visa, Indonesians are more confident living without cash for 24 hours than Singaporeans.

The study involved 4,000 respondents from Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam aged 18 and over with an income above Rp 3 million per month.

Conducted in July 2017, it found that 76 percent of Indonesians stated they were able to live without cash for 24 hours.

The number is higher than any Southeast Asian country in the study, with Singapore at 68 percent and Myanmar at 45 percent, the smallest number.

Riko Abdurrahman, director of PT Visa Worldwide Indonesia, on Wednesday said to Antara that the study showed that Indonesia is prepared to become a digital society. He added that the use of electronic payments in the daily lives of Indonesians has been increasing.

Eight out of 10 Indonesian respondents stated that they shopped online at least once a month.

Shopping online is preferred as buyers can do it at home, while payment systems are becoming safer and discounts are abundant.

The study showed that most digital payments were conducted through smartphones at 85 percent.

It also found that Indonesians spend an average of 6.4 hours a day on their smartphones, with three hours spent on social media. (wng)

Source: http://www.thejakartapost.com/life/2018/05/29/indonesians-more-able-to-live-without-cash-than-singaporeans-study.html