Factors Contributing to the Growth of Online Business in Indonesia www.paymentasia.com
Indonesia, an archipelago nation is one of the fastest growing economies today. Indonesia’s economy is no longer focused on traditional goods such as electrical appliances, automobiles, oils, textiles, and gas. For the past few years, the digital ecosystem has been on the rise and has contributed richly to the wealth of the nation. Here are five factors that contribute to the growth of online business in Indonesia.
Digital Friendly Population Indonesia has the fourth largest population in the world, has a huge base of youth. The young generation are text savvy and fervent users of social media. This has led to a burgeoning consumer market highly dependent on the mobile internet provided by the ecommerce payment gateways in the country. The growing middle class spend their disposable income on electronics and fashion highly based on social media recommendation. The buying decisions of consumers are shaped by social media to a large extent. This is benefiting the e-commerce of the country largely. The availability of low-cost phones and internet services have made it easier for consumers to use ecommerce platforms that accessing offline or physical stores.
Improved e-payment systems The improved and accelerated payment infrastructure in Indonesia enables consumers to pay for online purchases using a wide array of payment options. They can pay directly through their bank account, by debit/credit cards or by e-wallets instead of the traditional cash on delivery. Credit/debit cards and bank transfers have become the dominant payment method for online purchases, cash transactions have steeply decreased. This factor makes room for the significant growth of payments using cards, mobile banking and e-wallets. Choose an Indonesia online payment gateway that offers a variety of flexible payment options that are secure, scalable and seamless, to grow your online business.
Supportive Government Policies Indonesia's government is actively supporting the digital economy by releasing the “Roadmap for the National eCommerce System 2017-2019". This roadmap provides guidelines for an Indonesia online payment gateway to support its digital economy sector. It prioritizes the development of the National Payment Gateway (NPG) to strengthen the E-commerce ecosystems in Indonesia. Regardless of the challenges, steady and healthy growth of the economy, supportive government policies, rise in internet and mobile usage and increasing middle class are expected to continue to strengthen the e-commerce market in the country in the future.
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