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Impact of the COVID-19 Pandemic on CICO Agents in Indonesia

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

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.

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Written by

jayan-nair

Alfa Pelupessy
jayan-nair

Astri Sri Sulastri
jayan-nair

Gloria Sinaga
jayan-nair

Raunak Kapoor

 Associate Partner