With the increasing popularity of e-commerce, Indonesia needs a single payment platform to ease online transactions and boost the sector’s growth, a major e-commerce player has suggested.

E-commerce platform Bukalapak chief financial officer Muhamad Fajrin Rasyid said 75 percent of transactions made within the company’s platform were paid using the cash-on-delivery (CoD) system and bank transfer option. This, he said, had increased the rate of cancellations, as most buyers usually forget to make the required money transfer within the three-day window period.

Even though major banks, like BCA and Bank Mandiri, have their own “clickpay” system, Fajrin said that was not enough.

“E-money vendors are working alone and they are not compatible with each other. We need a single payment gateway,” he said on Monday, giving examples of the success of Alipay, Paytm and PayPal as a dominant payment gateway in China, India and the United States, respectively.

Despite a plan from the government to introduce a national payment gateway, Fajrin said it was still heavily focused on a system backbone instead of system integration.

“What e-commerce players can do [instead] is work on their in-house e payment systems, such as Go-Jek with Go-Pay and Bukalapak with BukaDompet, to increase customer’s virtual payment usage,” he said, referring to the popular ride-hailing application. (hwa)

You might also like :

Pilot of crashed plane promised to go home to East Nusa Tenggara for Christmas
KPK signs agreement with police, AGO to ease monitoring of graft cases
Degraded, polluted reefs, mangroves threaten nation's coasts
Asuransi MAG, Fairfax Indonesia to complete merger this month