With the convenience that digital wallets bring along to encourage spending, more e-commerce companies have started working with e-wallet companies, or, making their own wallets.
Indonesian business-to-business (B2B) online marketplace Ralali has launched Ralali Wallet (link in Bahasa Indonesia), a digital wallet service that lets business users on the platform earn cashback through a loyalty programme as well as to pay for transactions made on the platform, according to Daily Socialon Tuesday.
By developing its own e-wallet, it is able to standardise the experience around using the feature, making the service as seamless as possible, customised to suit the needs of its users – businesses.
Ralali Wallet can only be used by Ralali shoppers, either through the desktop platform or the brand’s mobile application. They can top up the wallet with fresh funds or cashback from previous orders. The wallet can be used to buy all sorts of goods available on Ralali, which ranges from office stationery to power tools.
One use case which Ralali highlighted was around businesses making repeat orders on its platform. For people in charge of buying goods for businesses, speed is key. The ability to select the regular items they need and pay for it without hassle will come in handy in Ralali’s customer retention strategy.
Founded in 2013, Ralali has raised at least US$9.5 million from venture capital investors, including a US$7 million Series B round of funding in September 2018 that will help expand its services to Thailand. Other payment methods listed on Ralali are: bank transfer, virtual account, credit card, instalment, Mandiri Internet and OVO.
This development comes in the midst of a bigger e-wallet boom in Indonesia, where we have seen several tech companies launch their own fintech offerings, from O2O firm Go-Jek with e-wallet Go-Pay and online financing feature PayLater, e-commerce marketplace Tokopedia’s TokoSwipe, which lets users pay via instalments, as well as another online marketplace Bukalapak with e-wallet BukaDana.
Editor: Ben Jiang