Describing Business Trends in 2020

Describing Business Trends in 2020

The development of the digital world is increasingly sophisticated and provides ease of service for the community, including the development of money as a medium of exchange. As technology develops, there are now many transactions using electronics and making it easier for users to make transactions. In the business world, sophisticated technology can help the success of the business. In our opinion a lot of businesses are trending in 2020, one of which is electronic money (e-money). The reason is because in an advanced era like now everyone needs electronic money to facilitate transactions.

E-money is starting to develop in Indonesia and its users are also increasing. Many online and offline entrepreneurs in Indonesia use e-money transactions. Even now, public facilities have introduced e-money as payment for tolls, commuterline, shopping and much more.

What makes it a trend compared to the previous year we will explain through this table:

Cash:

 Easily lost or tucked

 Not practical, if the money is in the form of coins and a mess in the wallet

 Long queues at checkout

 Not safe when carrying large amounts of cash

Electronic money (e-money):

 No need to carry cash and save coins

 Reducing the circulation of counterfeit money in the community

 Can know with certainty the amount of money that has been used

 Save queue time when on the highway or when taking public transportation

 Can do various transactions such as payments on tolls, gas stations, shopping in supermarkets, parking, public transportation (Transjakarta, Jabodetabek commuter line, and Trans Jogja)

 Can use e-money at various other types of merchants that support payments using e-money

 Top-up can be done in various places such as Alfamart, Indomart and others.

Top up e-money using a variety of ways

            Replenishment of e-money funds is also very easy and can be done in various ways. For example if you use Mandiri e-money from Bank Mandiri. You can get this card at the Bank Mandiri Branch Office in your city, as well as physical retailers such as Indomaret, Alfamart and even to the Sales Representative e-money at certain toll gates.

            1. Mandiri ATM

            There are five ways you can use. You can top up at Mandiri ATM with the e-money logo whether using a Mandiri debit card or a shared ATM debit card. To top up using a Mandiri debit card, you just need to enter it at the Mandiri ATM, then select the e-money menu for you to top up your desired nominal value.

Unlike the case if you use a shared ATM, the options that appear are Other Transactions, and select Mandiri Prepaid. Only then can you fill in the nominal e-money and if the transaction receipt comes out, it means that your e-money has been successfully topped up.

            2. Android Mobile has NFC Feature

            Alternatively you can use the "Mandiri e-money refill" application, which you can download through the Play Store application on your mobile. But until June 26, 2018, the Mandiri e-money refill application had an average review of 2.8 stars out of a total of 5 stars, really far from our expectations with many errors in each balance topping up. The number of users who left a 1 star rating was 939 out of a total of 2185 users.

            Here are some explanations if you still have difficulty topping up using the Mandiri e-money refill application. First, don't forget to turn on the NFC (Near Field Communication) feature so that the top up can be successfully performed.

Paste the e-money card when charging, it is recommended that you use a flipcase or the like. When entering your debit card number, make sure the card already has a 3D Secure (Verified By Visa / MasterCard VCN) feature. Whereas CVV is the last 3 digits of the number that is behind the debit card.

If the filling is correct, there will be a confirmation in the form of an OTP number. Record and fill in the authorization code column. If your e-money card is still attached, try releasing it, and then sticking it again so that your balance is refilled. Wait until the top up process is complete and successful.

            3. Mandiri SMS

            You can also use the Mandiri SMS feature by typing * 141 * 6 #, followed by a choice of 5 for Buy, and 3 for Top Up E-Money. But the drawback, you must still do a balance update first at the Mandiri ATM or Mandiri e-money refill application before you can use it.

            4. Mandiri Internet

            As for refill via Mandiri internet, all you have to do is select the Electronic Money menu and select Refill until the confirmation page appears along with the response code. This code is obtained by inputting the challenge code that appears on your computer screen to the Mandiri internet token. After succeeding, you also still have to update the balance first.

            5. Toll Gate

                  You can also top up Mandiri e-money through the toll gate by simply handing over your e-money card to the officer along with cash amount of the nominal refill, which is Rp. 50 thousand, Rp. 100 thousand, or Rp. 200 thousand at the toll gate marked e-money refill.

  

What is e-money and the difference with other payment systems ?

            Electronic money or commonly abbreviated as e-money (electronic money) is a way of storing monetary value in a tool, such as cards that we have encountered. The card can later be used to make payments not only by the owner of e-money, but can also be transferred to other people.

            The electronic device becomes a prepaid service that does not use the bank account of the card owner. Except of course if you use an account to top up e-money. But the truth is, you don't need to have any bank account to have an e-money card. Interesting right?

            1. Prepaid Card

            The practicality of e-money becomes attractive especially with the existence of two types of e-money products. The first is physical products, such as cards that are sold separately in supermarkets such as Indomaret Card, or even banking products such as Mandiri e-money.

            These cards are inserted in a chip which functions as a card identity feature, and can be used at any time as long as the payment instrument can be read, without an internet connection to any server.

            2. E-wallet

            Different from online e-money products, where we can use this type of e-money for payment of various digital products such as Bitcoin and Unipin. Here, you must connect to the server to verify your e-money account data before you can use your card for each payment.

           Although since the issuance of a new regulation by BI, this type of payment system has clearly become increasingly stringent, and must first register for permission. But there are still many e-money that are illegal and are still used by many people. In fact this regulation was made so that consumers are guaranteed and in general the financial system in Indonesia can be safer.

               E-money itself seems to have a function very similar to the credit and debit cards that you normally use to shop online, or physically at supermarkets. But in truth, e-money is totally different from credit and debit cards, where these cards are access products and not prepaid products like e-money.

• Galuh Sekar Kinanti (22217484)
• Kezia Febriana Lukiswara (23217193)