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View all search resultsPayment integration sought to propel e-commerce development
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Online shopping: E-commerce platform Bukalapak chief financial officer Muhammad Fajrin Rasyid (left) and vice president of marketing Bayu Syerli Rachmat demonstrate the Bukalapak payment system during a press conference in Jakarta on Monday. (JP/Anton Hermansyah)
W
ith the increasing popularity of e-commerce, Indonesia needs a single payment platform to ease online transactions and boost the sector’s growth, a major e-commerce player has suggested.
E-commerce platform Bukalapak chief financial officer Muhamad Fajrin Rasyid said 75 percent of transactions made within the company’s platform were paid using the cash-on-delivery (CoD) system and bank transfer option. This, he said, had increased the rate of cancellations, as most buyers usually forget to make the required money transfer within the three-day window period.
Even though major banks, like BCA and Bank Mandiri, have their own "clickpay" system, Fajrin said that was not enough.
"E-money vendors are working alone and they are not compatible with each other. We need a single payment gateway," he said on Monday, giving examples of the success of Alipay, Paytm and PayPal as a dominant payment gateway in China, India and the United States, respectively.
Despite a plan from the government to introduce a national payment gateway, Fajrin said it was still heavily focused on a system backbone instead of system integration.
"What e-commerce players can do [instead] is work on their in-house e payment systems, such as Go-Jek with Go-Pay and Bukalapak with BukaDompet, to increase customer's virtual payment usage," he said, referring to the popular ride-hailing application. (hwa)
