JAKARTA, 17 March 2021 - In line with Cashlez (the Company’s) strategy this year to expand the network of business actors, the Company will begin to explore traditional markets in Indonesia. This initiative is intended to facilitate business owners in traditional markets in processing non-cash transactions.

 

During the ongoing Covid-19 pandemic, implementing health protocols is a major requirement for every community during their daily activities. Although currently business activities have begun to recover, the Government still urges the public to minimize physical contact, including in transactions.

 

Based on data from the Financial Services Authority (OJK), until 2019, there were around 185 million internet users in Indonesia, an increase of 74% on an annual basis. This in turn resulted in 172 million smartphone users in Indonesia, an increase of 142% when compared to an annual basis. This significant increase also supports growth in terms of non-cash payments, especially during the pandemic where people have started to switch to digital payments in their daily transactions.

 

Therefore, the Company will use this opportunity to assist digital transformation for traditional markets, which generally still use cash in transactions in carrying out daily business activities. The strategy pursued by the Company is one form of support for Government programs to prevent and reduce the spread of the Covid-19 virus through cash.

 

Suwandi, as the President Director of Cashlez, stated that, "We see that in the future business opportunities in the non-cash payment system will continue to grow rapidly in line with the growth of economic digitization in Indonesia. With this initiative, we believe we can help MSME players in traditional markets to be able to compete in the digital era."

 

For now, the Company is exploring traditional markets in Java. In the future, the Company will cooperate with traditional markets in other parts of Indonesia. Through this collaboration, consumers can make payments with QR codes, Cashlez-Link, Virtual Accounts, and digital wallets so that they can reduce physical contact when making transactions in traditional markets.

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