The Fate of My Wallet After Merging with PayPro

Indosat Ooredoo announced on the official website which was actually posted about a month ago, regarding the name change my wallet become a PayPro payment tool application. It turns out that this change is not just rebranding, because PayPro apparently has a different legal entity flag with Indosat and has no affiliation with the company at all.

By e-mail received DailySocial, Indosat Ooredoo, represented by M Adimas as Head of Integrated Marketing Communications revealed that the strategy to merge Dompetku into PayPro was the result of a strategic collaboration between the company and PT Solusi Pasti Indonesia (SPI) as the developer. over the top (OTT) platforms.

He hopes that the merger of Dompetku can provide a better digital financial service experience. This independence will give Indosat Ooredoo the ability to serve a wider range of customers and work on new markets that have not previously been reached by Dompetku.

"PayPro can also focus more on expanding and adding features and services [..], the result will indirectly build long-term relationships with customers and build sustainable values. In the end the ecosystem becomes wider, PayPro becomes more competitive in the fintech industry that more competitive," he said.

With this merger, continued Adimas, PT SPI will be the party responsible for maintaining the PayPro application. However, the electronic money license of Dompetku is still wholly owned by Indosat Ooredoo.

For your information, Indosat Ooredoo has been declared the owner of an electronic money license by Bank Indonesia since July 3, 2009.

Dompetku users can still use their Dompetku account via UMB 789# or through the Dompetku app until June 30, 2017. After that date, customers can only access it via the PayPro menu on 123*4# or via MyIM3 app and Paypro app.

Indosat Ooredoo's next commitment to fintech services

When asked about Indosat Ooredoo's next steps for the development of fintech services, Indosat was not willing to provide detailed answers. Adimas only mentioned that they are committed to continuing to provide innovations that make it easier for customers, including fintech services.

"So Indosat will continue to develop other fintech services, which are really needed by customers."

Dompetku is one of the digital business units owned by Indosat Ooredoo, after Cipika Apps, Cipika, Ideabox, Indonesia Mobile Exchange (IMX), and Ondego (banking services via SMS).

Indosat Ooredoo claims Dompetku is the only electronic money that adheres to a business model telco agnostic and bank agnostic. This means that it is an independent money service without being tied to a telecommunications operator and does not require a bank account.

My Wallet active user claimed reached 4 million people in September 2016 or a 6-fold increase year-on-year (yoy) with a daily transaction rate of 800 thousand. It is targeted that the number of users this year can reach 10 million.

So far, Dompetku has collaborated with 70 e-commerce partners and embraced 82 banks for fund transfer services.

PayPro is determined to be one-stop payment

PayPro CMO Adelheid Helena Bokau explained that by collaborating with Indosat Ooredoo as an exclusive partner, his party is targeting the use of PayPro for people who want to make payment transactions from multiple sectors, not only facilitated by banks, online shops, or telecommunication operators.

Currently PayPro is working with KAI Commuter Jabodetabek (KCJ), Alfamart Group, Indomaret, Grab.

"We continue to be committed to providing mobile services that can serve daily financial transactions with a high level of security. user friendly, and is open to all subscribers of telecommunication operators," said Heidi, Adelheid's nickname.

Heidi continued, later all products and services available on Dompetku will be available on PayPro. Starting from remittance services, mutual fund investments, loans, sending cash, and others.

Officially, SPI through PayPro only started its services in March 2017. The new PayPro application can be downloaded for Android users, while the iOS version will follow in the coming weeks.

"There will be an expansion of products and services from Dompetku after it merges into PayPro. We want to make PayPro as simple a payment tool as possible. So, people don't need to bring their wallets, they just pay for everything via their smartphone."