The 5 Most Popular Online Payment Methods in Indonesia
The most popular online payment methods in Indonesia: bank transfer, virtual account, cards, e-wallets and COD, and how sellers can accept them all.
Online shopping is now an everyday habit in the digital era. Digital transactions are paid for without cash, that is, through online payment. There are now many cashless payment models, and here are some of the most popular.
Popular Cashless Payment Methods Today
- Bank Transfer
Transferring money between bank accounts is a method that has been around for a long time. Payments are sent remotely through an ATM, mobile banking or internet banking. These days, though, buyers no longer have to go to the trouble of confirming their payment with the seller.
A payment gateway system checks automatically whether a payment has gone through. Bank transfer is still popular because people are very familiar with it, so the process rarely causes trouble.
- Virtual Account
Another popular online payment method is the virtual account. This is a payment number assigned to a specific customer. It carries the customer ID and the amount to be transferred, so once the virtual account number is entered, the customer's details and the total purchase appear right away.
There are generally two kinds: non-fixed virtual accounts and fixed virtual accounts. A non-fixed virtual account usually lasts about 24 hours and is used for a single transaction. A fixed virtual account is tied to the customer's data. When topping up a digital wallet, for example, the virtual account points to the registered mobile number.
- Debit or Credit Card
In the past, cashless payment often meant swiping a debit or credit card through an EDC machine (a card terminal). Now card payments can be made without one, simply by entering the card details into the payment service. The transaction then runs automatically.
- Digital Wallet
Digital wallets, or e-wallets, are now widely used. The system lets people store money digitally as a payment instrument. You can use it to pay for transactions online or offline by scanning a QR code.
- COD
Cash on delivery (COD) has been around for a long time, but it has become more flexible as it has expanded. An online shop that joins a marketplace can use the system to accept payment safely. Instead of the seller, the courier acts as the middleman and collects the payment in cash.
These cashless payment methods are widely used by people across Indonesia because they make transactions easier. Sellers should therefore be able to offer all of them. The way to do that is to use the Duitku payment gateway, which makes accepting payments through many methods a simple matter.
