DOKU Launches 'Wallet-as-a-Service', Making It Easy for Business Owners to Create Their Own Digital Wallets

DOKU officially released Wallet-as-a-Service (WaaS) service for business partners who want to add electronic wallet features (e-wallet) into its business ecosystem. WaaS services have the function of facilitating user transactions and managing financial flows.

WaaS is supported by infrastructure e-wallet which will be connected by API to the partner ecosystem. At the moment, DOCK collaborates with Tomoro Coffee and Coda as merchant the first to implement WaaS services into company operations.

"So far, license e-money and e-wallet from Bank Indonesia implemented DOKU e-Wallet as one of the payment options in our ecosystem. Through mutual interaction merchant"We got a new idea to optimize this service," said DOKU Co-Founder & COO Nabilah Alsagoff in his official statement.

He added that this innovation will make it easier for people merchant because application-based businesses just need to add features e-money inside it. Meanwhile, WaaS services come in two functions and two market segments, namely:

1. Business E-wallets: to manage money flows within the internal ecosystem merchant. Tomoro Coffee, for example, is noted to need to distribute cash to around 300 branches throughout Indonesia.
2. Consumer E-wallets: to add to the application merchant, allows users top up and transact on the platform merchant. For example, Coda, customers can top up their balance to purchase various content game on this platform.

Previously, in mid-2023, DOKU launched Juragan DOKU to make it easier to manage MSME payment transactions online. online and offline. DOKU boss is targeted to encourage the market social sellers.

DOKU is also now positioning itself as beyond payment, part of its business transition since its inception as payment gateway 16 years ago. This is the next strategy to lead the market in Indonesia and the Southeast Asia region.

Contacted separately, Nabila revealed that the Indonesian market is very fragmented and has different payment behavior according to needs and the environment. "Moreover, merchants' business needs change dynamically. Therefore, we believe this industry needs a payment infrastructure that is scalable and can grow together with their business," he said in a short message to DailySocial.id, Wednesday (24/1).

DOKU WaaS targets the B2B segment and business owners who need financial management, whether internal finances or businesses in the B2C segment. WaaS services can serve categories, such as marketplace, fintech, traditional retail business, FMCG or logistics.

Citing information on the official website, DOKU has more than 150 thousand merchant and 4 million users with transaction volume reaching 360 million and transaction value of IDR 330 trillion (year-to-date).

Indonesia is one of the markets with a large volume of digital payment transactions. According to research Katadata Insight Center (KIC), digital wallets are the payment method that people use most (84%) when shopping online, followed by cash (61,4%) and bank transfers (47,8%).

The presence of the QRIS feature also makes it easier for people to make transactions, both through mobile banking and digital wallet applications. In period January-October 2023, BI recorded that the total volume of QRIS transactions reached 1,6 billion with a value of IDR 24 trillion.