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Non-cash Transaction Is The Main Challenge of E-Money Developers

Jakarta -Although competition in e-money or application-based e-money is getting tighter, TCash is optimistic that it can dominate domestic market share by relying on a wide network of its parent PT Telekomunikasi Seluler (Telkomsel).

“Telkomsel is very widespread in Indonesia. In all regions there is Telkomsel network, while other companies depend on their services only in certain cities, “said Tcash CEO Danu Wicaksana, Reported By Bisnis Indonesia.

According to him, the toughest competitor for electronic money service today is not from fellow business actors, but from the behavior of Indonesian people who still rely on cash transactions.
He said, currently about 83% of transactions in Indonesia are still using cash transactions. To encourage non-cash transactions, Danu stated that all business actors work together to educate and socialize non-cash movements.

Changes in technological advances and fast-moving market behavior also encourage it to adapt quickly, one of which is to change business strategy to adjust to current market conditions.

He said previously TCash focuses more on the use of merchant payment services. The service can be used for payment of food at restaurant or ticket pay at cinema. In fact, it had held a discount program to boost transactions.

“After the evaluation, merchant payment can not be the main purpose, because once the discount program is withdrawn, the direct transaction down,” he explained.

In addition, the number of payment systems in the form of EDC provided by banks also make TCash space on the merchant payment services increasingly narrow.

Learning from these experiences, Danu revealed that his company is now focusing on developing other services such as credit purchase, billing, online shopping, to send money quickly and easily to a bank account or to a TCash user account.

To expand its reach, and encourage penetration to telecom operators, Danu expects that TCash will not only serve Telkomsel’s customers in the near future but also provide electronic money to customers from all operators in Indonesia.

Danu hopes TCash can become the biggest mobile money player in Indonesia. Until now, TCash has served 20 million customers in all regions in Indonesia.

According to him, the business potential to continue to grow is still very large, because Telkomsel users are estimated to reach 150 million users. Through the expansion of cooperation with other operators, Danu is optimistic that the ambition to become the biggest mobile money player can be realized soon.

Source: Bisnis Indonesia

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