The development of blockchain technology is giving hope for small and medium enterprises. Money remittance services in Indonesia are starting to gain hold among business owners. The services offer benefits like smaller fees and faster transfer, and they are more convenient for business owners who regularly use mobile devices. Here’s a look on how remittance services like are beneficial for small businesses.
Benefits of Money Remittance Services
A 2018 survey by Asia Pacific Foundation of Canada revealed that 95 percent of small and medium enterprise owners in Indonesia rely on mobile devices. The numbers showed the rising reliance on practical, convenient technology to run and develop a business. Conventional banks may offer transfer services to abroad, but they are still slow and impractical compared to actual remittance services.
Switching from a traditional remittance service to a digital remittance company Indonesia could bring benefits for developing enterprises. Some of the upsides include:
Lower Transfer Rates
Conventional banks charge up to USD30 of transfer fees, which are burdensome for small and medium enterprises in Indonesia. Remittance services allow business owners to save up to 80 percent of the fees. They make it easier for ordering goods, buying licenses, and doing general transactions.
Remittance services allow customers to transfer quickly. Depending on the destinations and origins, transfer times range from real-time to 24 hours.
Easy and Convenient Transactions
Remittance services offer easier transactions for business owners. Instead of going to the banks, business owners can access the services through website. They are perfect for business owners who depend on the internet to run the enterprises.
Worldwide Transaction Coverage
Remittance services make it easy for business owners to conduct financial transactions to other countries. This means that business owners have bigger chances to grow, serving more customers from different countries.
Reports by Indonesia’s Department of Economy shows a steady growth of small and medium enterprises. These enterprises showed 13.98 percent of raise from 2012 to 2017, and these numbers are expected to rise. Such potentials open more opportunities for remittance services to gain popularity in the country.
Best Remittance Service Solutions for Growing Enterprises
Transfez is a great solution for growing small and medium enterprises. The remittance service tackles all the common problems of transferring funds to other countries. Unlike many similar services, Transfez does not have hidden fees, with much lower transfer fees than conventional banks.
Transfez also offers full mobile services, allowing business owners to finish all the transactions through website or apps. The money arrives to the destination accounts in short amount of time, reducing risks and saving more time in transactions. The transfer fees can be 80 percent cheaper than conventional banks.
Transfez has recently undergone a rebranding process, expanding its services from personal transfers to business transactions. Small and medium enterprise owners in Indonesia can use this service to develop their businesses at lower costs.
The rising popularity of tech applications in small and medium enterprises are beneficial for Indonesian entrepreneurs. Digital money remittance services in Indonesia allow business owners to conduct faster, cheaper international transactions. Transfez is one of the cheapest and fastest remittance services Indonesian business owners can use to grow their enterprises.