Wallets/shopeepay
ShopeePay
0 standards supported
Overview
ShopeePay is Sea Limited's e-commerce-embedded super-app wallet, operated by Monee (formerly SeaMoney) — Sea Ltd's fintech division [1, 2, id-cro]. ShopeePay is embedded within Shopee (Sea Group's dominant Southeast Asian e-commerce platform) + operates across 7 Southeast Asian + Taiwanese markets. In 2023, ShopeePay processed over IDR 1.3 quadrillion (~US$87 billion) in transaction value (+27% YoY) — substantial scale primarily in Indonesia.
Indonesia 2025 milestone: ShopeePay was the most-used e-wallet in Indonesia in March 2025 (per Snapcart survey), competing closely with [[ovo]] + [[gopay]]. The Indonesia standalone ShopeePay App (launched February 2024) reached 50+ million Android downloads by March 2025 with 20%+ of ShopeePay's monthly transacting users using the standalone app.
Sea Group fintech rebrand (May 2025): SeaMoney → Monee + operates MariBank (Singapore) + SeaBank (Indonesia + Philippines) digital banks + payments + lending services. Monee loan book exceeded $5 billion in 2025.
History
2019 — ShopeePay launches in Indonesia [2]: Embedded payment for Shopee e-commerce.
2020-2022 — Multi-country expansion across Sea's e-commerce markets [2]: Indonesia, Thailand, Malaysia, Singapore, Philippines, Vietnam, Taiwan.
2021 — SeaMoney Indonesia digital banking license (SeaBank) [2]: Indonesian digital bank.
2022-2024 — Continued super-app expansion [3]: Lending, savings, insurance added.
2023 — IDR 1.3 quadrillion (~US$87B) transaction value (+27% YoY) [3]: Substantial scale.
February 2024 — Standalone Indonesia ShopeePay App launched [1]: Separate-app strategy beyond Shopee-embedded.
May 2025 — Sea Group rebrands SeaMoney → Monee [4]: Fintech-arm rebrand; Monee oversees MariBank + SeaBank + payments + lending.
March 2025 — ShopeePay most-used Indonesian e-wallet [1]: Per Snapcart survey; surpassed OVO + GoPay.
Late 2025 — Monee loan book >$5 billion [4]: Substantial lending portfolio.
Ownership & operator
Operating entity: Monee (formerly SeaMoney) — fintech division of Sea Limited (NYSE: SE).
Parent: Sea Limited (NYSE: SE) — Singapore-headquartered SE Asian tech conglomerate; operates Shopee (e-commerce), Garena (gaming), SeaMoney/Monee (fintech).
Major shareholders of Sea Limited: Forrest Li (founder + CEO; controlling shareholder) + Tencent (historical strategic investor; gradually reduced) + public float.
Regulators: BI (Indonesia) + per-country SE Asian regulators (BOT Thailand, BNM Malaysia, MAS Singapore, BSP Philippines, SBV Vietnam, FSC Taiwan).
Banking subsidiaries:
- MariBank Singapore — MAS digital banking license.
- SeaBank Indonesia — OJK Indonesian banking license.
- SeaBank Philippines — BSP one of first 6 digital banks.
Technical integration
ShopeePay is Sea Group's super-app embedded payment with standalone app + multi-country deployment [1, 2]:
| Layer | Description |
|---|---|
| Channels | Embedded within Shopee app (primary) + standalone ShopeePay app (Indonesia, Feb 2024+) |
| Identifiers | Phone number + email + QR code |
| Indonesian national QR | qris universal acceptance |
| Multi-country deployment | ID + TH + MY + SG + PH + VN + TW per-country EMI licenses |
| Digital banking | MariBank Singapore + SeaBank Indonesia + SeaBank Philippines |
| Lending | Monee loan book >$5B (2025) |
Users & growth
- Standalone ShopeePay app downloads (Android, by March 2025): 50+ million
- Standalone app monthly transacting share: 20%+ of ShopeePay's monthly users
- March 2025: Most-used e-wallet in Indonesia (Snapcart survey)
- 2023 transaction value: IDR 1.3 quadrillion (~US$87 billion, +27% YoY)
Indonesian e-money market context [3]: ~US$14.1B transactions with ShopeePay + OVO as main players.
Monee group (2025) [4]:
- Loan book: >$5 billion.
- Digital banks operated: MariBank Singapore + SeaBank Indonesia + SeaBank Philippines.
Use cases
Shopee e-commerce checkout [2]: Cardinal use — embedded payment for Shopee marketplaces.
Merchant QR payments via QRIS (Indonesia) [qris-cro]: Universal Indonesian merchant acceptance.
P2P transfers [1]: Standalone app + Shopee-embedded P2P.
Bill payments + utilities [2]: Per-country Southeast Asian services.
Mobile credit + data top-ups [2]: Per-country MNO support.
Lending (Monee SPay Later + Pinjaman) [4]: Consumer + merchant credit.
Digital banking via SeaBank (ID + PH) + MariBank (SG) [4]: Full retail banking.
SeaMoney games + entertainment (via Garena) [2]: Cross-product Sea Group ecosystem.
Implementations & partners
Operator: Monee (formerly SeaMoney) — Sea Limited subsidiary.
Parent: Sea Limited (NYSE: SE).
Sister Sea Group products: Shopee (e-commerce) + Garena (gaming).
Indonesian national QR: qris (BI + ASPI).
Digital banks: MariBank Singapore + SeaBank Indonesia + SeaBank Philippines.
Major Indonesian competitors: [[ovo]] (Grab-majority), [[gopay]] (GoTo Financial), DANA (Ant-backed), LinkAja (state-owned).
Regulators: BI (Indonesia) + per-country regulators.
Fun facts
- Launched 2019 as Shopee-embedded payment — substantially later than OVO + GoPay + DANA but caught up via Shopee distribution.
- IDR 1.3 quadrillion ($87B) 2023 transaction value (+27% YoY) — substantial scale.
- March 2025 most-used Indonesian e-wallet (Snapcart) — surpassed OVO + GoPay in user survey.
- February 2024 standalone ShopeePay app launch — strategic move beyond Shopee-embedded.
- 50M+ standalone-app Android downloads by March 2025.
- 20%+ monthly transacting users via standalone app — substantial standalone adoption.
- May 2025 SeaMoney → Monee rebrand — fintech arm reidentification.
- Monee loan book >$5B (2025) — substantial lending portfolio.
- MariBank SG + SeaBank ID + SeaBank PH — three digital banks across SE Asia.
- 7-country SE Asian deployment — Indonesia (largest) + TH + MY + SG + PH + VN + TW.
Comparison
| Feature | ShopeePay | [[ovo]] (ID competitor) | [[gopay]] (ID) | DANA (ID) | [[gcash]] (PH) | [[truemoney]] (TH) |
|---|---|---|---|---|---|---|
| Operator | Monee (Sea Ltd) | PT Visionet Internasional (Grab-majority) | GoTo Financial | DANA (Ant-backed) | G-Xchange (Mynt) | Ascend Money |
| Country footprint | 7 SE Asian + TW | Indonesia | Indonesia | Indonesia | Philippines | 6 SE Asian |
| Users (2024-25) | 50M+ standalone Android downloads (ID) | 80M+ | Major | Major | 81M | 32M (TH) |
| Heritage | Sea Group e-commerce (Shopee) | Lippo Group retail | GoJek ride-hailing | Ant Financial JV | Globe Telecom telecom | True Corporation telecom |
| Digital banking | MariBank SG + SeaBank ID + PH | n/a | n/a | n/a | n/a | Approved April 2025 |
| Loan book | Monee >$5B (2025) | n/a | n/a | n/a | n/a | n/a |
Status
Active, leading Indonesian e-commerce-embedded super-app + multi-country SE Asian [1, 3, 4]:
- Monee (Sea Ltd subsidiary, formerly SeaMoney post-May 2025 rebrand).
- 7-country SE Asian + TW deployment.
- March 2025 most-used Indonesian e-wallet (Snapcart survey).
- 50M+ standalone ShopeePay app downloads (Android, Mar 2025).
- 2023 transaction value IDR 1.3 quadrillion (~$87B, +27% YoY).
- MariBank SG + SeaBank ID + SeaBank PH digital banks + Monee loan book >$5B (2025).
Sources
- 1 ShopeePay tops ID Q1 — KrASIA
- 2 Sea Ltd — Wikipedia
- 3 SeaMoney fintech opportunity — Punchcard Investor
- 4 Sea rebrand to Monee — Fortune
- 5 Monee 2026 — Zack Zhu
- id-cro In-corpus:
reports/countries/ID-indonesia.md - qris-cro In-corpus:
reports/standards/qris.md
Source
Biography extracted from shopeepay.md. See matrix.md for standards-support matrix if present.