Online transactions have become more common in the digital age. Ever since the pandemic arrived, it has accelerated the digitization process in literally all fields including business. At a time when people's mobility is becoming more and more limited, online transactions become an option to meet various needs ranging from primary needs such as food, drinks, and other household supplies to tertiary needs (gadgets, automotive, or other hobbies).

Statistics show that e-commerce users in Indonesia are predicted to grow by 15% in 2021 while in the previous year, there were 138 million users. It means that in this year, the number of e-commerce users in Indonesia is predicted to reach 159 million users.

Understanding that number, we know that more consumers have already gotten used to doing online transactions. As a business owner, this is an opportunity to not to be wasted while keeping adapting and improving your business for the future.

Benefits of Online Transactions

There are many benefits that you can get by activating online transaction services for your business, including:

1. Providing practical payment system

   Online transactions provide convenience for both consumers and business owners. This is because online transaction payment systems such as BRIVA and Direct Debit allow an instant process of payment verification. Consumers don’t need to manually send their proof of payment. So as a business owner, you don’t have to manually record it as well. This process can minimize errors that may occur due to human error, such as incorrectly entering buyer data or losing records due to damaged files.

2. Reducing human resources’ need

   Instant verification processes will certainly reduce the need for human resources on your team, especially to do the bookkeeping process. Thus, your work as a team will be easier. You can even allocate your resources to other needs.

3. Providing a sense of security for consumers

   A trusted online transaction system will give consumers a sense of security notably when making payments since they have legal evidence when doing transactions. 

   For example, in an e-commerce business, payment funds will not be sent to the seller if the goods have not been received by the buyer. This can reduce the possibility of fraud that can be carried out by dishonest sellers.

   If your business can provide a trusted online transaction system, it will certainly make your consumers feel more protected and boost your business image.

4. Reaching a wider range of consumers

   By presenting online transaction services, your consumers will not be limited to those who are around your offline store. You can present your product to anyone through the internet with no worries. It is because online transactions allow consumers to buy whatever they want directly from your website or application.

   One thing you should be aware of is to make sure your business already provides various delivery options that allow reaching particular areas. For example, if you are targeting the international market, you should be able to reach it by international shipping services.

5. Doing easier promotion

   In running a business, you shall have a crystal clear marketing strategy that needs to be updated regularly. By providing online transaction services, you can present promos and discounts that cater to your target consumers. Furthermore, you can analyze the habits of your consumers when making digital transactions to create appropriate promos.

6. Increasing customer retention rate

   To be able to transact online, consumers have to register on your website or application. When doing that, they must fill in their personal data such as name, delivery address, phone number, and email address. You can ask consumers first if they would or would not agree that the personal data will be used for marketing purposes. 

   One clear example is the use of email address data for newsletter delivery and customer satisfaction assessments. You can send questions to consumers about how they rate your product. You can use their feedback as a benchmark to continue to improve your products or services.

   Besides, you can send newsletters containing promo offers that are related to the products they previously purchased. For example, if they previously bought shoes, you might be able to offer them shoe polish products you sell.

   This pattern is called customer retention. After they make their first purchase, we successfully invite them to make a second one and forth because they are satisfied with our services while feeling close to us. Of course, this will be easier to do if you have an online transaction service rather than just relying on offline visits.

7. Providing fast and easy integration

   No more worries on building a complex system to provide an excellent online transaction service for your business. With BRIAPI, everything can be done in four easy steps. 

   First, register yourself through the BRIAPI website and fill in your personal data. After that, we will give you access to the BRIAPI sandbox.

   The next step is, start developing your application in the sandbox. Then you just have to go through the document verification process. It will be carried out by the BRI team. After completing the verification process, your application or business website will be directly integrated with our various payment services ranging from BRIVA (BRI Virtual Account), Direct Debit, transfers between BRI accounts, up to transfers to other bank accounts.

   With BRIAPI, you can also provide various other features such as BRIZZI refill and balance checking services, checking information about account mutation, balance information, and information related to foreign exchange.