Wed, 20 Oct 2021

Jakarta [Indonesia]/ New Delhi [India], September 17 (ANI/PRNewswire):It is designed to bring new online orders and instant payments for Indonesian MSMEs through an open platform by providing instant technology enablement to fast-track merchantsbrands digitisation process and ride on the accelerated growth.

It allows them to enable their social commerce interface quickly, conveniently, and economically. TheThe Indonesian payment system is still in its early stage of evolution, approximately 80% of the bank accounts are still not fully digitised. 3 out of 5 transactions are from ATM/Debit Cards withdrawals or cash transactions, which is true even for transactions done for e-commerce and bill payments. The importance of platforms likeRajib Saha, CEO, Indepay, who holds a pristine experience in SEA payment space of more than a decade said, "Higher payment and transfer fee is the major bottleneck in the development of Indonesia's startup ecosystem.

Teruhide Sato, FounderCEO, BEENEXT said, "I see the Indonesian Economy to be positively influenced by the evolution of startups and they will have a massive impact in accelerating the GDP growth of the country. We have been investing in various fintech startups globally and observed that the presence of digitised bank account transfers further drives the growth of the digitized economy in every country. Thus, we have partnered with Indepay to build the much-awaited open transfer platform in Indonesia connecting Banks, Payment Gateways, Switching, and Settlement Operators to offer an ultra-low-cost seamless transfer experience.""COVID-19 has pushed digital commerce into a hyper-acceleration mode globally. In Indonesia too brands, companies, and micro-merchants want to up their digital commerce game as quickly as possible," added Rajib Saha.

To empower the MSME segment in Indonesia, theAs per the published data by the Bank of Indonesia, the country has 160 Mn registered bank accounts out of which only 3-4% are digitised.

This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

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