DIGITAL ECOSYSTEM DEVELOPMENT AND MONETIZATION STRATEGY FOR FINTECH PAYMENT COMPANY IN INDONESIA
Financial technology or more known as fintech can be defined as a financial sector that is backed by technology. It is an evolution of a more traditional form of financial institutions that has been shifted across the year. Back in the days, fintech used to be focused on the technology to help fi...
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| Format: | Theses |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/63842 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Financial technology or more known as fintech can be defined as a financial sector that is backed
by technology. It is an evolution of a more traditional form of financial institutions that has been
shifted across the year. Back in the days, fintech used to be focused on the technology to help
financial institutions facilitate financial activities. Nowadays, fintech is defined as a technology
that enables financial services or products for customers. One of the most widely used fintech
products is mobile wallet.
Mobile wallets come in two different forms. The first one is stored based mobile wallets in
which the wallet has its own balance that needs to be top-upped by the user regularly. Examples
of stored based mobile wallets are GoPay, OVO, and LinkAja. The second one is card based
mobile wallets which are more popular in the US and Europe. This type of wallet acts as an
extension of the users’ debit or credit card. Stored based mobile wallets are very famous in Asia,
and Indonesia is one of the top countries that has a high growth on stored based mobile wallets
usage.
The purpose of this research is to find out the future of stored based mobile wallets usage in
Indonesia. Although the future of mobile payment is promising, there is a chance of market
saturation. Another possibility that can happen is the presence of a newer product for payments.
Several technologies that can be implemented for mobile wallets are 5G and near field
communication (NFC) technology. Monetization methods for fintech payment companies will
also be researched because monetization is tricky in digital products.
The research method used is a combination of literature study and interview with subject-matter
experts in the fintech industry. The data combined from the research will be used to create a
model of an ecosystem for digital payment. This ecosystem consists of several parties that have a
role on its own to sustain the ecosystem. |
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