Mobile wallet Ipaymu and QR codes increase sales in Indonesia
Nowadays the majority of payment transactions in Indonesia are conducted by means of cash. However, modern technical solutions soon will be able to change this situation. Recently an e-wallet Ipaymu was introduced to citizens of the country, which will help to draw attention of smartphone users with the possibility to make mobile payments by means of QR technologies and will probably increase the popularity of cashless payments.
The use of QR codes for popularization of cashless transactions, according to founders of Ipaymu, is aimed to show modern users of mobile technologies that it is possible to pay for goods and services in a convenient and quick way without using cash. Business representatives can put images of a two dimensional barcode to goods and it will encourage the increase of sales in the offline mode.
To use an opportunity to buy goods without cash, a smartphone owner has to create his mobile wallet account in the Ipaymu system. Then a consumer has to download a free application Ipaymu Android app. To make a purchase or pay for services, a user of a smartphone has to initiate the mobile application on his device and direct its camera to the image of a QR code. Money will be automatically transferred from the mobile wallet account of the consumer in favor of the business. In such a way, a payment transaction will be finished, which won’t take much time, and the trade representative will be able to manage funds of his mobile wallet account from Ipaymu. Now about 137 different banks participate in the project, offering their clients to use modern mobile technologies for conduction of cashless transactions.
Payment for services and goods by means of QR codes to conduct cashless payment operations is very popular in many countries of the world. Consumers use their smartphones with pleasure to make purchases in a convenient way and to save time, which they, as a rule, spend for shopping in search of necessary goods and staying in queues to the cash desk to pay for their purchases. Buying things via the mobile wallet, a smartphone user can control his spends in a convenient form at the display of his mobile device.
Recently the system of mobile payments with the use of QR codes was tested in one of the universities of Malang city. There merchants who are engaged in arrangement of public catering and who have created a network of small fast food restaurants for students, have decided to offer users of smartphones to pay for goods by scanning images of QR codes. As a rule, students are the part population of the country, which is most open for innovations and using of the latest technologies, which can make a life of a modern person simpler and more convenient.
To become an active participant of the market of mobile commerce and to provide an opportunity to your clients to make purchases using capabilities of QR technologies, it is necessary for a business representative in Indonesia to have a tax identification number (NPWP) and also a bank account, which is registered in the system of Ipaymu. Unfortunately, the majority of small and medium business representatives in the country and especially street merchants can’t fulfill these requirements. Only 20 percent of the population has bank accounts and 23 million tax identification numbers was issued. At the moment there are 18 million of users registered in the Ipaymu system, 40 percent among which are business representatives, who wish to provide modern possibilities for conduction of cashless transactions for their clients.