Indosat Ooredoo's Big Ambition to Develop Dompetku

Bright prospects and wide opportunities make electronic money increasingly being added to by issuing companies. One of them is Dompetku, an electronic money product issued by Indosat Ooredoo.

Now the features embedded in the e-wallet system my wallet not only useful as a means of paying electricity tokens or buying credit, but also extending to credit loans to taking cash at ATMs around the world. Even increase cooperation co-branding cards to issue an ATM card my wallet.

Randy Pangalila, Group Head of Mobile Financial Services Indosat Ooredoo, said that Dompetku's business growth began to increase rapidly since the company implemented a business model. telco agnostic and bank agnostic. This means that independent money services are not tied to telecommunications operators and do not require a bank account.

Then, his party also intensively made various breakthroughs in cooperation with various cross-industry parties to become merchants, and co-branding map.

He claims, compared to a year ago, Dompetku's business growth has increased 6 times. Until September 2016, active users of Dompetku reached 4 million people, with a daily transaction rate of 800 thousand. Meanwhile, the amount of money in circulation reached Rp 5,5 trillion.

"We are targeting the number of Dompetku users to reach 10 million in 2017 and by the end of this year we can reach 5 million users with a transaction value of between Rp. 6 trillion to Rp. 7 trillion," he said, Thursday (10/11).

Of the total transactions, in the first place, many users use Dompetku for credit installments. Then, for top up pulses, remittances and payments at retail outlets, lastly for online payments.

Randy continued, Indosat is also developing four ecosystems in four marketing channels to encourage more massive use of Dompetku. Indosat has four marketing channels, first at 400 thousand pulse stalls at various points, second at 30 thousand modern Alfamart and Indomaret minimarket outlets.

Third, ATMs and banking branch offices that have a shared ATM logo for cash withdrawals. Finally, partnering with Erajaya for the opening of outlets, the number of which has now reached 300 outlets.

"Indosat is very serious about developing digital financial services and supporting the National Non-Cash Movement (GNNT). We encourage the electronic money ecosystem, the first step of Know Your Consumers (KYC), by making the user so registered. Then, encourage them to cash in, transfer funds between cash to fellow friends, up to cash out."

So far, Dompetku has collaborated with 70 e-commerce partners and embraced 82 banks for fund transfer services. Indosat has also cooperated with 237 active merchants.

Encourage users to use the app

Randy admitted that most of the transactions that occur in the Dompetku system are accessed via feature phones by accessing *789#. This condition corresponds to ownership feature phone still dominates in Indonesia around 70%, while the rest are smartphone users.

Dompetku users in terms of social strata are indeed designed for C and D class people, meaning they belong to a group unbankable. In terms of age, Dompetku users are in the range of 17 - 35 years.

The profile, he continued, reflects this condition also in Dompetku. "Most of my Dompetku users still use it feature phone. Actually the service is the same, but with the application it will be more comfortable from the user's side. That's why we're encouraging them to switch to apps with various promos."

Launch debit card with Bank of China via Union Pay network

Not only that, Indosat is also active in issuing ATM cards with various parties, from the community to banking. Randy admits that the number of Dompetku card owners is still below 10% of the total 4 million active users.

To reactivate, this time Indosat in collaboration with Bank of China issued the first debit card in Indonesia using the Union Pay network. Co-branding cards This will later be used for remittance services, cash withdrawals, and services cash out.

This card will begin to be distributed and can be actively used at the end of this year by visiting Bank of China branches. This business development is expected to provide more benefits for Indonesian workers in China and vice versa for cash transactions.

Bank of China is claimed to be one of the oldest banks in China with 470 million debit card users and 58 million credit card users. In China, Union Pay already has an ATM network of up to 14 million units with around 7 million active merchants, while outside China there are 7-8 million ATM units. In Indonesia, Union Pay hascover around 60%-70% ATM network for easy cash withdrawals for its users.