Server-Based State-Owned Bank E-Money Products Will Soon Be Merged So LinkAja

State-owned fintech company LinkAja (PT Finarya) will be inaugurated on March 1, 2019. The four banks that are members of the Himbara (State Bank Association) will in parallel migrate their server-based e-money products into LinkAja.

BNI became the first bank to announce this consolidation information to the public last week, along with T-Cash.

General Manager of the E-Banking Division (EBK) BNI Anang Fauzi explained that the dissemination of this information was a step by the bank in conducting socialization which according to the rules had to be done at least a month in advance.

BNI spreads information in the form of short messages to consumers about the merging of Yap! and UniqueQu into this LinkAja.

On its website, BNI explains that LinkAja is a synergy fintech product owned by BUMN (Himbara, Telkomsel, Pertamina, and Jiwasraya) which provide services for the convenience and convenience of transacting for the needs of the community.

LinkAja will be a state-owned fintech product that focuses on running a server-based e-money business. LinkAja provides holistic services with various payment features, such as bill payments (electricity, PDAM, BPJS, internet), transactions at merchants, payment for transportation modes, to online purchases.

Anang continued, currently in parallel his party is preparing the migration process properly so that the user experience remains good and comfortable. Gradually the migration started from March 2019. However, he was reluctant to explain in more detail whether BNI would be the first bank to merge its system with LinkAja.

"Gradual migration in March. Will BNI fit on that date? Don't know yet, see technical readiness later because it is still coordinating. The launch date will have a separate press release," he explained to DailySocial.

UniqueQu released in 2016, while Yap just last year. When totaled, both already have around 400 thousand users. As for the amount merchantof 200 thousand spread throughout Indonesia.

Anang hopes that the idea of ​​combining all server-based electronic money platforms and Himbara and BUMN e-wallet will be a positive thing. The reason is that the acceptance will be very broad because it involves all existing SOEs.

BRI's IT Director Indra Utoyo added that the merger with LinkAja only applies to server-based e-money products. Meanwhile, the card-based ones are still managed by the banks themselves.

"What is being transferred is not Brizzi but server-based T-Bank customers. Brizzi is still managed by us. The plan is that by March 2019 it will be able to switch to LinkAja," he said.

BRI released a server-based e-money product called T-Bank in 2013, which is now said to have around 520 thousand users. Meanwhile, 12,5 million Brizzi cards have been distributed.

"Of course we hope in the era of with LinkAja collaboration, it can be more profitable."

Meanwhile, Bank Mandiri also confirmed that the inauguration of LinkAja will begin on March 1.

"Yes. Plan launch March 1," said Bank Mandiri Director of Information Technology and Operations Rico Usthavia Frans.

Currently, Bank Mandiri has E-Money and E-Cash which in total reaches 47 million.

Rico didn't explain in more detail how the fate was Independent Pay after the presence of LinkAja. Previously, it was informed that Mandiri Pay will be a payment application with a QR scanner that is integrated with e-money, debit and credit cards. The model is like the Yap carried by BNI.

Another state-owned bank, BTN, also participated in participating in LinkAja's ownership. Compared to other state-owned banks, BTN's innovation is not aggressive. BTN has just released the resulting Blink e-money card co-branding with Bank Mandiri E-Money.

Currently 99,99% stake in LinkAja (with entity Finarya) mastered Telkomsel. Later ownership Telkomsel This will be diluted with the entry of a number of SOEs that are members of the consortium. BNI, BRI, and Bank Mandiri will each control 20%, Telkomsel (25%), BTN (7%), and Jiwasraya (1%). There is no further information about Pertamina, which is also said to be part of the consortium, and the number of its holdings.