Indonesian small and medium enterprises (SMEs) could book new business growth this year by leveraging cashless payments and social media, as the COVID-19 pandemic continues into its second year, according to a study by homegrown ride-hailing giant Gojek. The study showed that contactless payment volumes have risen exponentially since last year. Bank transfers rose 345 percent, pay later credit payments 290 percent, Quick Response Indonesia Standard (QRIS) payments 180 percent and GoPay e-wallet transactions 97 percent. “Since the pandemic, there has been more demand for cashless payment. Even warung [food stalls] now have contactless payment options,” Gojek head of merchant platform business Novi Tandjung said during a press briefing on Tuesday. She cited a 2019 Facebook study that projected per capita online spending in Southeast Asia would grow over threefold betwe…
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