As the number of e-wallet players in Indonesia surges amid the vast market opportunities, bigger players have begun extending the competition beyond payments

The inaugural BankQuality™ Consumer Survey and Rankings in the Middle East interviewed 3,000 customers in three key markets in the region on their engagement, experience and satisfaction with their main retail banks.

The inaugural BankQuality™ Consumer Survey and Rankings interviewed 11,000 bank customers in 11 markets across the Asia Pacific region on their engagement, experience and satisfaction with their main retail banks.

Regulators in many APAC economies have begun setting the rules and issuing licences for digital banks, but the COVID-19 pandemic has affected some of these plans and initiatives.

As cases of COVID-19 accelerate outside of China, affected countries have enacted relief policies with an estimated worth of $3 trillion to cushion the downside impact of the pandemic.

Increasing adoption of digital payments has resulted in stiff competition within the industry. Non-bank payment players have become more aggressive, aiming to grow into full scale financial service providers.