Indonesia Fintech Industry News - Sep 2017

Indo Premier launches payment system

Indo Premier is a private brokerage house which has invested in online platforms, stock trading system and the IPOT Fund which is an online marketplace for mutual funds. The new IPOTPay is a system allows customers with savings to invest in money-market mutual funds. The yield is approximately 7%.

Go-Jek makes it to Fortune Magazine list

Fortune magazine has recognised Go-Jek as one of the 56 companies that have “changed the world” alongside other companies such as Apple, and Unilever. The “Change the World” list recognizes companies with annual income exceeding US$1 billion. Go-Jek currently has 300,000 driver partners and incorporates a successful online payment system. The criteria for the list includes social impact factors.

Pundi-Pundi raises US$4 mil

Pundi-Pundi, a fast-growing mobile payments and micro-loan startup announced the closing a pre-A round of funding worth USD 4 million. Investors in the round include a major public listed technology company from China. Pundi-Pundi means "wallet" in Bahasa, and aims to boost the development of a cashless environment, while at the same time provides consumer access to micro loans. Pundi-Pundi has already partnered with over 500 merchants in Indonesia. Android and iOS users can make daily transactions with their smartphones.

Iflix launches telco billing with Fortumo

Indonesians may now pay for their iflix through a telco billing system. Iflix is an online service for movies and TV entertainment. The billing will be done monthly via user’s regular subscription for telecommunication services. Fortumo partners merchants such as Google Play, Spotify and Electronic Arts in 90+ countries.