16 September 2013
Spire speaks on E-payments at the International Finance Corporation Inter-Industry Workshop
More traditional retailers in Indonesia are experimenting with cashless payments. Recognizing the potential of e-payment solutions in the retail industry; the International Finance Corporation (IFC) initiated the first in a series of workshops on Retailer Digital Payment focusing on new e-money solutions. Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, was honored to be invited as a guest speaker at this event.
Held in Jakarta, Indonesia, the IFC Inter-Industry Workshop aimed to reach out to banks, third party payment service providers and mobile money/mobile payment providers. Its main objective is to introduce retailers to the new technology now available for traditional retail channel distribution, and to provide a forecast for its adoption.
In his presentation, Bahar spoke about the traditional retailer sector in Indonesia. He also highlighted the different business profiles, modes of payment and payment frequencies to suppliers, as well as the cashless payment adoptions to date in Indonesia.
Bahar opined that most payments are still made through cash. He remarked that cashless payment through card transactions, mobile and internet banking is also fast catching up, due to the banks’ aggressive push for such services. In conclusion, Bahar commented that by integrating digital payment in the supply chain, Indonesian retailers would be able to extend such a payment system to reach out to small retailers.
Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.