LinkAja Starts Trial of Sharia Features

LinkAja is now starting the feature trial LinkAja Sharia for some users. This feature is contained in the LinkAja application, so it does not become a separate application.

"We haven't launched LinkAja Syariah yet, which is still in progress testing," explained LinkAja CEO Danu Wicaksana to DailySocial.

Danu explained, in this latest feature there is a difference in treatment for deposit (floating funds) which in-top up users use Islamic banks which is affiliated with a BUKU IV bank. Transaction contracts, products, services, and promotions have been adapted to sharia provisions.

Confirmed all merchant LinkAja can accept payments with LinkAja Syariah. Discounts and cashback provided to the user is fully borne by the merchant, not LinkAja.

Therefore, he made sure, in terms of consumer experience there is nothing different. The whole process is located in back end system for users who enable this feature.

LinkAja also provides an option to disable it or reactivate it via a special link. "Will return to normal, if the user disables the sharia feature."

To activate this feature, users can open the "Account" tab. Then open the LinkAja Syariah section, you will find the "Activate" button. It doesn't take long, at that time the entire LinkAja system from users will switch completely to sharia.

Planning to raise external funds

Quoted from Dataword, Danu said he would complete the Series A funding by the end of this year. In the following year, it will raise the next series by opening the option to involve external investors.

"I don't know which sector it will come from, because it hasn't started yet," said Danu.

Previously, he had said that the company had never closed pintu for the private sector who wants to become an investor. "We are open to anyone, we never said it was impossible for the private sector (to enter). Why not?," he said on the sidelines of the 2019 Perbanas Indonesia Banking Expo, Wednesday (6/11).

Currently, there are around eight SOEs that are interested in participating in the Series A funding that is being raised, including Garuda Indonesia, Angkasa Pura I & II, Pegadaian, Taspen, Jasa Marga, Kereta Api Indonesia, and Perum Damri. All of these candidates will enter through the issuance of new shares.

Currently 25% of LinkAja's shares are owned Telkomsel. Bank Mandiri, BNI, BRI each hold 20%. Then BTN and Pertamina each at 7%, and Asuransi Jiwasraya 1%.