e-Money Implementation Barriers and Challenges: A Case of Indonesian Interbank Network Company

摘要

The development of e-Commerce triggers the use of e-Payment as a payment instrument in online shops. XYZ company as one of the payment solution provider in Indonesia developed an electronic money product named e-Money M. By the end of 2014, e-Money M users had only reached 1.25% of total users targeted in the business plan. This research is intended to identify the barriers and challenges e-Money M. Data was collected through questionnaires and interviews. The survey respondents are 125 e-Money M users. The qualitative data was collected through interviews to the e-Money M development team and customers. The research evaluated six challenges and barriers of e-Money M implementation namely user acceptance, security, infrastructure, socio-cultural factor, user convenience and user preference. The result from the questionnaires show that user preference is the most significant barrier faced by e-Money M implementation. From the interviews, we found the reasons of lack user tendency choosing e-Money M are the limitation of merchants, limitation of access method and limitation of transaction channel. From management view, it was found that e-Money M has difficulty in acquiring customers caused by lack of experience in B2C business and competitor?s strength customer?s base.