Tcash Becomes LinkAja As of February 21st

Tcash officially announced the change of name to LinkAja, which will be effective from 21 February. LinkAja, a fintech BUMN that is no longer just a payment platform belonging to the Telkom Group, is the spearhead to compete in the increasingly competitive digital payment sector.

We previously reported that LinkAja is a j six major SOEs, namely Telkom, Pertamina, Bank Mandiri, BRI, BNI, and BTN. This Fintech BUMN will use a standardized QR Code scheme as the basis for a digital payment platform. It is also expected that they will also partner with Chinese payments giants WeChat Pay and Alipay.

Menurut Fintech Report 2018, Tcash is the third most popular electronic money platform in Indonesia after Go-Pay and OVO. It is reported that the current CEO of Tcash, Danu Wicaksana, will lead the LinkAja initiative.

On the official page presented by Tcash, it is stated that there are no significant feature changes between Tcash and LinkAja. User Existing Tcash just needs to update the application starting on February 21 and it will automatically be converted into a LinkAja consumer. The balance in the Tcash wallet will also be completely transferred to the LinkAja wallet.

Previously in the disclosure to the IDX, the Telkom Group also announced the establishment of a subsidiary specifically dealing with fintech, PT Fintek Karya Nusantara (Finarya). There is no further information about the relationship between Finarya and LinkAja.

Tcash is currently no longer exclusive to users Telkomsel and can be used by any mobile operator user from the middle of last year.