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INTRODUCING INDONESIA MOBILE PAYMENT REVIEW 2022

A data-driven view on how financial technologies are disrupting offline retail in Indonesia

INTRODUCING INDONESIA
MOBILE PAYMENT REVIEW 2022

A data-driven view on how financial technologies
are disrupting offline retail in Indonesia

The COVID-19 pandemic has accelerated the adoption of digital financial technologies across the globe, including in Indonesia. DealStreetAsia DATA VANTAGE, in partnership with the Indonesian e-payment firm LinkAja conducted a study in the first half of this year to capture the penetration of mobile payment applications and how they are affecting micro, small and medium-sized enterprises (MSMEs) that are engaged in offline retail.

Key findings from the study lends support to the notion that the adoption of e-wallets and, to a lesser extent, mobile banking apps have altered the way offline retail merchants do business. Although cash remains king, e-payment has emerged as the most popular alternative for retail transactions. With the adoption level reaching critical mass, new opportunities have emerged in the fintech space to further empower MSMEs as the backbone of Indonesia’s economy.

How digital finance is fostering inclusion and transforming Indonesia’s MSME industry

Mobile payments have reached critical mass when it comes to adoption with 97% of offline MSMEs becoming a part of Indonesia’s digital economy.
The pandemic was a major accelerant — mobile wallet adoption doubled through this period. Before the pandemic, it stood at a mere 23%.
Convenience and discounts are the main reasons driving mobile wallet adoption, with the former winning the day.
While cash still rules, e-wallets are catching up — emerging as the second most preferred payment mechanism.
MSMEs are showing an increasing preference for e-wallets over traditional banking.

These were just some of the topline findings of an upcoming research-backed report on the digital finance industry in Indonesia created by DealStreetAsia, and sponsored by LinkAja.

Read more ->

The financial inclusion opportunity in the digitalisation of MSMEs

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories.
A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

Following vacancies can be applied for (only in Singapore).

A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories.
A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.