Business Environment

E-Payment by Electronic Money in Indonesia


Electronic money has grown with the development of car dispatch apps

The first full-fledged smartphone dispatch app to be available in Indonesia was Uber, which expanded from the US in August 2014, followed by motorbike taxi GrabRide in November 2014, but it's still fresh in our minds that the home-grown GoJek app was launched in 2015 and quickly increased its visibility and market share with that shocking "10,000 rupiah for a ride anywhere" campaign.

In the case of Ojek, a motorcycle taxi that hangs out on the side of the road and waits for customers, it's a hassle to negotiate a fare with the driver, and in the case of bluebird taxis, the fare is high and the evening, it was hard to catch them in the rush to get home, so you can rest assured that GoJek Inc. You can order a registered driver from the smartphone app, and you don't have to worry about making change, plus it's cheap GoJek, which can be ridden on the GoJek, has become a revolutionary service for users to get around.

Drivers are motivated by the fact that they can earn bonus points based on their distance. At one point, it was even said that it was more profitable to be a GoJek driver than to work in an office But now that I think about it, that was a huge amount of money that was raised to take control of the market as quickly as possible. This is an initial strategy to improve the quality of the service and penetrate the market as planned. The process is the very history of how a very good start-up company grew into a big company.

GoJek has since turned profitable in the third quarter of 2019, turning from a single-minded strategy of expansion that continues to add more types of services to a "select and focus" strategy that strengthens its core business: transportation, food delivery and e-money.

Electronic payment services such as GoPay and OVO underpin this dispatch service. With the development of smartphone app services and online marketplaces, Indonesia's electronic Money transactions have continued to increase over the past three years, reaching 241.2% growth in Q4 2019.

The Benefits of Ecommerce Payments for Consumers and Businesses

The three largest transactions in Indonesia with the largest amount of e-money usage are as a means of payment in retail stores (28%), online transportation bookings for transportation (27%) and meal delivery bookings (20%), with me, who rarely travels with GoJek, using it for e-commerce payments (15%) and bill payments (7%) in online marketplaces such as Tokopedia and Shopee, which are the two dominant marketplaces.

The pioneer of electronic money in Japan was a pre-charged card issued by East Japan Railway Company (JR East) that you can use by charging your card in advance I think it's a prepaid Suica, but it's called "Bank" in Indonesia Mandiri and Indomaret have partnered with e-money and BCA Flazz, among others. Nearby, in October 2017, these contactless IC cards will make it possible for TOLs (highways) to fully Cashless is being made, and more recently, cashless parking in malls and office buildings. If you don't check your balance often, you won't be able to settle your account from the queue behind you. You'll be embarrassed by the horn honking all over the place.

And GoPay is the Japanese equivalent of PayPay, which is used for QR code payments at convenience stores in Japan and OVO, etc., and in the case of Indonesia, the top-up balance is limited to about Rp.1juta The main reason for the rapid penetration of smartphone payments to a wide range of age groups, though, is that Discounts and cash back, such as "50% discount with ShopeePay campaign, but in this time of corona ravages, it is also the medium of transmission of the virus. The trend to refrain from using leapfrog bills and coins to make payments has encouraged the use of smartphones for e-commerce payments. .

The benefits of smartphone payments for warung and SMEs include efficiency of work by reducing payment time, not having to prepare change, bookkeeping by automatically recording transaction history, and not having to go to the bank to save sales, and GoPay is frequently conducting on-site briefings to SME self-employed businesses to increase the number of micro-business partners across Indonesia.





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