Such a payment facility had only been available on two platforms: credit card and local bank transfer. The new service would help the businesses of around 57.9 million small and medium enterprises (SMEs) nationwide, most of which rely on social media for advertising, including Facebook, thejakartapost.com reports.
Mandiri’s financial report shows that its fee-based income stood at USD 700.85 million throughout the first six months of 2016, rising by 14.5% on an annual basis. Large parts of that figure came from administrative fees and transfer and retail transactions.
Mandiri also expects the ease in advertising will drive the number of its customers higher, including funding customers that use its debit cards. It currently has 17 million customers, which is expected to soar to 20 million by the end of 2016. It has also circulated over 13 million debit card users, with an average of 7 million debit transactions per month.
Facebook Indonesia has 88 million users. According to data provided by the Communications and Information Ministry, the value of digital advertisement in Indonesia reached USD 830 million in 2015, with more than half enjoyed by Facebook and Google.
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