2019 Financial Trend: Cashless and Cardless!

2019 Financial Trend

Over time, internet technology has slowly changed people’s lives. Including in the case of financial transactions, online payment is the community’s choice because it is easy, convenient and safe. Seeing this phenomenon is not impossible that online payment financial trend in Indonesia will increase in the future. There are at least four online payment trends that are currently popular with people in various parts of the world. Following the review.

Payment gateway system

Online payment using the payment gateway system is commonly used by banks and large companies to merchants. The existence of payment gateways in the country has become an online payment conversation in recent years and began to be implemented since 2017.

Payment gateways in Indonesia are selected in financial transactions, because they have a high level of security and are considered more efficient.

Payment gateway system

Payment gateway system

However, this use is also monitored by the central bank. In this case the central bank is the central bank so that the transaction goes according to applicable rules.

Collaboration with retail market

Minimarket is not just a place to shop for necessities, you can also do online payment transactions on e-commerce and other payments such as ticket payments. Now many companies engaged in e-commerce in collaboration with minimarkets to facilitate consumers.

Collaboration with retail market

Collaboration with retail market

This method is very easy if compared to using a bank transfer, you only submit the payment code provided by the e-commerce company to the convenience store cashier. Then, the cashier will process the payment and you will get a proof of payment.

Use of an electronic wallet

The next trend of online payments that is booming is the use of electronic wallets. Until now, many companies and vendors have begun developing digital wallets such as cellular operators, banks and fintech companies. As the name suggests, this wallet has the same function as a conventional wallet. However, you don’t need to carry large amounts of cash and only one card and application.

QR code feature

In addition to the three online payment methods above, another feature currently used in many countries is the QR code or Quick Response Code.  This is a development of the barcode system. Codes like this are commonly found on electronic products, business cards, and payments using online communication software and digital newspapers. This QR code does have advantages when compared to barcodes.

These advantages include being able to read symbols such as kanji in addition to numbers and letters. In addition, in terms of capacity it is higher up to hundreds of times when compared to barcodes. If the barcode only uses data from the horizontal side, QR code is more varied and can be used for data that is in a horizontal or vertical position.

QR code feature

QR code feature

Its size is smaller and only one tenth of the barcode. So do not be surprised if it is widely used in a product and online payment system today.

The conclusion of the various online payment methods, actually both provide convenience. You can choose the four methods above based on need. Especially if you have an e-commerce business.