Have you ever heard or used the E-Toll facility? Or maybe you often use Go-Pay and T-Cash payment tools? All three are examples of cashless transaction methods that are now quite popular in Indonesia. Various ways of cashless payments are now starting to emerge in the Indonesian economy to support the growth of the cashless community. Before discussing the cashless system in Indonesia, let’s start with a brief explanation of the notion of the word cashless itself.
Literally, the word cashless means no cash. The cashless system can be interpreted as a system where all transactions no longer use cash / physical, but through electronic media such as debit cards and virtual wallets. Although this system starts to be mobilized in the hope of bringing benefits, in fact there are disadvantages too. Here are a number of advantages and disadvantages of a cashless system.
Advantages of Cashless Systems
Comfortable and efficient
When compared to using cash, the cashless payment method is designed to be more comfortable to use. Not only by swiping cards, now some cashless payment methods only require a tap system such as T-Cash, Flazz, Brizzi, etc. Not only comfortable, this method is also considered more efficient in terms of time and effort.
This advantage is one of the main reasons for the implementation of the E-Toll system, hoping to reduce congestion due to the toll payment queue. Some toll gates in the capital even only accept transactions using E-Toll to reduce traffic jams, such as the Senayan toll gate. There are also payment methods using smartphones with NFC features that are still not popular in Indonesia. With these features, you only need to tap your smartphone to an EDC (electronic data capture) machine to transact. In addition to the cashless system, you no longer need to worry about thinking about change because the amount of money cut is right, according to the number of your transactions.
Simplify in Reviewing Transactions
Have you ever been unable to remember where your expenses were, for what money was used? By making cashless transactions, your transactions will later have traces and can be easily tracked. Starting from the number of transactions, places, and also time, all the information you can get easily. The ease of tracking is also a means for you to be able to control transactions that are carried out so that there is no abuse whatsoever and start cutting expenses when it is excessive.
Various Offers and Promos
Some cashless transactions in Indonesia today often offer offers and promos with certain brands that work with them. These promos can help you save money. But keep in mind that each type of cashless product works with different vendors and is designed for different markets. For example on T-Cash products that provide promos in several fast food restaurants and also in theaters. At present, a variety of cashless products continue to emerge and cause high competition. You can learn which vendors are offering before committing to certain cashless products.
Not only that, the payment system through GO-Pay or Grab Credits for example, can give you the opportunity to transport to and from work. You can get additional discounts that are very attractive, and gradually begin to cut your expenses from simple things.
Lack of Cashless Systems in Indonesia
Tends to be more wasteful
By using the cashless method, of course you do not use money in physical form. This can eventually change your shopping habits. When paying with cash, you certainly spend a conscious amount of money physically. Whereas when you use the cashless method, even though you know you have spent money, the transaction does not occur physically. This results in reduced awareness so there will be a tendency to continue to spend money and eventually lead to waste. To prevent this, you need to see the balance that is still held every time you make a transaction. This is to provide awareness of the amount of money that is still owned and reduce the risk of waste.
Need for Understanding Technology
Because cashless methods are based on electronic systems, users need to have sufficient understanding of the technology and its use. The cashless system requires users to be able to interact and use electronic devices in the form of ATM machines, EDC machines, and smartphones . This can be an obstacle for some people who are not accustomed to using technology, such as the elderly and baby boomers who are still numerous in Indonesia. This is one of the main causes of cashless transactions in Indonesia still centered in the capital. In addition, it is likely they will be more difficult to trust the cashless system so that it will be more difficult to change the behavior of their transactions. Users are required to be technology literate and provide education evenly cannot be done in a short time.
If the Lost Card Will Be Very Harmful
One risk of a cashless system is if the card is lost. Just imagine if you just did a top up with a certain nominal, then the card was accidentally lost. Some cards do not facilitate you to back up funds to a new card, so the money will just disappear. Therefore, make sure to store the card properly, it doesn’t hurt to put a card around the neck or attach the card to the cellphone casing. Don’t miss out, don’t top up too much money, because besides being dangerous, of course to avoid bad things like this.