Overview

Indonesia, the world’s fourth most populous country, is home to a significant unbanked population, contributing an estimated 6% of unbanked adults globally. While e-money usage has surged in recent years, its penetration remains largely concentrated in vertical industries such as transportation services and small retail merchants. This limited scope leaves vast untapped potential across diverse communities, including:

• Property
• Manufacturing
• Schools and campuses
• Social communities
• Corporates

In total, approximately 58.5 million potential customers are spread across these sectors. As digital transformation accelerates, many communities aim to develop apps to meet their members' needs. However, building apps that increase member engagement presents unique challenges, especially for those requiring customized payment solutions that integrate:

• Basic financial transactions (bank transfers, P2P transfers, bill payments, e-money top-ups)
• Access to broader ecosystems, such as QRIS merchants
• Alignment with each community’s distinct visual branding

Solution

Finnet addresses these challenges with its Finpay Money Co-Branding Service, a bundled solution designed to provide robust e-money platforms and community-specific apps. This service caters to partners with or without existing applications by offering:

1. Low operational costs: Communities require minimal capital for operational expenditure and capital requirement clearance.
2. Co-branding e-money licenses: Partners can leverage Finpay’s license for their own operations.
3. Seamless deployment: Effortless product setup and release through Finpay’s co-branding platform.
4. Top-tier security: The platform employs state-of-the-art security tools, certified personnel, and compliance with the latest ISO security standards.

Despite its robust offering, Finnet initially faced challenges during integration with business partners, including: