Shopping Trends Change, Cashlez Focuses on Expanding the Integration of Cashless Transaction Acceptance

Startups payment gateway and provider point of sale Cashlez focuses on pursuing integration with various companies to expand access to cashless transaction receipts in Indonesia, as the current spending trend shifts to online because of the pandemic.

Cashlez CEO Teddy Tee explained, non-cash transactions are now increasingly used during the pandemic. The company sees this trend by pursuing partnerships with various companies so that more consumers can experience the convenience of non-cash transactions comfortably and safely.

This time the newest announced partnership is together startup Vospay. There are more than 7 thousand merchant Cashlez can now provide Vospay digital credit card payment options to its consumers through the Cashlez application.

"It's pretty easy, merchant Cashlez simply activates Vospay on the Cashlez App so that customer You can make installments for up to 12 months just by entering your cellphone number," he explained in an official statement, Wednesday (23/9).

Separately, to DailySocial, Teddy explained the reason the company cooperates with Vospay is because it has an attractive business model. They provide credit limit facilities for selected consumers from finance companies (finance) partnered with Vospay.

“One of Cashlez's commitments is to become the best integrated business solution for business players, as well as the best partner for banks and non-banks businesses. In realizing this commitment, Cashlez always innovates to provide the best for customers merchant, one of which is by expanding payment options.”

As a note, Vospay have a different business model with players most. In disbursing loans, they mitigate risk by cooperating with finance companies to sort out customers who have a good credit history and deserve a credit limit.

The finance company will send an SMS containing an activation link for selected customers who receive a credit limit from Vospay. After registration, this limit can be used to shop at merchant Vospay partners and choose installment payment options ranging from 3 months to 12 months.

Merchant these come from various industries. There is a site E-commerce beauty and fashion, electronics, furniture, gold investment, travel, and so on. As for multi-finance partner At Vospay there are Maybank Finance, Mega Finance, MPM Finance, JTO Finance, Adira Finance, Indosurya Finance, Mandala Finance, and BFI Finance.

Vospay CEO Tito Tambayong revealed, in order to expand the Vospay user base, the company plans to open up opportunities for debtors to get installment facilities by applying online. online through merchant Cashlez.

Next Cashlez plan

Teddy said that this pandemic had also affected the company's performance, although he did not elaborate further on what the impact would be. These conditions make companies adapt to see what services can be maximized.

"We are still looking for merchant new, currently our merchants have more than 7 thousand and our target by the end of this year can reach 10 thousand merchant. "

Some of these achievements have been seen since the first half of this year, including the innovation of the Cashlez-on-Delivery service for Fabelio; ShopeePay; Artajasa accept payment virtual accounts at ATM Bersama; VISA for Visa Business Payment Solution Providers (BPSP) services to facilitate B2B payments.

Next, POST for payment integration; and Commonwealth Bank, provides CommBank BizLoan in the Cashlez application. “There will be other collaborations with several banks and other non-banks in presenting new services this semester. In the near future Cashlez will present sharia services.”

Through its subsidiary PT Softorb Technology Indonesia (STI), which was acquired through IPO proceeds, will be Cashlez's route to enter the transportation, parking, and so on industry. Teddy said that STI is experienced in trains, readers for several toll roads, and parking solutions.

"In the near future we will also enter Ancol Dreamland in non-cash payments. So, in the future, the continuity of STI and Cashlez will be very good.”

Together with STI, both of them will work together to accept electronic money cards in the CashlezOne POS application. Thus, all banks that have obtained a license from the regulator as issuing banks prepaid card can accept payments made by consumers through merchant Cashlez.