Salim Group Startup Invites Bank Mandiri to Enter Digital Bank Services
A startup made by the Salim Group, Youtap Indonesia, is partnering with Bank Mandiri to provide financial services and digital banking. Both offer non-cash payments via the Livin ‘by Mandiri digital banking application at all McDonald’s outlets.
Through this collaboration, McDonald’s held a three-day promotion and recorded transactions of more than 170 thousand. Now, the fast-food restaurant also provides cashback of up to 50% every Friday – Sunday which is valid until August.
The promotion aims to introduce and adapt Quick Response Code (QR Code) -based payment services through the Livin ‘by Mandiri application.
“The strategic partnership with Youtap is the right step that will accelerate the growth in the number of users from consumers and merchants,” said Bank Mandiri SVP Transaction Banking Retail Sales Thomas Wahyudi in a press release, Wednesday (19/5).
Youtap Indonesia is building a backend system with various application-based digital solutions such as Business Applications and Business Tablets.
Collaboration with Bank Mandiri can Strengthen Youtap Services
Youtap focuses as a merchant-centric company that provides all-in-one solutions and digital service innovations for easy transactions and business development.
Currently, Youtap has 150 thousand partners in large-scale enterprises as well as Micro, Small and Medium Enterprises (MSMEs).
“We are sure that this collaboration will be able to benefit all merchants, especially in empowering MSME players for the best business achievement,” said Youtap Indonesia CEO Herman Suharto.
“We are sure that the collaboration with Bank Mandiri will strengthen services for business partners in the Youtap network,” said Herman.
Meanwhile, Bank Mandiri continues to develop digital services amidst the rise of digital banks in the country. This red-plate bank allocated capital expenditure of IDR 1.7 for the development of technology infrastructure last year.
Antara reported, one of the technologies being worked on by Bank Mandiri was the application programming interface (API). This development will cost US$ 1 billion or around IDR 14.8 billion.
This technology allows the Bank Mandiri system to be integrated with third-party platforms, such as Youtap.
Companies Predict that QR Payment will be Massively Used in Indonesia
Youtap Indonesia, a joint venture company, Salim Group and Youtap Global, predicts that in the next three years, Indonesia will massively use quick response (QR) payment technology.
This is mainly due to the availability of an increasingly adequate digital ecosystem, trends in the use of QR technology in merchant partners, and regulatory support from the government.
Youtap Indonesia CEO Herman Suharto said, currently, his party continues to encourage and educate merchant partners in Indonesia to use QR technology in the payment process.
“Currently, we have 150,000 merchant partners spread across Indonesia. In the future, we will continue to collaborate with other merchants and encourage them to use QR technology in the payment process,” said Herman.
According to Herman, the use of QR payment technology continues to increase in Indonesia. In fact, he predicts that in the next three years, payments in Indonesia will be dominated by QR Payment technology. This is also supported by adequate government regulations.
“If I look at it, based on the current adoption trend, maybe in the next three years, QR Payment will be dominated. We’re on our way. The application of QR technology has been standardized by the government,” said Herman.
The adoption of QR technology, he said, has not only been adopted by e-wallet platforms, such as OVO, GoPay and the like, but has also been adopted by banking applications.
“For our merchants, we use QR payment technology by 20-25 percent every month. We keep pushing towards it. In fact, our partners, such as banks, already have a QR bottom in their application. So, in the future, the use of QR payments will continue to increase,” explained Herman.
Herman added that Youtap wants to be a merchant-centric platform. This means that all services developed will be focused on providing convenience for merchant partners. In fact, Youtap provides end-to-end solutions to merchants.