JAKARTADAILY.ID – Paper.id a full-stack B2B payment platform and PT Bank Muamalat Indonesia Tbk collaborate to accelerate digital transformation for businesses in Indonesia, especially in the field of transparent, fast, safe and sharia-based business financing that can be enjoyed by business actors.
Paper.id CEO & Co-founder, Yosia Sugialam said that this collaboration itself is expected to help business actors in conducting inter-business transactions & funding processes.
"We really appreciate the vision and spirit of Bank Muamalat to encourage business digitization in Indonesia. Together with Bank Muamalat, we not only reduce the cost & time to conduct transactions between businesses, but at the same time provide transparent and Sharia-based supply chain funding," said Yosia in a press release, Friday June 24, 2022.
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The collaboration between Paper.id and Bank Muamalat makes it easy for business actors to access invoice-based business funding or business transactions.
In this case, the exchange of documents is centralized on Paper.id and carried out digitally, so that the transaction history and validation of suppliers, buyers, and transactions can be carried out in one place, so that funding is appropriate.
Bank Muamalat Chief Wholesale Banking Officer Irvan Yulian Noor said, as a pioneer in the sharia industry in the country, he wanted to present a comprehensive solution for customers, especially in the corporate and commercial segments.
"Bank Muamalat is collaborating with Paper.id to develop a value chain system that makes it easier for customers (suppliers and buyers) to access digital-based business products," he explained.
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The value chain system itself is a platform that can be used as a customized solution for anchors and their business partners.
This system can adapt to payment methods and patterns of buying/selling anchors with business partners, so that rules are needed in the form of technical instructions for implementing comprehensive trade finance transactions.
"The circulation of customer's business money becomes smoother because payments and purchases of business goods through the application of working capital funding to banks are carried out digitally and of course in accordance with sharia principles. And what is no less important is that this system mitigates human errors in the process of checking documents, monitoring and reporting," he said.
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