GoPay Launches Cash Withdrawal Feature Through BCA Outlets

GoPay develops a cash withdrawal feature through BCA ATM outlets all over Indonesia. GoPay is the second e-money player, after LinkAja, to develop this feature as a subsidiary of Himbara.

In the official statement, cash withdrawals only require five easy processes. Users only need to select the Cash Withdrawal feature, enter the nominal GoPay balance to withdraw, and authenticate with a PIN. Next, the user will receive a six-digit transaction code to be used directly at BCA ATMs.

This transaction code is confidential and is only valid for one hour from the time the code is given. In order to withdraw cash at an ATM BCA, the user can select the “Cardless transaction” option and enters the virtual account code (70008 + cellphone number), then the transaction code. The ATM will issue cash according to the amount requested.

This feature is beneficial for GoPay users, especially the driver-partners in case of sudden necessity. BCA alone has released the “Cardless transaction” feature since 2017 via the mobile banking application. BCA has 17,067 ATMs as of March 2020.

“[..] This feature is also very helpful for GoPay users who are accustomed to everyday cashless but need cash on several occasions,” GoPay’s VP Business Development Imam Akbar Hadikusumo said, Tuesday (11/8).

He said the two companies have collaborated through the BCA Virtual Account feature and OneKlik. This cash withdrawal feature will be available progressively for all Gojek users. However, in order to use this feature, users need to upgrade their account to GoPay Plus.

BCA’s EVP of Transaction Banking Business Development. I Ketut Alam Wangsawijaya added, “BCA as a part of the national financial system is committed to open opportunities for collaboration with e-wallet developer partners in providing a seamless financial experience for BCA customers and GoPay users.”

Imam continued, by upgrading his account to GoPay Plus, users can take advantage of the cash withdrawal feature, also use the transfer feature to fellow GoPay users, transfers to other banks, bigger GoPay limits, and an extra guarantee of GoPay Balance Protection.

LinkAja’s cash withdrawal

Neither Ovo nor Dana, GoPay’s closest competitors are yet to develop a cash withdrawal feature. It’s different with LinkAja because it is a subsidiary of Himbara, LinkAja users can withdraw their cash balance using the ATM Link network.

The withdrawal method is not much different from GoPay. LinkAja users only need to make a request via the LinkAja application, by going to the “Withdraw Balance” menu then selecting “Withdraw Cash at an ATM”. Then select the Balance Withdrawal Nominal in cash via an ATM and select Create Withdrawal Code for confirmation.

The code will be entered into the ATM machine to continue the transaction. When withdrawing cash at a Bank Mandiri ATM, for example, the user simply presses the soft key (green button on the bottom right next to the ATM screen. Then select “LinkAja Cash Withdrawal” and “Cash Withdrawal.” After users input the registered mobile number, enter the withdrawal code at the end-process.


Original article is in Indonesian, translated by Kristin Siagian

Supper App News: Still on Gojek vs Grab

Super app has become a hype terminology. Both leading players, Gojek and Grab, are still on the campaign to be the most complete super app. It is a quite tight (direct) competition in all lines. Not only in Indonesia but also in regional area. With a same-level valuation as “decacorn”, the target market set is full of ambition.

This is the latest business scope of both services:

Cakupan Layanan Grab dan Gojek di Asia Tenggara

Grab tends to be superior in terms of coverage area. They started to expand since 2014 – including to Indonesia. Meanwhile, Gojek only started its regional expansion in mid-2018. In terms of the type of service, Indonesian market has the most comprehensive one. The complete service has delivered the term super app as a title.

According to App Annie’s data, the Grab application has been downloaded by 187 million users as of June 2020, while Gojek with 170 million users. The largest user base lies in Indonesia. In terms of Grab, it is around 66%, while Gojek is 90%.

Previously, Gojek has launched a separate application for expansion outside Indonesia. From this month on, they started to unify apps and brands into Gojek – from Vietnam service Go-Viet into Gojek. GET in Thailand will also get changed soon.

The latest report released by China Renaissance investment bank summarizes a number of Gojek and Grab business achievements and strategies. One of them is related to the monthly active user’s data. Gojek’s MAU data currently has reached 36 million users in four countries, while Grab is yet to disclose any data. The research calculates the total addressable market for ride-hailing services this year is to reach $25 billion.

Perbandingan Bisnis Gojek dan Grab

Strategy towards profitability

The Covid-19 pandemic has clearly had a significant impact on the rid hailing business. In an exclusive interview with DailySocial, the international team confirmed the news. Grab is no different. Regarding business operations efficiency, the two companies had a layoff last June. Grab lay off 5% of its employees, equivalent to 360 people. Meanwhile, Gojek laid off 9% of its total employees, equivalent to 430 people.

Therefore, the super app platform survives, for other business areas still got potential growth despite pandemic. Referring to existing business data, China Renaissance is optimistic that food delivery and e-wallet services are likely to support the super app’s sustainability strategy. A large amount of monetization is possible for these two features.

The first is about food delivery. According to market measurements, this business has the potential to bring in up to $20 billion annually. Assuming each super app is capable to gain 5% of the market, at least they can book $1 billion in revenue each year. Grab once disclosed revenue for the food delivery service. In 2017 they already raised $2 billion and grew to $5 billion in 2019.

TAM Food Delivery in SEA

Earlier this year, Gojek announced the strategy to make GoFood profitable. Gojek Group’s Chief Food Officer Catherine Hindra Sutjahyo revealed that all investors’ encouragement resulted in GoFood’s business model in a direction towards profitability. As time pass by, the GoFood’s achievement benchmarks have grown, from basic transaction numbers to gross transaction values, and now revenue.

As the food business has the potential to generate big cash, various initiatives were launched. One of those is by developing a cloud kitchen to help partners efficiently produce and serve products. Both Grab and Gojek continue to expand cloud kitchens as “shared kitchens” that is accessible by SME partners. There are shops that only serve purchases via GrabFood or GoFood orders.

Digital wallet to be the next source of profit

The super app journey goes through several phases: user acquisition, partner acquisition, and product expansion. The first phase has successfully passed. Millions of driver-partners spread across various cities turned into assets to convince users regarding the reliability and availability of services. The second phase indicates the same results. The pandemic has contributed significantly to the adoption of food and grocery delivery services.

Next, the third phase is being optimized by each player. In Indonesia, GoPay is the payment platform most used by the public, competing with Ovo, which is now being applied by Grab (as well as Tokopedia and several other services). Obviously, its existence has a big impact on the business of each company. The payment system acts as a link between actors in the application ecosystem: consumers, driver-partners, and merchants.

Superapp development phase

This situation creates opportunities for partners and merchants to gain more feasible financial access. Fintech platforms such as digital wallets are considered to be able to bridge the existing gap, including connecting them with various financial products (transfers, loans, investments).

Some intentions are going toward this, including the seriousness of Grab through the GrabFinancial unit. GoPay itself is said to have reached a unicorn valuation.

Next phase: integration

Super app principles such as “must be the most complete” turn Gojek and Grab compete harder to provide various relevant services. Adding a service doesn’t mean you have to develop everything independently. In terms of telemedicine services, Gojek collaborates with Halodoc, while Grab is with Ping An Good Doctor. Also for other services, such as insurtech, lending, and OTA which are integrated with third-party platforms.

It takes some business units to allow the company to connect with related players. The strategy is similar, starting from developing venture units, acceleration programs, to acquisitions.

Such intense competition has so far been considered good for the market formation and often benefits consumers. It was previously rumored that the two super apps would merge, however, it seems just ended up as a rumor.

Daftar Integrasi Gojek dan Grab


Original article is in Indonesian, translated by Kristin Siagian

Application Information Will Show Up Here
Application Information Will Show Up Here

Debt Manager App CrediBook Receives Funding and Collaborates with Payfazz

Launched in February 2020, the digital debt manager application CrediBook has now been used by more than 200 thousand users. CrediBook’s Co-Founder & CEO told DailySocial, Gabriel Frans said the service is now available throughout Indonesia, even more than 50% of users are in tier 2 and 3 cities.

It is said to be different from other similar platforms, CrediBook does not only tracking debt but also connects users in two directions. In this case, CrediBook puts its platform like a messaging application, with the concept of debit-credit communication. CrediBook is also able to make bill payments directly on the platform, thereby reducing manual recording and confirmation processes.

“We created an ecosystem where buyers, sellers (including SMEs), even distributors and wholesalers can be connected on a single listing platform. The current monetization strategy is through payments on the CrediBook. In addition, we also provide access to users to apply for loans. capital to enlarge their business,” Gabriel said.

Even though it has experienced positive growth even during the pandemic, the CrediBook still has some barriers. These range from technological literacy to the seamless transition from traditional note-taking to app use.

“My experience and my COO Chris at Kudo and Payfazz allow us to really understand our users’ behavior. CrediBook answers this challenge by continuing to listen to our users and make improvements to our products continuously,” said Gabriel.

Strategic partnership with Payfazz

After securing seed funding from Insignia Ventures Partners and Payfazz, CrediBook has several targets to be achieved. Among those are developing products by adding new relevant features and helping to solve problems, such as the infrastructure for Payfazz’ financial products from Payfazz such as transfers, loans, pulses, and accounts that can provide value for CrediBook merchants.

“There are two goals Payfazz wants to achieve through this strategic partnership. It is to distribute financial products such as balance, transfers, loans, accounts to CrediBook merchants outside of the shop. In addition, we want to integrate the CrediBook debt recording feature as a use case. additional for 250 thousand agents/stalls on the Payfazz platform,” Payfazz’ CEO Hendra Kwik said.

During the pandemic, there were no significant changes in the CrediBook business. The company is currently experiencing very fast business growth. By targeting 60 million businesses to use the CrediBook platform for their digital financial records.


Original article is in Indonesian, translated by Kristin Siagian

The Performance of Job Listing Players Amid Pandemic

Pandemic “hit” all kinds of businesses. Millions of people in Indonesia have lost their jobs. This risk applied not only to blue-collar workers but also to the white-collars.

It is obvious from several global and local scale companies with massive efficiency in order to have a longer runway. All of the workers are quite affected and ended up exploring various job portals to survive.

Previously, DailySocial mentioned how blue-collar job portal players play a role in keeping the law of supply and demand in place. The conditions are not much different for the white-collar workers.

While many are looking for work, some companies freeze recruitment. The current condition is reflected on JobStreet Indonesia’s post, one of the biggest job vacancies site players in Indonesia, on their social media accounts uploaded on August 3rd. They wrote:

“Before the pandemic there could be 30k more vacancies. During the pandemic, there were only about 15k vacancies. Before the pandemic, one position (job vacancies) was usually 400-600 applicants. During a pandemic, one position can have 2k-3k applicants.”

The number is quite unique and Urbanhire is willing to provide its internal data. Urbanhire’s Founder and CEO, Benson Kawengian explained to DailySocial that generally in the third quarter is the peak time to start recruiting.

However, the company’s internal data as of the second quarter showed the ratio (see graphic) of shifting in the number of job seekers above the number of jobs available.

Data internal Urbanhire / Urbanhire
Urbanhire internal data / Urbanhire

“Five months since the pandemic started, new job vacancies entering the Urbanhire platform are still quite in the past few months. It is very different from earlier this year, where the number of vacancies per month could reach 500,” Benson said.

The opposite condition occurs in the number of job applicants. The number can reach 60 thousand per month. He concluded that the pandemic caused an imbalance in the supply of workers and the demand for jobs circulating in society.

New Recruitment

The employment ratio of workers with the vacancies is becoming more intense. Looking at the SEAcosystem.com spreadsheet document and local versions of similar documents, every day the list of laid-off startup workers continues to grow, although not all of them are displayed voluntarily here. From our observation, the majority of the divisions affected were marketing and engineering/product/IT.

Based on Urbanhire data, Benson showed one of the industries still recruiting and involved in the “green” industry during the pandemic was an e-commerce player.

“The government’s social distancing policy forces companies to apply WHF rules for their employees. As a result, there has been an increase in the use of digital-based technology and services. This results in an increasing need for companies for IT talent, as well as for remote workers. ”

The same condition was explained by Ekrut’s Co-Founder and CEO Steven Suliawan. IT-related talents and digital marketing are the most wanted job vacancies these days. From the type of industry, companies engaged in financial services, telecommunications, FMCG, and healthcare are active in recruiting and are not significantly affected by the pandemic.

“In terms of job roles in general, there has been a significant decrease, especially in some business-related matters. Surprisingly, although there has been a decline, the demand for tech-roles is not significantly dropped, such as the position of software engineering, product development, data analysis, and digital marketing position.”

Sumber: Unsplash
Source: Unsplash

Plays an important role

The role of Urbanhire and Ekrut is quite important in connecting information about job vacancies to prospective candidates. Benson said the pandemic has drastically affected the way companies recruit employees by running the recruitment process virtually remotely.

One of the technologies that can support this process is the Applicant Tracking System (ATS), which is increasingly being used by recruiters. Urbanhire issued a free subscription package and the unlimited resume search feature.

This free subscription package can be used by recruiters to post job vacancies and distribute them to various job vacancy portals and universities in Indonesia. Meanwhile, the next feature allows you to access millions of high-quality candidate profiles at no additional cost.

“We hope that companies in Indonesia will be better prepared to face changes due to the pandemic going forward. This readiness is in the form of a change in the way candidates are recruited, where many companies are already recruiting online ”

The previous graph, Benson continued, also indicates another insight that some companies are focusing on rightsizing, looking for the most appropriate number of headcount points (employees) in the midst of a pandemic.

Urbanhire alone does not position itself as a job portal only, but as HR technology and talent solutions, thanks to its strategic partnership with Mercer.

“We have some features to help companies during assessment and data analysis for rightsizing; and remote hiring to help companies which starting to ramp up activity hiring. ”

“We are sure that recruitment will rebound and return to pre-pandemic times after the vaccine came out. But even before the vaccine, digital talents will remain the hot candidates for at least the next five years regardless of the economic situation, “added Steven.

Ekrut has always been focused on fulfilling talents in the information technology field with job-roles ranging from software engineering, product management, data science/analysis, marketing and communications, and operations. The features they have developed include a talent marketplace and a marketplace curation algorithm (MCA).

Sumber: Unsplash
Source: Unsplash

Increasing opportunities

The initiation of the SEAcosystem.com spreadsheet and local versions of similar documents is another form of a simplified version of the job portal that connects them with companies that still hiring, not only a database of who and how many workers are affected.

Increasing job vacancies information will reduce the gap in the ratio of workers to companies looking for the best candidates. This method can be implemented in collaboration between the government and the private sector. In Indonesia alone, there were more than 20 job vacancy site players attending, both local and global, such as Indeed, JobsDB, and JobStreet.

In Singapore, the local Fintech Association has released a job and grant site that lists more than 500 vacancies in six categories, namely information technology, business development, data analytics, management and business, accounting and finance, and marketing and public relations.

The portal also highlights available grants and relevant training opportunities in the fintech sector.

Next, a collaboration between Indeed’s global job site and local governments in one of the U.S. states, Connecticut. Indeed created a customized job portal so that people or employers can open the portal to find or post job advertisements.

The types of jobs that are in high demand there, according to Indeed, are retail sales associates, pharmacy technicians, logistics couriers, customer service representatives, and jobs in the restaurant industry.

Indeed is also working with its competitor, Glassdoor, to provide Americans with the opportunity to return to work as there are more people there.

Both cross-promote their brands and the job listings available on both sites. Even recruiters who use the Indeed platform can reach their potential candidates through Glassdoor, and vice versa. With this kind of partnership, they claim to be able to reach around 80% of online job seekers.


Original article is in Indonesian, translated by Kristin Siagian

Pandemic and The Increasing Awareness of Financial Planning

Life pressures and current economic conditions have influenced people to start planning their financial decisions. Starting from using emergency funds to cutting expenses.

As a digital financial planning platform, Halofina decided it is the right time to educate the public, aiming to increase financial literacy in the country. DailySocial invited Halofina’s Founder & CEO, Adjie Wicaksana in the #SelasaStartup session the first week of August 2020.

Efforts to increase awareness

OJK recorded the percentage of Indonesian people’s financial literacy in 2019 experienced a significant increase of 38%. This number is certainly an achievement compared to the previous 3 years at only 29%. Even though it has increased, Adjie said this number is quite far behind other neighboring countries with a fairly good amount of financial literacy among the community, around 70% and above.

What is quite a challenge, is not only the large size of Indonesia’s population compared to other neighboring countries, but also a trust issues among the public, related to digital financial products.

“Therefore, the productive age is shown as an ideal target market for a digital financial planning platform. Halofina offers products and services, in this case financial planning,” Adjie said.

Even though it’s mainly focused on millennials, adjusting the phase that is ultimately faced by this productive age can increase the number of users who are most familiar with technology or better known as tech-savvy.

“We see that productive age is the largest segment that has been frequently exposed and accustomed to digital products and technological innovations. This has become the focus of Halofina,” Adjie said.

Reducing barrier entry

The main obstacle for most fintech services to offer their products lies in the barrier entry. From lack of trust to product safety and risk factors, which ultimately makes it difficult for fintech platforms in general to acquire users.

“Therefore, it is important for the platform to provide important and legitimate evidence from regulators. As our platform becomes the first listed in the Financial Services Authority’s (OJK Sandbox) Digital Financial Innovation, Digital Financial Planner category,” said Adjie.

Apart from regulatory and legality issues, the platform must also have relevant and on-demand products by the community. In this case, creating a ‘relatable’ product becomes important. In Halofina, financial planning products are what we’ve tried to offer.

“In early July we launched the consulting feature. The main feature is similar to the ones offered by the healthtech platforms, which is consulting with doctors online. However, in Halofina we provide certified financial planners for users to conduct consultations related to investment and financial planning,” said Adjie .

Pandemic and financial planning

In the time of a pandemic, there was a lot of negative news that circulating the daily routine, it was enough to influence most people’s views and decisions. Previously, most millennials don’t really care about their financial management and financial planning, today, Adjie said there has been a significant increase in the community to pay attention to their financial management.

Starting from using the right emergency fund to managing their financial flow. Adjie also mentioned that this opportunity was what Halofina tried to utilize as a relevant platform. Not only on social media accounts and platforms, Halofina tries to provide the right and required education, aiming to increase awareness of the importance of financial management and planning in everyday life.


Original article is in Indonesian, translated by Kristin Siagian

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BRI Strives for Digital Bank

BRI appears to pursue similar innovation as some Indonesian banks to form a digital bank. Previously, as quoted by Katadata, BRI’s President Director Sunarso had said that the company is open for the possibility to convert its subsidiary into a digital bank.

There are two BRI subsidiaries engaged in the banking business, BRI Agroniaga Tbk (Agro) and BRI Syariah. Sunarso said that it is impossible for BRI Syariah to be converted into a digital bank. “However, BRI Agroniaga is very possible,” he said.

In contact with DailySocial, BRI’s Director of Digital, Information Technology and Operations Indra Utoyo also confirmed this. He said that the company is finalizing its current concepts and strategies. “Yes, it’s quite the truth [being a digital bank],” he said through a short message.

BRI Agro has quite a potential to be converted, considering that the company has launched the digital lending platform Pinang (Pinjam Tenang). However, he said BRI Agro was not directly merged into a digital bank because as the parent company, BRI wanted to have trial on the market.

“[The first approach] through Pinang as a use case for digital attackers. Currently, Pinang is the only fully digital loan solution from the banking sector,” he said.

As a general note, Pinang is a digital lending platform released in early 2019 by BRI Agro. Apart from working capital, Pinang can be used for a variety of services from tuition fees to medical expenses, also daily needs. Based on the 2019 Annual Report, BRI Agro recorded Pinang’s credit disbursements had reached IDR 30.6 billion with a total of 7,331 debtors.

Pinang is also BRI’s new business model which refers to the new digital banking proposition strategy. This service is the first digital loan platform in Indonesia that offers e-KYC with digital verification, digital scoring, and digital signature systems.

Furthermore, Indra said that the company’s next digital strategy is to continue to engage with BRI Group’s identity targeting the micro and Small and Medium Enterprises (SME) segments.

“Regarding Bank Agro’s new position, there will be an answer at the right time. We cannot answer now [whether there will be new digital products aside from Pinang]. However, our digital strategy stays with go smaller, go shorter, and go faster. This means we’ll be entering a smaller segment, the ultra micro,” said Indra.

Last time, Indra said digital banks will be quite optimal when it’s combined the physical networks, not only digital services. Therefore, he considers there is no need for a dichotomy between digital and non-digital banks, considering that BRI has so far provided more value than this concept through its products.

The realization and its challenges

Until the end of this year, there are at least two digital bank initiatives awaiting realization. Bank Digital BCA and Bank Jago (previously Bank Artos) are to launch in the second semester of 2020.

Bank Digital BCA will become the new branding of its previous name, Bank Royal. The target market involves retail and SME segments, different from its main portfolio which mostly corporates.

Meanwhile, Bank Jago will target the middle and mass-market segments as the main target. The company will also collaborate with digital platforms in various business verticals, such as e-commerce, ride-hailing, and p2p lending.

Meanwhile, PT Bank Yudha Bhakti (BYB) officially changed its new name to PT Bank Neo Commerce Tbk through the Extraordinary General Meeting of Shareholders (EGMS) on July 30, 2020.

Bank Yudha Bakti’s President Director, Tjandra Gunawan said that changing the company’s new name is part of the business and digital transformation strategies for the 2020-2022 period.

Institute for Development of Economics (Indef) observer Bhima Yudistira, assesses that the realization of a digital bank will have a big impact on Indonesian people, especially those who are yet to have access to financial products or underbank.

However, the digital banks will require market education in various circles, for example, SMEs and rural areas. “The importance of developing a digital bank here must be accompanied by additional internet network access to remote and outermost areas,” Bhima said.


Original article is in Indonesian, translated by Kristin Siagian

Disney+ Hotstar is to Launch in Indonesia per September 5th, 2020

Disney eventually announced its streaming service in Indonesia. With the same brand as its presence in India, “Disney+ Hotstar”, Indonesian users will be able to enjoy the video streaming application per September 5th, 2020.

There is no further information, including subscription fees or specific collaboration with local partners. However, Telkomsel had previously launched a customer survey related to their interests and responses if Disney + rolled in Indonesia and accessible through Telkomsel’s special package.

In contact with Disney Indonesia representatives, the company is yet to reveal any detailed information for the new platform. They only announced a statement made earlier by Disney CEO, Bob Chapek during a 2020’s third-quarter business exposure, mentioning the plan to launch Disney+ Hotstar service in Indonesia (including in 9 countries outside the United States that were targeted market share).

Previously, the company is said to reach 60.5 million Disney+ customers as of August 3, 2020, after reaching 57.5 million customers at the end of the third quarter, in June 2020. The number increased by 6 million customers from the 54.5 million the company reported on 4 May in the second quarter.

Streaming service competition in Indonesia

In a previous article, DailySocial observed the popular streaming platform in Indonesia. Currently there are dozens of applications that provide similar services. The thing is, it’s a matter of content diversification.

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Regarding consumer interest in Indonesia, based on our survey, respondent’s preference on choosing streaming services is based on several factors: easy access (87%), lots of contents (81%), promos (54%), and subscription fees (48%).

The presence of Disney+ Hotstar will be quite prominent, seen from the trends and interests of the Indonesian people who are quite enthusiastic about trying the new US-based video streaming platform.


Original article is in Indonesian, translated by Kristin Siagian

Ayopop Secures Pre Series B Funding Worth of 73 Billion Rupiah, Rebranding to Ayoconnect

Ayopop fintech payment aggregator rebrands to Ayoconnect and shifting their business focus after securing Pre-Series B funding worth of $5 million (more than 73 billion Rupiah) led by BRI Ventures.

There are some other investors involved in this round, including Kakaku.com, Brama One Ventures, and the previous investors, Finch Capital, Amand Ventures, Strive, and AC Ventures. Overall, the company has raised over $10 million.

Ayoconnect’s Co-Founder and CEO Jakob Rost said this fresh money will be channeled to invest in technology and develop partnership networks to connect billing providers and payment partners, with the trusted basic infrastructure, safe, and fast digital bill payments.

The company is to immediately double the employees, from the current 100 people in Indonesia headquarter and technology centers in India.

“We expect a solid partnership with our previous investors and new investors, which is in line with Ayoconnect’s vision to shape Indonesia’s billing ecosystem into a centralized network,” he explained in an official statement, Wednesday (5/8).

On the occasion, he also announced the appointment of Alex Jatra as the new CFO. He has a strong financial track record with experience working in the private equity industry, venture capital, and served as C-Level at startup, HARA and Dattabot.

One API solution

Rost said, Ayoconnect’s new business focus is the billing network provider (open bill network) with the One API solution that allows billing companies to expand their payment points with minimum effort, while payment partners have direct access to 2500 billing products.

The solution is to answer bill payment industry problems in Indonesia that is mostly offline, separate, and manual. Integration through the API will streamline the process, therefore, consumers will be easier to transact.

In this billing network, Ayoconnect connects bill providers (electricity/water companies, telecommunications, educational institutions, etc.) with online and offline payment partners (including Indomaret, Pos Indonesia, and financial institutions) for customers can pay their bills easier through Ayoconnect network.

The company has introduced this business model since Ayopop starts operating in August last year. It still uses the name Ayopop Open API. Some previous B2B partners already connected, including Dana, LinkAja, Pos Indonesia, BRI Bank, Permata Bank, Bukalapak, Lazada, and Pegadaian.

“Therefore, we want to clarify that we are no longer just payment aggregators. Payment aggregators are part of the payment products that we offer. We are agnostic to our partners. Moreover, we continue to run the Ayoconnect brand. Ayopop will be part of the Ayoconnect network,” Rost explained separately to DailySocial.

BRI Ventures’ CEO, Nicko Widjaja also added, “Bill payment technology plays an important role in the vertical industry that is currently underserved, and there is a great opportunity in digitizing these sectors.”

Ayoconnect’s Co-Founder and COO, Chiragh Kirpalani mentioned that online bill payments play a big role in the pandemic because consumers prefer to shift into digital. One ongoing solution is the Billing Reminder which has been proven to help partner companies, such as Bank Mandiri Card Division and other financial institutions, do auto-debit for bill payments.

Until July 2020, the company has processed more than 40 million payments through 600 billing networks and 40 payment partners. The number of transactions recorded an increase of 400% in a period of six months during the first six month period this year.

In March, the Open API business contributes around 80% of the gross transaction value (GTV). In fact, the company only started in November of last year.

“We will remain dedicated to bill payments yet build more B2B technology for value-added solutions for us to provide to bill providers and channels. We are currently pursuing very broad (blue ocean) categories, there are hundreds of thousands of micro-billers, therefore, we need to build partnerships and improve the technology required to drive digitalization in that area,” Rost concluded.


Original article is in Indonesian, translated by Kristin Siagian

Wahyoo Announced 73 Billion Rupiah Worth of Series A Funding Led by Intudo Ventures

Today (05/8), Wahyoo announced series A funding worth of $5 million or equivalent to 73.2 billion Rupiah. This round was led by Intudo Ventures with the participation of Kinesys Group, Amatil X (Coca-Cola Amatil), Arkblu Capital, Indogen Capital, Selera Kapital, Gratyo Universal Indonesia, and Isenta Hioe.

It is said in an official statement, investment funds will be focused on accelerating market expansion and hiring new employees. Was founded in 2017, Wahyoo has reached 13,500 warung partners in the Jadetabek area. The platform highlights on digitizing services and improving business operations.

Specifically, Wahyoo helps conventional food stall owners (warung) through digital platforms to attract customers, improve marketing, implement loyalty programs, order and receive food ingredients, manage financial flows, and provide training (Wahyoo Academy). Warung partners can also earn additional income through advertising and brand partnerships with Wahyoo.

“With the fresh money, we plan to expand operations to other cities outside the Jabodetabek area; and add new employees, especially to our technology and product units. We will continue to add new features and services to meet the needs of warung owners, especially improve supply chain systems and financial products,” Wahyoo’s Founder & CEO Peter Shearer said.

“SME is one of the main engines of Indonesia’s economic growth and being transformed through new innovative businesses such as Wahyoo. With digitalization efforts and targeting segment warung owners, Wahyoo believes to create positive economic and social impacts for the Indonesian working class,” Intudo Ventures Founding Partner, Patrick Yip said.

Meanwhile, Coca-Cola Amatil Indonesia’s President Director Kadir Gunduz added, “Our partnership with Wahyoo will help SMEs overcome digital barriers and spur growth in Indonesia’s e-commerce industry. We are proud to partner with Wahyoo to help digitize the warung market.”

Presiden Direktur Coca-Cola Amatil Indonesia Kadir Gunduz
Wahyoo’s Founder & CEO, Peter Shearer with Coca Cola Amatil Indonesia’s President, Kadir Gunduz / Wahyoo

Previously, in mid-2019, Wahyoo had received seed funding with an undisclosed amount. Some of the investors involved included Agaeti Ventures, Chapter 1 Ventures, Kinesys Group, SMDV, East Ventures, and Rentracks.

The aggressive service adoption results in Wahyoo’s business growing fast. In early 2020, they are reportedly acquired Alamat.com, an online platform that provides solutions to help consumers find service stores and lifestyles. Two founders of Alamat.com are helping Peter in the company’s management, Daniel Cahyadi as COO and Michael Diharja as CTO.

Not long ago, Wahyoo also launched Langganan.co.id, an online platform to accommodate people in residential areas to shop groceries. Operating since June 2020, the platform has reached users in residential or apartment areas, such as Green Lake City, Alam Sutera, Cipondih, Taman Royal, Banjar Wijaya, Modernland, Gading Serpong, Karawaci, Metro Permata, Ciledug, Puri, and PIK.

Warung transformation is getting a lot of support

Recently, startups with the intention to democratize business stalls (with a variety of characteristics) continue to get huge support. As Wahyoo’s focused on warteg or food stalls, others also focused on grocery stalls (selling daily necessities). It also take similar transformation form, making it easier for traders to get stock, capital, to enable them to present financial products for their users.

Ula, for example. The startup debuted this year with $10 million funds from some investors. Its mission is to simplify the FMCG supply chain for small shops. There is also Payfazz focusing on providing financial services to the stall owners, allowing stalls to provide funds transfer transactions, withdrawal, loans, and even purchase digital products. There are also some other players.

Warung is a culture that is inseparable to Indonesian people, retail transactions spin fast every day and stalls become the economic component closest to the community with the widest distribution. This condition put stalls an ideal channel to perform various businesses – reaching all groups; in addition to providing added value to drive their businesses.


Original article is in Indonesian, translated by Kristin Siagian

The Rent-to-Own Concept by TapHomes Allows User to Rent While Making Down Payment

The low rate of house ownership becomes one of TapHomes’ reasons to run the proptech startup. Victor Ramli Kwan as co-founder revealed to DailySocial, there are currently people who have lost the opportunity of house ownership. And he finds it as a problem that affects many people in Indonesia.

TapHomes applies the “rent-to-own” concept as a bridge to help customers get houses. It allows users to pay rent while saving for the house’s down-payment.

Victor said, most of TapHomes‘ customers are new homeowners who cannot obtain traditional home mortgages; most of the issues are due to incapability to pay a down payment or pay a mortgage loan of at least 15-20% of the price of the house.

Through the application, prospective buyers can simply pay a deposit of 2%, then TapHomes will buy the desired house. The customer will then start to inhabit the house and pay monthly rent starting from 1.2 million Rupiah. The cost is allocated 70% for rent and 30% for savings on home ownership.

Regarding the type of house, the TapHomes team will conduct an analysis according to the ability of prospective buyers. Because it has been purchased, the rental process can be modified or renovated according to residents’ wishes.

The rental period is 3-5 years; and at the end of the lease, the customer will have a savings with a total equivalent value of a 15% deposit for the purchase of a home. They can continue to buy the house in cash or through mortgages.

When the customer cannot continue the house purchase plan at the end of the program, TapHomes and the customer will sell the house to a third party. Proceeds from the sale of the house will be divided according to the proportion of home ownership between TapHomes and customers.

“We make it easier for new families to buy their homes with affordable down payment and the development of regular home ownership, that in 3 years later our customers can apply for mortgages in banks,” said Victor.

Technology Development

TapHomes is said to have processed around more than 2 thousand potential customer submissions. Later on will be curated process of customers who are entitled to get services.

Regarding technology, TapHomes is developing an Automated Valuation Engine that makes it easier for the platform to evaluate the value of house prices more efficiently.

TapHomes currently has some objectives, including expanding to major cities in Indonesia. To date, TapHomes’ focus is still on the Greater Jakarta area, especially in Bekasi, Tangerang and Depok.

“We have received seed funding from VC and previously bootstrapping. TapHomes is now involved in batch 3 Accelerator Program from SYNRGY by the BCA group in and batch 7 Plug & Play Accelerator,” Victor said.


Original article is in Indonesian, translated by Kristin Siagian