It happens when the market is flooded with competitors, just like phones, basically survival of the fittest

But when the fittest chose the bad strategy, downfall can also happen

Ayam been using e wallet since 2017 and Boost being the first, Boost was ahead cuz they were willing to dump tons of money on cashback and rewards, but then it wasn't sustainable in the long run so they had to change strategy few years later, but the current point system is not very attractive because it's hard to level up and earn more points

Grabpay is also quite similar to Boost although they didn't spend as much, their point system cashback was very attractive until they had to do major reduction and that's how the momentum got away

TnG e wallet although screwed up initially was bound to grow at a quick pace because not just because they also have budget to dump in for cashbacks, their service can be tied to toll payments, hence it has tons of potential userbase already to begin with

When it comes to Boost, it won't die off anytime soon, they will just keep adding more new features to focus on, they might also launch their prepaid card (TnG also coming soon) to compete with Bigpay

Personally using these e wallets cuz ayam like options (Boost > TnG > MAE > Shopeepay > Grabpay), and still using Boost because the point system still kinda useful for ayam since can redeem vouchers for bill payments lol.

This post has been edited by xperiaDROID: Jun 7 2022, 11:18 AM