Bank Mandiri Launches POS Solutions Through Livin' Merchant

PT Bank Mandiri Tbk is exploring Point of Sales (POS) solutions through the launch of the Livin' Merchant application which targets the SME business community. The Livin' Merchant application was released last month and claims to have 500 thousand users.

"There have been 500 thousand users in one month. This is high," said Bank Mandiri Network and Retail Banking Director Aquarius Rudianto, quoting fromDataword.

Livin' Merchant is digital cash register or POS which is equipped with a number of features. Starting from registering a merchant account, product catalogs, accepting payments with various methods, including QRIS, to online stores that make it easy for merchants to sell products to buyers.

In other words, the needs of the business sector both online and offline can be accommodated by Livin' Merchant. Not only that, other features such as recording sales, checking product stock, and disbursing direct sales money are disbursed on the same day.

Quote from official site, this solution can be used by all Bank Mandiri customers who have businesses, without being charged a subscription fee. For registration, there is no need to come to the branch office because the application can be downloaded directly via a smartphone device.

Data that needs to be prepared: a smartphone device with a minimum OS Android 7 (Nougat), Bank Mandiri account number, and an active cellphone number to receive OTP. Currently only available for Android devices.

The series of features above are actually also offered by startup players, be it Moka, Qasir, iSeller, Majoo, Olsera, Pawoon, and others.

Quote from The report of Statista, the transaction value in the POS market in Indonesia is projected to reach $4,75 billion in 2023. With a projected annual growth rate (CAGR 2023-2027) of 14,4%, the value is estimated to reach $8,14 billion in 2027.

Statista also estimates that the number of POS users can reach 68,24 million users in 2027. Comparing global data, the highest transaction value was achieved by China with $ 1.649 billion in 2023).

Achievement of Independent Livin'

In an official statement, Bank Mandiri also explained the achievement of Super App Livin' by Mandiri for the retail segment. Starting this year, the application can be used by people from around the world, from Hong Kong, the United States, South Korea, the United Arab Emirates and 120 other countries.

Currently, nearly 3.000 are recorded merchant billers connected with Livin' by Mandiri which are spread throughout Indonesia. The app comes with more than 70 new features or an average of two to three new features per month. This achievement is claimed to be the highest compared to other digital and conventional banks in Indonesia.

One of the popular features is the presence of QRIS payments at more than 21 million merchants with a choice of savings and credit card sources through Livin' by Mandiri.

This application is also equipped with useful financial features to increase customer investment, including Plan Savings or savings plan, deposits, purchases of mutual funds, and retail securities (SBR). Apart from that, it is also equipped with purchasing airplane tickets and other lifestyles through the Sukha feature.

As of June 2023, Livin' by Mandiri has been downloaded more than 28,4 million times, managing more than 1,3 billion transactions, an increase of 70% (yoy). Meanwhile, the number of transactions reached IDR 1.500 trillion, up 65% (yoy). This increase is in line with the need for financial solutions for more than 19,3 million active users spread across Indonesia and the world.

"The increase is due to QRIS, various conveniences, and many features. Every month there are always changes or additions to features," said Aquarius.

The company plans to launch the feature soon paylater with the aim of expanding the ecosystem digital lending and assist in managing customer cash flow. "The goal is to prevent people from getting illegal loans." he said.