Bank DBS Indonesia has collaborated with CARInih, a technology-based company that prioritises a collaborative ecosystem, to support the digital transformation of Indonesian small, micro, and medium enterprises (SMEs) online and offline.
CARInih provides an application that features Bank DBS Indonesia’s corporate digital banking services, facilitating customer transactions and guaranteeing smooth payment to partners.
The current digital development has increased the public’s need for services that support a fast and easy lifestyle, such as facilitating shopping. People are shifting to digital platforms like e-commerce to shop because online shopping is easier and timesaving compared to in-store shopping.
In addition, the public’s need for online shopping means SMEs should start offering their products through digital platforms. According to the e-Conomy SEA 2021 report by Google, Temasek, and Bain & Company, Indonesia’s gross merchandise value (GMV) in 2021 was expected to reach US$70 billion, with an annual growth rate of 49% compared to 2020.
The sharp increase was in line with the 52% growth in total e-commerce transactions. During Indonesia Fintech Summit 2021, the Financial Services Authority (OJK) revealed that there were 2,319 startups in Indonesia by the end of 2021.
“By supporting digital technology adoption by SMEs, Bank DBS Indonesia becomes a part of the digital ecosystem and helps speed up financial inclusion in Indonesia,” said Angela Thenaria, SVP Institutional Banking Group, PT Bank DBS Indonesia.
The DBS MAX QRIS feature available on the CARInih application is a digital payment system using the Quick Response Indonesia Standard (QRIS) code system that provides a real time credit settlement service through a scan and pay function.
When customers wish to use the QRIS payment method, they can also pick the payment source, which is either a bank or e-wallet. When a transaction is completed, customers will get instant transaction notification through Instant Credit Notification.