Student Identity

Name : DJODI SATRIA WIRA YUDHA

FAIZAL ARDANI
MUHAMMAD RIZQI HIDAYATULAH
MUHAMMAD ARSY YOGATAMA
ZAHROTUNNISA’
MASYITHOH YUMNA A
SARAH ZAHWALISA
DESTI AYU WULAN SUCI
KARTI
GILANG KURNIAWAN
NPM : 19.0201.0026
19.0201.0047
19.0201.0053
19.0201.0014
19.0201.0009
19.0201.0048
19.0201.0045
19.0201.0056
19.0201.0005
19.0201.0057
Departement/semester/class : LAW/I/A

Key word for the text : Electronic Payment in Indonesia

Paste the article with picture from news paper/magazine :

Cashless Payment, For all its Convenience, Cause for Concern among Jakartans

Cashless payment systems have become extremely popular lately, as they provide ease
and comfort compared to traditional cash payments. However, they have also generated
concern among users over potential disruption of electronic transactional systems.

App-based transactions make everyday life less stressful for Nia Rakhmayanti, a 25-year-
old student from Depok.

“I left my wallet at home some time ago. However, I did not feel as terrified as I used to,
because now, as long as I bring my mobile phone, I can easily ‘survive’ without my
wallet,” she told The Jakarta Post on a recent Sunday.

She also shared her friend’s experience with cashless payments: “A friend of mine even
only realized that she had lost her wallet two days later, because she always used cashless
payments through her mobile phone to pay for her daily needs.”

However, after hearing about the rise of digital fraud, Nia only keeps a relatively small
amount of money in her electronic account, also known as digital wallet or e-wallet. “One
of my friends got scammed and lost Rp 300,000 (US$21) from her e-wallet several years
ago, since then I never put a lot of money in my digital wallet,” she said.
Siti Khasanah, a housewife from South Jakarta who frequently uses e-money because
some public places and facilities in Jakarta no longer accept cash, said she would never go
fully cashless because of several concerns.

“I have to use an e-money card issued by a state bank to pay tolls. However, recently, I
had to use an e-money card from another bank to buy an entry ticket to the Ragunan Zoo,
because the zoo only accepts electronic payments from that specific bank,” she told
the Post, adding that she also had to use QR payments, because certain malls in the capital
required them to pay parking fees.

Another lesson learned for her is that cashless payment systems are prone to technical
disruption.“We were in trouble recently when the power went off for hours in Greater
Jakarta. E-money was effectively useless at the time. That’s why I always keep cash in
my wallet at all times,” Siti said.

She also expressed concern about personal data safety, because many scammers had
called her husband offering fake promotional products, even asking for the OTP code for
his e-wallet.

“I have no idea how the scammers obtained his personal data, like his phone number and
name. They offered him discounts, gifts and even persuaded him to reveal his OTP code.
Fortunately, he never fell for their tricks,” Siti said.

The Indonesian Fintech Association's director of public policy, Ajisatria Suleiman, said
even though e-money issuers had been using the Payment Card Industry Data Security
Standard (PCI DSS), a set of security standards designed to ensure that companies that
accept, process, store or transmit credit card information maintain a secure environment,
they needed to be less reluctant to adopt new technologies that could protect their
customers better.

“Educating customers about digital safety is hard and would take a long time; it is more
effective for e-money providers to update their safety technology, for example by using
biometric data or artificial intelligence,” he said, adding that technology adoption was not
as good in Indonesia as in other countries, like China and the United States.

Even though there is currently no single technology that can prevent digital fraud and
cybercrime, Aji expressed hope that e-money providers would be keener to experiment
with new technologies to keep their customers safe.

Since the government launched cashless campaigns in August 2014 in an effort to make
Indonesia a less-cash-society (LCS) country, the volume and transaction nominal of e-
money has seen a significant increase. Bank Indonesia (BI) data show that there are
currently 24 e-money issuers from nonbank institutions and 12 issuers from banks.
A cashless payment culture has also been developing in the country. A 2017 study from
Visa’s Consumer Payment Attitudes found that 76 percent of Indonesians say they can go
without cash for an entire day. The same study showed that 57 percent of Indonesians
carry less cash, because they use electronic payments more often. Some 60 percent of
respondents said that they would like to eliminate entirely the physical process of paying.

Meanwhile, BI data reveal that the number of e-money users from nonbank issuers in the
country has reached 113.5 million, nearly twice the 60.3 million users from bank issuers.

BI plans to push the cashless trend further with the Quick Response Indonesia Standard
(QRIS) code system, which was launched on Aug. 17 and is aimed at universalizing
cashless payments.

The head of Bank Indonesia’s Jakarta office, Hamid Ponco Wibowo, said the QRIS code
system would make cashless transactions easier and more efficient.

“Merchants no longer need to provide a lot of barcodes for cashless payments, QRIS
enables customers to use one QR code, no matter what type of QR payments they are
using. This will make cashless payments more efficient,” he said on Aug. 21.

Hamid said e-money issuers had to change their QR codes to the QRIS standard by 2020,
adding that major e-money issuers in Jakarta were slowly adopting the system.

Nia said she welcomed the QRIS system, as it would make cashless transactions easier.
“Sometimes shops only accept certain types of e-money, which I don’t own; with this
system, I would no longer have such trouble,” she said. (nal)

Source : https://www.thejakartapost.com/news/2019/09/02/cashless-payment-for-all-its-
convenience-cause-for-concern-among-jakartans.html?src=mostviewed&pg=/#_=_

Jakarta / Mon, September 2, 2019 / 01:12 pm

Giving comments (about 10 sentences) :

1. Electronic money is defined as an electronic store of monetary value on a technical

device, that may be widely used for making payments to entities other than e-money
issuer. The device acts as a prepaid bearer instrument which does not necessarily
involve bank accounts in transaction.

2. The benefits of using electronic money as a transactions are faster transaction,

convenient or handy, free from change money, we don’t need to go to ATM, and
safer from pickpocket.

3. The lacks of using electronic money as a transactions are we became wasteful person
and increasing the cyber crime.

4. Because in Indonesia e-money is still become the second payment tools so majority of
Indonesian people will never do full cashless in lifestyle because not of all store will
accept e-money as payment.
Giving comments (about 10 sentences) :

5.

Typing hard vocabularies and translated:

Typing hard vocabularies and translated: