Mobile App Payment Systems

jstar

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We all know OVO and GoPay by now of course. They are heavily competing for the customers by offering cash backs which can easily top 20%. And with the heavy use of GoCar and Grab, it seems credit cards are used less and less. In the malls every self respecting restaurant offers deals with these two.

But there is some new competition.

One is called Cashbac. (Without the 'k'.) It is rather unique since there is no top-up, it connects to your credit or debit card.


The other is Dana. For me it's already a bit of a faux pas they have invested in BBM integration. (BBM, really?) And there have been quite some complaints about the system not functioning.




About complaints: I do get from time to time issues that a system fails the moment you want to pay. It can be very frustrating, and often the restaurant staff is not very motivated to have it fixed (I saw them even removing the big sign promising discount up front when they found out it didn't function).
 

dafluff

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We all know OVO and GoPay by now of course. They are heavily competing for the customers by offering cash backs which can easily top 20%. And with the heavy use of GoCar and Grab, it seems credit cards are used less and less. In the malls every self respecting restaurant offers deals with these two.

But there is some new competition.

One is called Cashbac. (Without the 'k'.) It is rather unique since there is no top-up, it connects to your credit or debit card.


The other is Dana. For me it's already a bit of a faux pas they have invested in BBM integration. (BBM, really?) And there have been quite some complaints about the system not functioning.




About complaints: I do get from time to time issues that a system fails the moment you want to pay. It can be very frustrating, and often the restaurant staff is not very motivated to have it fixed (I saw them even removing the big sign promising discount up front when they found out it didn't function).
Dana is the latest entry into the app wallet market in Indonesia...they're supported by Alipay. It's tough competition between them and OVO and GoPay right now, and some other smaller wallets have already consolidated. I have an article half written about these, maybe I'll find motivation to finish it this weekend....heh.
 

rabbit_39

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LinkAja for BUMN companies (including Telkomsel's previous attempt at m-banking)
 

jstar

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There are also hybrid systems. So they offer an e-wallet but mainly for their own restaurant chains, so as a loyalty card. Not sure if they plan to expand.

One of these is Boga.

I just made this picture at one of their Shabu restos....

1024
 

MieTekTek

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I'm using a lot of ovo, especially this month, since lebaran id around the corner and they have lots of cashback offers.

I came across a new one that's promoted in MyTelkomsel app - Jenius. They offer a debit card to use along with the app.
 

jstar

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That Jenius offers a lot besides e-wallet, as deposito (term deposits) and access to ATM's (with VISA), but also semi TransferWise or PayPal functionality. But that's not surprising since in fact you open a bank account. With BTPN. That also means they can make difficulties* if you don't have a KTP and NPWP.

I haven't seen it accepted yet at any restaurant or shop. Perhaps I just overlooked it but it doesn't seem popular (yet).

* It could also have ramifications on tax reporting and an implication is that if you don't want it anymore, you can't just stop using it and remove the App from your smartphone. You will have to close the account.
 
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El_Goretto

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Jenius is awesome. Far better service than any other bank in Indonesia for day to day.

They give you a Visa debit card which works all over the world with a 100jt daily limit. And that's just one of the perks.

Recentky, they've added the possibility of holding balances in USD, SGD and JPY.

I wrote about it in the following:



 

jstar

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Do I remember correctly they (Jenius) offer a 7% deposito?
 

El_Goretto

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Correct. And 5% savings account which can be withdrawn any time.
 

R Cameron

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@El_Goretto I saw in your other thread about Jenius it came up that it's WNI only, any update to that information? I don't have a WNI spouse.
 

MieTekTek

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I tried to sign up for Jenius using my SKTT but the process and questions asked makes it difficult due to me not having income earned in Indonesia. Will try using my wife's ktp when I have the time.
 

El_Goretto

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@El_Goretto I saw in your other thread about Jenius it came up that it's WNI only, any update to that information? I don't have a WNI spouse.
No, I don't have any more info on that. I will try to ask them some day and if they do, I'll ask them to write an article about it to be published here.
 

jstar

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@El_Goretto I saw in your other thread about Jenius it came up that it's WNI only, any update to that information? I don't have a WNI spouse.
C2DAC9AB-3D3C-4414-A910-62B1B5B5D9BA.jpeg


In the English version it states somewhere that when you have no KTP & NPWP, those of the guarantor will be used?! So one doesn’t have to be WNI it seems but I’m not so sure whether on KITAS without Tax ID it can be done.
 

jstar

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The other is Dana. For me it's already a bit of a faux pas they have invested in BBM integration. (BBM, really?) And there have been quite some complaints about the system not functioning.
Dana is the latest entry into the app wallet market in Indonesia...they're supported by Alipay
Dana is in fact the result of a joint-venture between EMTEK, the Indonesian telecom conglomerate (SCTV, Indosiar, ...) who provides the money, and Ant Financial which is the company of Alipay and provides the technology.

As Tokopedia and OVO are fully integrated, you see the same now with Bukalapak and DANA.

1065
+
1066
=
 

jstar

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So it seems most have chosen sides and strategic partnerships. And thus the e-wallet war also includes a main part of the online marketplace.

The weird thing about the Dana technology, is that Lazada (a competitor for Tokopedia and Bukalapak) is fully owned by Alibaba. And the Alibaba Group obviously owns Ant Financials and the Alipay platform.

Talking about Bukalapak, that company is bigger than you'd expect; it's one of the four $1 billion startups in RI, next to Tokopedia, GoJek and Traveloka.
 

jstar

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As @rabbit_39 already alluded to, the telecom operators also tried to jump on the bandwagon.

Esp. since with e-money the customers could easily buy pulsa and charge prepaids. But in the extended e-wallet arena they have not been very successful. Besides the regular merchants as IndoMaret or Alfamart and providers of electricity and water, you see them sometimes as payment possibilities at DAMRI (the bus service) or so.

Those solutions are:

tCash from TELKOMSEL
IMG_7983.PNG

PayPro from INDOSAT
IMG_7982.PNG

UANGKU from Smartfren
IMG_7985.JPG
 
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jstar

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One of the eldest providers of e-wallet solutions in Indonesia, is DOKU. They already had working solutions over 6 years ago.

IMG_7984.PNG

This is from the company PT. Nusa Satu Inti Artha.

Never heard of them, you will say. But then we see this company is a subsidiary of PT Elang Mahkota Teknologi Tbk.

Which sounds familiar .... 🤔.... could it be? ...... Ah yes ....EMTEK

Is that called diversification? Betting on multiple horses? Not putting all your eggs in one basket? Choosing multiple technologies to increase the chance of selecting the winner?
.
 
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I never use Cashbac.
but i love Dana.
because if u notice now, gopay and Ovo have limited their cashback discount into monthly
it means: i use ovo in Hoka hoka bento today, and received 60.000 cashback, so i cannot get cashback again until July. It is per month and per tenant.

but with Dana, it resets every week..

there is also Link Aja (TCash replacement)

because of these, i always forget to bring real cash :(
 

jstar

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Yeah their rules are rather different and there a lot of small print; with OVO and Hypermart it's monthly while GoPay and Farmer's it has been weekly. And often the cashback is limited to 20.000 or so.

I know Link Aja can be used for McD and KFC but for the rest I never see it.
 

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