Fintech revolution does happen among global society. Once we can purchase and have some transactions without needing any cash. In Indonesia, cashless finance and transactions are still popular.
There are a lot of youngsters who lived under this influence and gave an impact on the market research in Indonesia. Where the demand is to provide better transparency and effectiveness for every transaction.
Fintech Startups Roles for Cashless Society
Among other types of business, Indonesia has a great demand for having a lot of fintech companies. Allowing multilateral cooperation for having a sharing asset with local business.
The Fintech role does give a new chance for Indonesia to play a larger role in the global economy. Adapting to the new way of the transaction using cashless methods in several places and different types of transactions.
Today, in Indonesia we can find many people are using online transactions with cashless methods in public sectors. There are a lot of stores, gas stations, public transportation, healthcare departments, and others tend to use cashless payment.
The amount of credits and fintech apps have increased lately and give a new chance for startups to reach higher value.
Why Does Younger Like Cashless Transactions?
One of the global trends
According to surveys and daily activities among youngers. Cashless transactions are a financial trend in Indonesia. As a part of an online transaction by the influence of digitalization.
Thus, the digital ecosystem was created among younger people. Market research Indonesia tends to do modernization and adapting to the new technology in finance to provide better services.
A part of digital ecosystem in Indonesia
Once a country would like to compete in a higher level of global economy, following every change would be essential. Indonesia does need to overcome how to create a better digital ecosystem.
Let people, including the young, get used to technology. Now, the technology is applied through the financing sector. Until cashless transactions are one of the favorite methods for every payment.
People today tend to live with better effectiveness and easy ways to do everything. Fortunately, cashless transactions are a part of this living method for modern people.
Younger people in Indonesia today do not like to bring cash once they go outside or look for something. They are able to pay and conduct transactions by using cards or apps from fintech companies.
Indonesia readiness with digitalization
There are a lot of ASEAN countries ready enough for facing the new changes in the economy. Including to apply the new way of transaction through a cashless method.
In Indonesia, the numbers of people who are using cashless methods have increased. It is a good sign to show if Indonesia has been ready.
Able to provide transparency
One of the biggest challenges for every fintech startup in the financing sector is to provide transparency. Gaining people’s trust would be hard to do once they cannot show better transparency.
However, youngsters often check for their balance or add more money to their cards or apps. Let everyone do something without any cash with an easy way to top-up the balance and withdrawal methods.
Digitalization does give an impact to the economic sector and the way of people to purchase some goods. In Indonesia, finance trends among younger people are highly affected by the use of cashless transactions.
Provided by a lot of startups with huge amounts of profit. They are able to provide some specific value as a bigger factor to market research in Indonesia in the future.