The Use of Contactless Payment in Indonesia (PRO)

The first contactless cards in the UK were issued by Barclaycard in 2007. As of December 2014, there are approximately 58 million contactless-enabled cards in use, in the UK, and over 147,000 terminals in use though this is growing in numbers and percentages of adoption. Pros and cons happen with the idea of making contactless cards in Indonesia, for this case, e-money. I am standing on the pro side. Here I am trying to answer questions that given to me:

Could we use it / apply it in Indonesia?

SURE we could. The existence of e-money in Indonesia can be something new that brings a big change for this country. It will bring a huge progress of the nation. The problem is, not all people in Indonesia live in the big city, there are also in suburbs, which makes it a little bit harder to reach. But we have to remember that, everything takes time, everything needs a process. To make something big and huge, ain’t going to be easy.

What are the advantages or benefits that we got as a consumer?

• First, it’s safer. Reduced from loss and theft. No need to worry whenever you’re going to bring millions or even billions, you don’t have to bring a big bag and hold it so tight.
• Second, it’s more accurate. Remember when you do groceries shopping and you have to pay for Rp.155.450 and end up paying Rp. 155.500 because either you or the market have Rp. 50? This e-money can prevent you from that kind of thing, for sure.
• Third, time savings. You don’t have to queue in bank to transfer your money if you use e-money.
• Fourth, user-friendly. Usually every service is designed to reach the widest possible audience, so it has the intuitively understandable user interface. In addition, there is always the opportunity to submit a question to a support team, which often works 24/7. Anyway you can always get an answer using the forums on the subject. 
• Fifth, Convenience. All the transfers can be performed at any time, anywhere.
• Sixth, record of transactions. Each and every transaction made with electronic money is recorded in the bank's and the user's online records.

Which one would you prefer: card, cash or mobile phone?

I prefer mobile phone. Simply because I bring my mobile phone anywhere so it will make me easier to use it.

Referensi :

1. https://unichange.me/articles/advantages_of_electronic_payment_systems
2. http://wikiperdia.org

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Letter of Intent

January 28, 2017

Chris Johanes

PT E-Corp Indonesia

Indonesia

Subject: Letter of Intent for the Acquisition of PT Tech Company by Stefano

Dear Mr. Jansen

This letter confirms your and our mutual intent with respect to the potential transactions described here in between Stefano and your company, including its shareholders. This document, in and of itself, does not represent an enforceable legal contract

Whereas, buyer is interested in acquiring all of the outstanding stock of PT Tech Company and will be performing certain due diligence with respect to Seller’s corporation; and

Whereas, Buyer and Seller intend to negotiate the substantive terms of such acquisition, including terms of Buyer’s employment agreements with certain key employees and executives of Seller;

Now, therefore, the parties enter into this Letter of Intent as follows:

• The principal terms of the proposed transaction would be substantially as follows:

1. Real and Effective Acquisition. Subject to the successful due diligence, and the successful negotiation of a purchase price for the Shares, Buyer would acquire the Shares.
2. The aggregate purchase price for the Shares is to be negotiated between the parties in good faith, provided that the Purchase Agreement (as defined below) and employment agreements can be successfully negotiated concurrently with each other.
3. Due Diligence Review. Promptly following the execution of this Letter of Intent, you will allow us to complete our examination of your financial, accounting and business records and the contracts and other legal documents and generally to complete due diligence.  Any information obtained by us as a result thereof will be maintained by us in confidence subject to the terms of the Non-Disclosure Agreement executed by the parties and dated as of 17 January (the “NDA”).  The parties will cooperate to complete due diligence as expeditiously as possible.
4. Definitive Purchase Agreement. All of the terms and conditions of the proposed transactions would be stated in the Purchase Agreement and employment agreements, to be negotiated in good faith concurrently with each other, and if agreed, executed by you and us.  Neither party intends to be bound by any oral or written statements or correspondence concerning the Purchase Agreement or employment agreements arising during the course of negotiations, notwithstanding that the same may be expressed in terms signifying a partial, preliminary or interim agreement between the parties.
5. Conduct in Ordinary Course. In addition to the conditions discussed herein and any others to be contained in a definitive written stock purchase agreement (the “Purchase Agreement”), consummation of the acquisition would be subject to having conducted your business in the ordinary course during the period between the date hereof and the date of closing and there having been no material adverse change in your business, financial condition or prospects.  Seller shall not be liable in the event of any Buyer determination that Seller did not conduct its business in the ordinary course, or for any adverse changes Buyer may deem to have occurred.
6. Contract of Employment. Simultaneously with the execution of the Purchase Agreement, we would offer employment to the following individuals currently employed by Seller and you hereby agree to accept such employment, subject to the negotiation of mutually acceptable employment agreements, it being understood that the term of such employment agreements will be for a period of not less than three (3) years.

• Expenses & Limitation of Liability. You and we will pay our respective expenses incident to this Letter of Intent, the Purchase Agreement, the employment agreements and the transactions contemplated hereby and thereby, and NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY CAUSE WHATSOEVER ARISING UNDER THIS LETTER OF INTENT.

• Public Announcements. Neither you nor we will make any announcement of the proposed transaction contemplated by this Letter of Intent prior to the execution of the Purchase Agreement and employment agreements without the prior written approval of the other, which approval will not be unreasonably withheld or delayed.  The foregoing shall not restrict in any respect your or our ability to communicate information concerning this Letter of Intent and the transactions contemplated hereby to your and our, and your and our respective affiliates’, officers, directors, employees and professional advisers, and, to the extent relevant, to third parties whose consent is required in connection with the transaction contemplated by this Letter of Intent.

• Broker’s Fees. All parties have represented to each other that no brokers or finders have been employed who would be entitled to a fee by reason of the transaction contemplated by this Letter of Intent.

• Exclusive Negotiating Rights. In order to induce us to commit the resources, forego other potential opportunities, and incur the legal, accounting and incidental expenses necessary properly to evaluate the possibility of acquiring the outstanding capital stock and business described above, and to negotiate the terms of, and consummate, the transactions contemplated hereby, including the employment agreements, you agree that for a period of ninety (90) days after the date hereof, you, your affiliates and your and their respective officers, directors, employees and agents shall not initiate, solicit, encourage, directly or indirectly, or accept any offer or proposal, regarding your employment and/or the possible acquisition of substantially all outstanding capital stock of PT Tech Company by any person other than us, including, without limitation, by way of a purchase of majority shares, purchase of substantially all assets or merger, of all or any substantial part of your equity securities or assets, and shall not (other than in the ordinary course of business as heretofore conducted) provide any confidential information regarding your assets or business to any person other than us and your and our representatives, without our prior written consent.

• This letter shall be governed by the substantive laws of the State of Indonesia without regard to conflict of law principles.  This letter, together with the aforementioned NDA, constitutes the entire understanding and agreement between the parties hereto and their affiliates with respect to its subject matter and supersedes all prior or contemporaneous agreements, representations, warranties and understandings of such parties (whether oral or written).  No promise, inducement, representation or agreement, other than as expressly set forth herein, has been made to or by the parties hereto.  This letter may be amended only by written agreement, signed by the parties to be bound by the amendment. Evidence shall be inadmissible to show agreement by and between such parties to any term or condition contrary to or in addition to the terms and conditions contained in this letter.  This letter shall be construed according to its fair meaning and not strictly for or against either party.

• No Binding Obligation. THIS LETTER OF INTENT DOES NOT CONSTITUTE OR CREATE, AND SHALL NOT BE DEEMED TO CONSTITUTE OR CREATE, ANY LEGALLY BINDING OR ENFORCEABLE OBLIGATION ON THE PART OF EITHER PARTY TO THIS LETTER OF INTENT.  NO SUCH OBLIGATION SHALL BE CREATED, EXCEPT BY THE EXECUTION AND DELIVERY OF THE PURCHASE AGREEMENT AND EMPLOYMENT AGREEMENTS CONTAINING SUCH TERMS AND CONDITIONS OF THE PROPOSED TRANSACTIONS AS SHALL BE AGREED UPON BY THE PARTIES, AND THEN ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF SUCH PURCHASE AGREEMENT AND EMPLOYMENT AGREEMENTS.  The NDA is hereby ratified and confirmed as a separate agreement between the parties thereto.

If the foregoing terms and conditions are acceptable to you, please so indicate by signing this letter where indicated below and returning it to the attention of the undersigned.

Sincerely,

Chris Johanes

President and CEO

PT E-Corp Indonesia

ACCEPTED AND AGREED:

Jansen

President and CEO

PT Tech Company

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