Indonesia Fintech Industry News - October 2017

Pundi X – a blockchain startup in Indonesia

Pundi X is a blockchain provider which will bring cryptocurrencies to shops, cafes, and convenience stores. It can be deployed in retail outlets, allowing users to purchase items with cryptocurrencies in any retail store. Pundi X builds on the existing business model of cashless payment systems launched early 2017, and uses smart phones to scan QR codes. There are already 100,000 registered users and over 500 merchant partners in Jakarta using Pundi X.

Modalku P2P lending wins UN award

Modalku, a peer-to-peer lending (P2P) applications company has won a prestigious United Nations award. Indonesian fintech start-up Modalku won the Global SME Excellence Award from the International Telecommunications Union (ITU). The award is presented to startups that provide the most innovative technological solutions for current problems in the society. Modalku offers a digital platform that brings together borrowers seeking and lenders. Modalku is currenly Indonesia’s biggest P2P lending platform, amidst multiple developments in P2P lending in Indonesia.