Posts in Category: fintech

Strengthen Go-Pay, Go-Jek Acquire Three Fintech Startups

Go-Jek Announce Acquisition of Kartuku, Midtrans, and Mapan to Strengthen Go-Pay / Jurnalweb

 

Go-Jek officially acquired three fintech startups, Kartuku, Midtrans, and Mapan to strengthen Go-Pay expansion in 2018. All three have different business focuses, although both exist in the payment service provider ecosystem.

Not mentioned how much the value of the acquisition. However, joining these three fintech will strengthen Go-Jek’s position as a provider of digital wallet services in Indonesia. These three platforms are considered by Go-Jek has its own specialization in providing payment services both online and offline.

Kartuku, known as the largest offline payment service provider in Indonesia. Midtrans is then known as the largest online payment gateway service provider. And

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Opening the Gate: From Rumah Kreatif Jogja to Payment Gateway

Vincent, Merchant Acquisition Manager of Faspay, served as the speaker

Rumah Kreatif Jogja (Creative Home Jogja) recently held a sharing session on Thursday (20/7). They worked together with Bank BRI, one of the largest bank in Indonesia, and Faspay, one of Indonesia’s online payment gateway system provider. They raised a discussion over Payment Gateway and its application for business.

Introduction to Payment Gateway

“If we can make a metaphor, payment gateway is like a director while the business is an actor,” said Vincent, Merchant Acquisition Manager of Faspay. He then explained the benefits of using payment gateway. “Payment gateway is a system that provides online solutions to handle transactions

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Indonesian Startup Founders in 30 Under 30 Forbes Asia Lists (Part II)

Forbes Asia 30 Under 30 lists/ Forbes

Forbes Asia has released another 30 Under 30 lists for Class of 2017. This is the second time for Forbes Asia to release the lists. There are 10 categories and 300 people in total, mostly entrepreneurs, that made it to the lists. More than 65% of the 300 honorees founded their own company. Furthermore, the magazine also highlighted the diversity and empowerment in this year’s honorees’ list.

From Indonesia alone, there are 10 honorees from 8 categories. In addition, 9 out of 10 honorees from Indonesia are startup founders. In previous article we have introduced four founders that made it to the list. Hence, this article

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Indonesian Startup Founders in 30 Under 30 Forbes Asia Lists (Part I)

Forbes Asia 30 Under 30 lists/ Forbes

Forbes Asia has released another 30 Under 30 lists for Class of 2017. This is the second time for Forbes Asia to release the lists. There are 10 categories and 300 people in total, mostly entrepreneurs, that made it to the lists. More than 65% of the 300 honorees founded their own company. Furthermore, the magazine also highlighted the diversity and empowerment in this year’s honorees’ list.

Infamous Knitted Noodle by Cynthia / BBC

Out of 300 honorees, there are around 29 honorees from Southeast

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OJK Extends For P2P Lending License Application Deadline

Otoritas Jasa Keuangan/ Rayapos

 

The Indonesian Financial Services Authority (OJK) provides leniency for financial technology (fintech) businesses that run peer to peer (P2P) lending to register. OJK extend registration time until the end of this year.

According to Director of Financing Institute Supervisory Tuahta Aloysius Saragih explains that in the OJK Regulation No. 77/2016, fintech companies running P2P lending must register by June 29, 2017. Now, they are granted enrollment time.

Because the ability to meet the requirements were different. Therefore, he said, OJK will encourage business actors to register to the regulator first. Later, from applicants who enter the OJK will be selected.

For companies that

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Association Urges OJK Realization to Build Fintech P2P Lending Industry

Source: OJK

Asosiasi Fintech Indonesia (Aftech Indonesia) urged the Otoritas Jasa Keuangan (OJK) for more serious about their commitment in building fintech industry, especially sectors P2P (peer-to-peer) lending or borrowing money service activities based on technology.

According to Vice Chairman of the Aftech Indonesia, Adrian Gunadi, fintech stakeholders currently waiting the realization of the OJK’s commitment after the issuance of the OJK Regulations/Peraturan OJK (POJK) issued in December 2016, namely regulation No. 77/POJK.1/2016 on Money Lending and Borrowing Service Based Technologies of Information (Layanan Pinjam Meminjam Uang Berbasis Teknologi lnformasi (LPMUBTl)). But until now the regulations are still not provide a significant advancement for fintech in Indonesia. Since the regulation was published, only

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Hope for the Best: Startup Predictions for 2017

While it may feel like the end of the year was just yesterday, we are currently in the first quarter of the year. We have witnessed many startups breakthrough back then in 2016.  It is worth noting though that startup have just become lifestyle in Indonesia since five years ago. It is just relatively normal when some perform better while others still have to face several problems.

DailySocial, a media technology focuses on information, opinion, and discovery, has published Indonesian Tech Startup Report 2016. The report consists of a survey to investors that sheds some light about which sectors we should watch and focus in

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Bukopin Strategy to Embrace Fintech

BNVLabs as Startup Incubation for Fintech. (Photo Source: MetroTVNews)

 

Bank Bukopin collaborate with PT Kibar Kreasi Indonesia to provide startup incubation center. Startup incubation center called BNVLabs targeting startup focused in the field of financial technology (fintech) in Indonesia. This is an integrated program that encourages the development of fintech in Indonesia. BNVLabs will work to form a digital ecosystem in finance. Not only do investments such as venture capital, BNVLabs intend to seek potential startup, to guide, and to bring them together with existing industry players.

Yansen Kamto, CEO of Kibar as a pioneer of Gerakan Nasional 1000 Startup Digital, said this collaboration being strategic steps to drive growth in the field

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Indonesian Online Marketplace Startups to Target Fintech Sector

Bukalapak, one of e-commerce big player in Indonesia, made the first move toward fintech service. Bukalapak recently launched BukaReksa, a micro site for users to invest through mutual funds. Working together with Bareksa, the first integrated mutual funds marketplace in Indonesia, BukaReksa has started to operate since January 2017.

According to Bareksa, Bukalapak position is platform provider for BukaReksa visitors while Bareksa acts as the sales agents.  The transaction process in BukaReksa is similar with Bukalapak only with more details and confirmations. Only with IDR10,000 or US$0.74, which will be placed exclusively in CIMB-Principal BukaReksa Money Market, users can start investing. This will make it easier for Bukalapak users to join and invest.

Preparing for the Future

Collaboration and synergy between e-commerce, fintech companies, and financial marketplace has succeeded

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Fintech Chances in Indonesia: Gathering Insights for Bigger Picture

fintech in Indonesia

Thanks to technology developments in recent years, many industries has shifted and adjusted its practice. Financial system is not an exception as the industry has evolved from bank driven to consumer driven. Fintech or financial technology, according to Bank Indonesia, is a fusion between technology and financial features that transform business models. This would enable unregulated players to run the service as well as regulated financial institution.

Most of fintech players are playing in payment sector/ IFA & DailySocial


The growing number of startups joining financial market marked the shift from Fintech 2.0 to Fintech 3.0.  According to Indonesia Fintech Association (IFA), fintech players faced significant growth until 78% in

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