Shorten documents billing process and other financial agreements

Compared to conventional signatures, electronic signatures certainly has several benefits. Some of them are:

• Reducing costs
• Saving time
• Better Security
• Increasing Productivity
• Environmentally friendly

• Explains the parties involved to avoid any evasion
• The debt’s nominal is clear so that the paid amount is appropriate
• A clear timeframe so that the parties know when this agreement begins and ends
• Describes the payment method
• Reduces the risk of conflict related to the description of rights, obligations, and penalties

Fintech, according to the OJK, is an innovation in the financial services industry that utilizes the use of technology. As a result, consumers can use aspects of the financial services more easily and quickly. Starting from payments, fund transfers, loans, fundraising, asset management, and many other functions.

Fintech is an industry that requires a lot of documents. Whether for registration, operations, and so on. Taking care of them manually one by one can certainly takes up your time and energy. You can take advantage of Mekari Sign’s document automation service for free to save operaional time.

Payment gateway is a technology that allows sellers and buyers of a business to make quick transactions via the internet anytime and anywhere. This technology has the ability to authorize many payment methods directly. Starting from bank transfers, credit cards, e-wallets, or other payment methods.

1. Consumers make transactions at online stores or e-commerce, then they can choose a payment method with the payment gateway
2. After the consumer makes a payment, the system will forward the information to the relevant party. For example, a consumer chooses bank transfer A, then the system will deliver it to bank A
3. Next, the system forwards the transaction information to the card owner that the consumer uses, such as Visa, Mastercard, or other cards
4. Then, the card owner will approve the transaction and the system will forward the information to the seller
5. Finally, the system will send transaction approval information to the bank. Then, the funds will be transferred directly from the buyer’s account to the seller’s account

In Pasal 3 Ayat 2 in Government Regulation No. 86 of 2021, a list of documents that need to use a stamp duty are:

• Memorandum of Understanding (MoU), letters of recommendation, statement letters
• Notary deed and grosse (original copy of the original deed)
• Deed of PPAT and its copy – Confidential documents in any name or form
• Securities transaction documents in any name or form, including future contract transactions
• Bidding documents, including quotations, minutes, copies and grosse
• Documents stating an amount of money that is greater than 5 million rupiah, which mentions the receipt of money or contains the receipt of payment or settlement of debt in whole or in part
• Other documents as referred to the UU Bea Meterai (Stamp Duty Law)

Commercial paper is a money market instrument that is issued by non-bank corporations with a maximum tenor of 12 months and registered at Bank Indonesia. This letter can be an alternative source of short-term funding for non-bank companies. In Indonesia, commercial paper is also known as Surat Berharga Komersil (SBK).

SBK issue and transaction regulations are contained in Bank Indonesia Regulation No. 19/9/PBI/2017 regarding Commercial Paper Issue and Transactions in the Money Market. BI’s authority is also in line with Pasal 70 of UU No. 8 of 1995 concerning Capital Markets.

According to the policy contained in UU No. 10 of 2020 concerning Stamp Duty; a 10,000 stamp duty will be imposed on documents declaring an amount of money with a nominal value of more than IDR 5,000,000.00 which:

• Mention a receipt of money; or
• Contains an acknowledgment that the debt has been fully or partially paid or calculated