BASIC|LUDO sees ‘cashless’ is a currently emerging terminology which represents today’s people behavior. The behavior in which we believe have already existed before the term “cashless” is massively used. Departing from the need of convenience in finance service, there’s a strong urge to meet the value added on the offered service by banks. What we encounter today is a result of constant development of people behavior cycle; as well as the need and service features. And brand slips in among those developments; adapting the core idea of cashless society.

Finance and business service players are the first to respond to this phenomenon before the brand takes to be in charge furthermore. Long time ago, finance business was only under the banking institutions, be it in a form of policy or a service breakthrough for the customers. The competition seemed very low, creating innovations which was only two-ways. It gave the usage value for the banking institutions and the service beneficiaries, that is the society. Technological development, findings, and people behaviors push these institutions to discern any possibility in which they need to take further; as an attempt to sustain the business existence.


Cashless Society From Time To Time
Trying to look back how cashless society develops from time to time. Starting from the system of monetary policy. The emerge of central institution to rule our rupiahs system. The system which appears from the people behavior in the transaction. The idea of conceiving new ideas and innovations are improving to create tools which enables the easiness in every financial activity; nothing but technology.


Central bank of Indonesia, Bank Indonesia, then created an infrastructure for a large amount of money. Clearing payment instruments, in such forms like marketable securities, money order, credit transfer, and cheque. This is a form of early transaction, long before we can transfer money as we have today. The thought of cashless has already established long time ago. Then it is manifested by the banking institution by banking institution with system and policy.

After that, the developed technology shifts into transaction with no cash but credit card and debit card which are used until today. Visa and Mastercard are just two examples of them. It was started from Dinners Club by American Express and then was expanded to be Bank of America credit card. This card-based transaction is developed in internet network to create easy transaction on each of the bank sites. Bank Central Asia (BCA) was known as the first bank that employed internet banking. With its klikbca, it also became the pioneer of mobile banking which only can be accessed on site and cellphone application. And after that, some other bank institutions followed the service offered by BCA.

The massification of financial service then heads back to competitions in the rapid growing market. It plays the survival pattern game as a financial business entity doesn’t guarantee the expected sustainability. Preparing the brand entity of cashless service is the choice which later is taken to sustain among the cashless society. Being a brand, in our assumption, means reckoning on strategy to switch role the business entity into a brand. It’s defined well in many people’s minds. The embodiment is seen from the brand response toward people behavior: service feature is also improving. 


Cashless financial service started from clearing payment instrument.This is the bond-based financial transaction. Then the transaction expanded to card-based, online-based, and app-based. The fintech development then is no longer become the competition among banking institutions. Fintech start-ups became newcomers to enliven the competition in the market. This has led “turning your business into a brand” become an urgency. These kind of financial technology does not only shaping our society as the recent cashless society, but also becoming the introductory language of brands to strengthen themselves in the middle of market competition (cashless society).


We see the existence of newcomer fintech challenge the position of existing fintech products produced by conventional banking institutions as the incumbent. The incumbents do not only stay still; they keep innovating, trying to make the brands sustainable. The presence of new names brings the identity of cashless service platform. This responds specifically to today’s cashless behavior, switching the role of their entity in 4.0. industry to be brand, where the novelty of the innovation products exist.



There are two most important things for brand to prepare the right strategy to be able to stand out in crowd of cashless society. Summing up from the explanation above, the brands need to understand the subject and respond to the subject. A mutual conversation between two subjects (brand and the cashless society) makes the mutual relation is possible to establish. The conversation and relation are possible when there is an identification and response from brands to people (audience). And eventually we can draw a conclusion that brands have to be cashless on the behavior before going to be cashless service brand.