Impact of COVID-19 on Businesses and the Role of Digital Payments

Economic Effects

• COVID-19 has heavily affected businesses, leading to a global recession.
• Supporting the economic cycle securely through digital payments is essential.

Importance of Digital Payments

• Food as a Necessity:

  • Food is an everyday necessity, and online grocery orders are crucial for supporting SMEs and local farmers.
  • Digital payment methods facilitate safe transactions during the pandemic.

• Safety in Transportation:

  • Online transportation bookings minimize physical contact between riders and drivers.
  • Digital payments provide a safe solution to avoid direct contact.

• Dining Concerns:

  • Dining out poses a severe concern due to high physical contact risk.
  • Using digital payments significantly lowers the risk of spreading the virus.

• Public Transportation Efficiency:

  • Digital payments are faster and more secure than traditional methods, saving time at stations.

E-commerce and Mobile Payment Growth

• In Indonesia, e-commerce transactions increased by 18.1% since the outbreak.
• Both buyers and sellers are moving online to ensure survival.

Health and Well-Being

• Online workout apps with easy payment systems contribute to improved well-being.
• Accessibility to online medical services is enhanced by digital payment systems.

Support for Artists

• Mobile payment options like Canto provide support for artists in need.
• Streaming services like Netflix experienced a 140% surge in usage during the pandemic, facilitated by digital payments.

Conclusion

• The acceleration of digital payment adoption limits physical contact compared to traditional methods.
• This shift is beneficial for all economic players and crucial for preventing the spread of COVID-19.
• Adopting digital methods may be challenging, but both consumers and producers must transition to digital to navigate through these times.