Payment provider Faspay and Bank Permata recently teamed up to enhance e-commerce payments by offering new options to online shoppers.
When shopping online, this flexible payment system means that consumers have the option to pay from their mobile phones, ATMs, e-banking or with a credit card. To take part in the new system, online merchants don't even require an account with the Permata bank, because the system is already working with more than 80 banks nationwide. As an incentive for small businesses and start-ups, the system is free to use and a reduced charge is applied per transaction.
While there is still a small percentage of people who opt for COD payments, this is expected to shift as consumers embrace cashless, contactless methods of payment.