Impact of the COVID-19 pandemic on CICO agents in Indonesia

• by Alfa Pelupessy, Astri Sri Sulastri, Gloria Sinaga and Raunak Kapoor
• Jun 22, 2020
• 1 min
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Large-scale movement restrictions, falling consumer demand, and rising unemployment have taken a toll on CICO agents in Indonesia. Our report analyzes the impact of the pandemic on these agents, highlights their coping strategies, and provides recommendations to help them recover.

Cash-in cash-out (CICO) agents, with their last-mile reach, are the backbone of inclusive digital payment ecosystems. Estimates suggest there are over 3 million such agents across Indonesia, though they often become dormant due to low transaction volumes.

The current pandemic has worsened this situation and reduced the transaction volumes of these agents by 50%-90%. Our report explores the impact of COVID-19 on CICO agents, highlights their coping strategies, and provides policy recommendations to support their recovery.