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Jakarta Post

Financial technology for not-so-high-tech people

  • Nika Pranata

Jakarta   /   Mon, June 17 2019   /  01:13 am

Financial Technology (FinTech), especially in terms of digital payments, has the immense potential to be utilized in Southeast Asia’s largest economy, Indonesia. According to the Report of Indonesian Internet Service Providers Association (APJII) in 2017, over 140 million Indonesians have access to the internet, of which 93 percent have smartphones or tablets.Moreover, 73 percent of them are 19 to 34-year-old, highly mobile “digital natives”. This age group generally not only evaluates products or services — including payment options — solely from their function or utility, but also their convenience of use, delivery time and efficiency. The adoption of digital payment services delivered by FinTech providers can fulfill such a demand as it makes payment transaction more efficient, practical, instant (one-touch payment) and secure.Interestingly, contrary to the common assumption...