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Research: Most MSMEs Use Cash for Financial Transactions

Vika Azkiya Dihni 25/07/2022 14:00 WIB

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Research conducted by fintech company Amartha and the Katadata Insight Center (KIC) shows that the majority of Indonesian MSMEs still use cash for financial transactions.

MSMEs Using Cash/Non-Cash Services for Financial Transactions (2021)

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Research: Most MSMEs Use Cash for Financial Transactions

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MSMEs Using Cash/Non-Cash Services for Financial Transactions (2021)

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Research conducted by fintech companies Amartha and the Katadata Insight Center (KIC) shows that the majority of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia still use cash for financial transactions.

The research, titled *Indonesia Grassroots Entrepreneurs Report 2022*, shows that approximately 85.6% of MSMEs still use cash for financial transactions. This indicates that many MSMEs are still unfamiliar with digital financial services.

Meanwhile, 14.2% of MSMEs use both cash and non-cash transactions, and only 0.2% use non-cash transactions.

According to the research, there are three main reasons why non-cash services have not become the primary choice for MSMEs, especially those in rural areas.

First, MSMEs are afraid of making mistakes when using non-cash services. Second, they lack confidence in non-cash and digital products. Third, they do not know the features and how to use them.

This research used a survey method with 402 respondents who own micro and ultra-micro businesses. These MSME actors live in South Sumatra, Lampung, West Java, Banten, Central Java, Yogyakarta, and South Sulawesi.

The survey was conducted from November 1-8, 2021. The margin of error is approximately 4.9%, with a 95% confidence interval.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Research: Most MSMEs Use Cash for Financial Transactions

Research: Most MSMEs Use Cash for Financial Transactions

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Research: Most MSMEs Use Cash for Financial Transactions

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