Paper.id, an Indonesian B2B business collection & payment platform becomes the first to provide e-meterai for its users, especially in invoicing, by becoming one of PERURI’s partners. It is also one of the big steps made by Paper.id in early 2022 to digitize B2B transactions in Indonesia.
Regarding this collaboration, CTO & Co-founder of Paper.id, Yosia Sugialam said that Paper.id wants to facilitate digital transactions that are increasingly being used by businesses. Thus, it strengthens the invoice’s validity, maintains trust between businesses and reduces the risk of fraud.
e-Meterai : An Innovative Way to Improve Business Transaction
e-meterai can make transactions easier, because businesses do not have to bother looking for a conventional stamp. Through Paper.id, they just need to buy and put it directly on the invoice. The e-meterai which has been affixed to the invoice from Paper.id can also be verified through PERURI’s application to check its validity in real time.
Paper.id, which recently won the Most Innovative Fintech award from Dunia Fintech, sees e-meterai as an innovation in collection, payments, and fintech, which also supports the government’s plan to accelerate the digitalization due to the increasingly dynamic business activities, where there are already around 15, 9 million MSMEs that have been digitized according to KEMENKOPUKM data as of August 2021 yesterday. With Paper.id, the digitization process can turn faster and invoice sending to payment can be made on one platform with automatic bookkeeping.
More than 300,000 MSME businesses who already use Paper.id can create digital invoices, affix an e-meterai and send them digitally. Invoice recipients can view affixed invoices through Paper PayIn (Buyer Portal) and make payments digitally via payment methods available on Paper.id.
If the Buyer or the recipient has also used Paper.id, through their business partner at Paper.id, then they can change the invoice automatically into a purchase invoice, making it easier for businesses to carry out the collection and purchase process. Moreover, all digital payments on Paper.id can be matched automatically against invoices, so the users do not need to do manual matching or reconciliation between invoices and payments.
Paper.id’s Future Plan to Support Businesses
Since 2020, Paper.id has also collaborated with several financial institutions to offer proper financing programs for MSME businesses and assist them in controlling their suppliers/buyers’ tempo.
For buyers, they can get a longer payment period through the Buy Now Pay Later (BNPL) product for B2B. For those who have problems with long term of payment (TOP), suppliers can disburse their invoice before the due date through a product called Get Paid Faster. By using e-meterai, it can increase the visibility and validity of digital documents which are used as funding base.
Paper.id, which already processes more than 200,000 invoices per month, sees the potential of e-meterai usage is very large and can bring significant impact on both businesses who already use Paper.id and potential users who are interested in digitizing their collection process.
“We really appreciate the government’s steps in implementing digitization and ratifying e-meterai at the end of 2021. Starting from 2022, there will be no longer any barriers for businesses to digitize business documents, such as invoices,” concluded Yosia. As is known, the e-meterai has been ratified by the Minister of Finance, Mrs. Sri Mulyani as the official Stamp Duty based on law in October 2021.