Indonesian millennial youth prefer non-cash transactions

Jakarta (ANTARA News) - According to surveys, most of the Indonesian millennial youth prefer transactions through non-cash system, such as using debit cards, credit cards, and electronic money.

The conclusion was made as a result of research by digital publishers and JakPat Mobile Survey, according to Joe Wadakethalakal, CEO and Co-founder, via a press release here on Thursday.

"From the research, we found that 63 percent Indonesian millennial youths require credit cards, and 66 percent admitted it was difficult to know which credit card best suits their needs," stated.

The research was conducted on 1,021 respondents aged 21 years to 37 years in 34 major cities in Indonesia. It also found that the majority of millennial credit card expenditures are mostly for electronic devices (27 percent), food and beverage (25 percent), traveling (23 percent), and fashion (15 percent).

"Therefore, we launched FULUS, an online platform that will help millennials make financial decisions by comparing various credit card products on the market," he added.

Joe remarked that everyone has different needs, and every credit card offers different benefits.

Therefore, FULUS will provide a complete comparison of credit card facilities, terms, cost and fine information, comparative advantages and disadvantages, and credit card recommendations as necessary.

FULUS will provide recommendations with the best credit card grouping for travel, dining, cashback, retail, low interest, rewards, first card, and many more.

This way, traveling enthusiasts, culinary enthusiasts, fashion enthusiasts, and women who wish to do beauty treatments will be able to understand which credit cards provide the most benefits for their needs, he revealed.

FULUS is set up as a result of the cooperation of with a newly established financial technology company, Cermati.

Cermati provides support in terms of banking data and credit card application submission process.

Source: ANTARA News

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