Impact of COVID-19 on Businesses and the Economic Cycle

Introduction

• COVID-19 has caused a global recession.
• Digital payment systems can help support the economic cycle.

Importance of Digital Payment

• Supports small and medium enterprises (SMEs) and local farmers.
• Facilitates safe transactions for everyday necessities (food and groceries).

Digital Payment in Daily Life

• Encourages staying indoors while still allowing essential activities.
• Reduces physical contact when booking online transportation.
• Ideal for dining out to lower the risk of spreading the virus.

Public Transportation

• Digital payments are faster and more secure.
• Saves time compared to topping up at stations.

E-Commerce Trends

• In Indonesia, e-commerce transactions increased by 18.1% since the outbreak.
• Shift towards online platforms for survival among buyers and sellers.

Health and Wellness

• Online workout apps allow for easy payment systems, improving well-being.
• Access to online medical services is enhanced through digital payment.

Supporting Artists

• Mobile payment platforms provide more options for donations (e.g., CanToDonate).

Entertainment Sector

• Significant increase in streaming services like Netflix (140% surge in usage).
• Digital payment was crucial for this growth.

Conclusion

• Adoption of digital payment accelerates to minimize physical contact.
• Essential for all economic players to prevent the spread of COVID-19.
• Both consumers and producers need to embrace digital solutions to navigate challenges.