Instapay Indonesia is now live. Fintech MC Payment has announced the soft launch of Instapay, which will target SMEs across the country.
Instapay Indonesia is a business-to-consumer (B2C) payment platform that aims to position itself within the Indonesian SME market.
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With quick, simple and secure payments, SMEs can more confidently process their payments from customers and to employees.
Instapay Indonesia is a mobile device application that provides businesses with the ability to invoice their customers via social media. The digital channel will accept various payment methods.
Furthermore, Instapay can help small business owners expand into international markets and accept international credit cards. It can also accept credit card payments without website integration or EDC machine.
Instapay capabilities
The payment platform will allow merchants and their customers to simplify payment transactions, by using social messaging apps such as Whatsapp and Line. Providing a frictionless payment process will enable quicker and more secure transactions. Approximately 1000 merchants have signed up and utilised the payment services to date.
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By GlobalDataMC Payment’s Indonesia division, country director, Mr Valerino Wijaya commented:
“MC Payment has identified pain points associated with payment processes in SMEs. This includes inability to monitor and accept a wide range of payment channels. Instapay provides an easy mobile-based solution that directly solves these problems so businesses can focus on what they do best.”
The Indonesian government now has a goal of enabling 8 million SMEs to go online by 2020. As of 2017, there are a total of 59.26 million SMEs operated in Indonesia. However, only 3.97 million SMEs were active online.
MC Payment’s CEO, Anthony Koh, added: “MC Payment is pleased to strengthen our market presence in Indonesia with Instapay. Approximately 1000 Indonesia merchants signing with us, is a testimony of the platform accessibility and stability. Instapay enables small merchants to save time without the hassle of going to a bank. At the same time, these small business owners will be able to manage their cashflows better.
“MC Payment will be rolling out supporting services like mobile micro financing and instalments for SMEs in the coming months. Loan approvals for SMEs will occur within 24-hours using their mobile phones. We will keep the public updated in due course.”
