Why offline retailers in Indonesia should bank on e-payment solutions
INDONESIA is known for its steadily thriving retail market with the recent development and improvement of its infrastructure. This comes as no surprise since there are more than 152 million internet users in the country, signifying a booming digital economy.
E-commerce activities, in particular, make up a major proportion of the digital economy contributing US$21 billion this year and set to reach US$82 billion by 2025. Another report predicts that at least 44 million internet users will be regular online shoppers in the next few years.
Naturally, for e-commerce activities to really take off, digital payment systems (e-payments) must be employed effectively to allow cashless transactions that are secure, reliable, and effective.
However, e-payment systems are not strictly limited to online retailers. In fact, it is one of the most viable and dependable solutions for digitally-inclined communities. One such community is Indonesia’s offline retailers – from mini markets to stalls.
Evidently, there is an increasing demand for e-payment systems to be made available as cashless transactions are more favored among Indonesians. This is especially true with the rapid growth of digital financial services.
Offline retailers need to seize the opportunity to increase profitability, maintain market value, and attract more consumers by adopting e-payment solutions. Even though these retailers are not doing business online, they can still go digital with their payment methods by partnering with relevant e-payment solutions vendors.
e-payment solutions will also play a significant role in Indonesia’s retail market growth. It is an attractive payment method because it is secure and seamless. Most importantly, merchants no longer have to deal with the most common issue with cash – accessibility to the right amount at any given time.
There is also a strong connection between customers and e-payments whereby the tendency to shop increases with ease of payment. Offline retailers that use e-payments will not only remain relevant in a digital society but will also increase revenue efficiently.
At the end of the day, it is all about creating a seamless shopping environment for retailers and customers. Indonesian retailers must take note of the country’s growing middle-class society that motivates consumerism and drives a need for digital purchasing methods.
In an increasingly digital world, retailers must be quick to adopt new and emerging technology to delight customers and stay relevant.
- China e-tailer JD.com establishes ‘first-in-ASEAN’ cross-border trade with Thailand
- Did Covid-19 trigger the digital economy turning point in Southeast Asia?
- 5G will set fire to the Fourth Industrial Revolution
- SMEs in Malaysia still lag in digital adoption – World Bank
- Data privacy and why enterprises should pay attention