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Tag: Indonesia

  • PPRO Grows in Indonesia

    PPRO Grows in Indonesia

    The payments infrastructure provider has announced the integration of Indonesian buy now pay later (BNPL) pioneer Kredivo to its platform.

    PPRO is partnering with Kredivo – one of Indonesia’s largest and fastest-growing digital credit platforms – to allow more merchants to reach a large pool of underbanked or unbanked Indonesians.

    The integration is a cooperation between PPRO, Kredivo, and DOKU, a leading payment technology company, and enables PPRO to offer the increasingly popular BNPL payment option, as well as split payment and flexible instant credit offerings via Kredico.

    Indonesia continues to be recognized as the world’s hottest battleground for digital payments. The addition of Kredivo to our platform is a milestone in our Indonesia expansion, Kelvin Phua, PPRO head of global market development, said.

    Kredivo currently has more than 4 million users in Indonesia, representing over 50 percent of the local BNPL market.

    The news follows the recent announcement of the integration of two of the most popular payment methods in Indonesia, Jenius Pay and LinkAja, to the PPRO platform. Other payment methods on PPRO’s wider global network include Alipay, WeChat Pay, GrabPay, Bancontact, iDEAL, BLIK, and Boleto Bancário. PPRO raised $180 million earlier this year, taking the firm’s total value to over $1 billion.

    Kredivo has also been expanding of late – it inked a partnership with Standard Chartered in October to offer BNPL loans to the mass market segment via digital channels. The company also launched in Vietnam in August through a joint venture. FinAccel, Kredivo’s parent company also announced plans to go public via a $2.5 billion SPAC merger. The firm had raised US$90 million in 2019 during a Series C funding round to double down on its Southeast Asian expansion plans.

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  • Hey! Kafe ramps up local expansion plan

    Hey! Kafe ramps up local expansion plan

    Indonesia-based digitally-native beverage startup, Hey! Kafe, is expanding its local footprint with 300 stores by the end of next year.

    According to the company, the brand’s expansion plan will be supported by an asset-light model backed by technology. That means a majority of its outlets will be compact booths that minimize capital expenditure and facilitate Grab & Go delivery service.

    Online delivery orders are projected to account for 70 percent of the brand’s sales.

    Founded by Edward Djaja, who is also the founder of Seven Retail, Hey! Kafe has opened 60 stores across the country since its launch in June last year.

    Focusing on the product development process, Hey! Kafe tests more than 20 product concepts each month, targeting the young customer segment with more than 12,000 cups of beverages sold daily.

    “Here in Hey! Kafe, our north star metric is same-store sales growth, which enables the brand to achieve stellar unit economics,” said Djaja. “We are proud to say that our strategy has resulted in a payback period of under 12 months, which is a key milestone for us to scale rapidly in a sustainable manner in the coming years.”

    The beverage retailer is supported by several investors, including Trihill Capital, which backed the company in the seed round. Besides its expansion plan, Hey! Kafe also plans to launch an in-house mobile application next year.

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  • Grab’s Ride-Hailing Services Disrupted In Southeast Asian Countries

    Grab’s Ride-Hailing Services Disrupted In Southeast Asian Countries

    Southeast Asia’s Grab on Tuesday said it was experiencing disruption to its services, with customers and drivers in Singapore, Indonesia, and Malaysia complaining that they were having trouble using the app’s ride-hailing functions.

    “Some of our services are not accessible at the moment,” Grab posted on its Facebook page.

    “We are looking into this and we will update when the app is back up and running.”

    Grab operates Southeast Asia’s most popular “super app”, which provides ride-hailing, food, and grocery delivery, and payments in over 400 locations in eight countries.

    “We are experiencing some technical difficulties with the app and our engineers are working to recover the issue,” Grab said.

  • StanChart Inks Buy-Now-Pay-Later Deal in Indonesia

    StanChart Inks Buy-Now-Pay-Later Deal in Indonesia

    The bank’s branch in Indonesia has announced a partnership to offer Buy Now, Pay Later (BNPL) loans to the mass market segment via digital channels.

    Standard Chartered will offer small-ticket loans to customers in Indonesia via its partnership with Kredivo – one of the country’s largest and fastest-growing digital credit platforms, the bank announced on Thursday.

    While Standard Chartered already enjoys a strong position in the retail affluent segment, we are strengthening and expanding our distribution channels to serve mass-market customers more efficiently,» Jeffrey Tan, Standard Chartered head of Consumer, Private and Business Banking (CPBB), Indonesia, said,

    Customers can enjoy a fully digital onboarding and credit application process, with no face-to-face verification requirement, via Kredivo’s coverage of retailers and AI-driven credit scoring capabilities.

    The bank hopes to ride on the accelerating adoption of digital financial services in Southeast Asia’s most populous nation, as well as improving market sentiment and retail sales as vaccination and pandemic-related metrics continue to improve, leading to higher demand for loans.

    This announcement follows Standard Chartered’s recent partnership with BNPL platform Atome to deliver a wide range of financial services to consumers and merchants across key markets in Asia.

    Kredivo has also been expanding of late – in August, the company launched in Vietnam through a joint venture with Phoenix Holding, a family investment company based in the country. FinAccel, Kredivo’s parent company also announced plans to go public via a $2.5 billion SPAC merger. The firm had raised US$90 million in 2019 during a Series C funding round to double down on its Southeast Asian expansion plans.

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  • Paris Baguette arrives in Indonesia

    Paris Baguette arrives in Indonesia

    Erajaya Food & Nourishment (“EFN”) and Paris Baguette of Singapore (“PB”), officially entered into a joint venture partnership through the signing of a Joint Venture Agreement represented by Ms. Gabrielle Halim from EFN and Mr. Jin-Soo Hur from PB.

    Through this partnership, Paris Baguette, the well-loved fast-casual bakery from South Korea, known for its quality, delicious and innovative array of pastries, breads and cakes, officially enters the Indonesian market. The highly-anticipated debut would make Indonesia the fourth country in South East Asia that Paris Baguette would call home.

    Paris Baguette’s entry into the Indonesian market promises to break through the country’s F&B clutter, by offering elevated culinary concepts and a plethora of delicacies, crafted using premium ingredients, guaranteed to satisfy the most discerning taste.

    Gabrielle Halim, CEO of Erajaya Food & Nourishment, stated, “We are honoured to partner with Paris Baguette to expand its footprint in Indonesia. Their commitment to innovation and quality is in line with our vision to become a leading F&B player in Indonesia. We are certain the food lovers in Indonesia will welcome and enjoy Paris Baguette’s fresh concept and unique offerings when we open our first stores shortly.”

    “We are delighted to partner with Erajaya Food & Nourishment, who shares our vision of making the world a happier place through innovative products and by leading with integrity. Together with our partner, we will bring the high-quality treats that we love from Paris Baguette to Indonesia. Our expansion into Indonesia is a part of our globalization strategy.” said Hana Lee, Vice President of Paris Baguette SEA, SPC Group.

  • Rocket Internet-backed Flash Coffee plans Asia-wide rollout

    Rocket Internet-backed Flash Coffee plans Asia-wide rollout

    The tech-enabled coffee chain, Flash Coffee, is accelerating its Asian expansion plan, making its Hong Kong debut this month and committing to opening its first stores in Japan and South Korea later this year.

    Launched last year, Flash Coffee already operates more than 100 locations across Indonesia, Thailand, Singapore, Taiwan and Hong Kong. The chain aims to increase its network to more than 300 stores, expanding its footprint into Malaysia, Vietnam and the Philippines next year.

    The Hong Kong launch follows Flash Coffee’s Series A funding round led by tech investment firm White Star Capital last April where it successfully secured US$20 million from a range of investors, including Rocket Internet, whose subsidiaries include Global Fashion Group and HelloFresh.

    Located at Golden Centre in Sheung Wan, the chain’s first Hong Kong store is – like its others – designed to “fit the needs of the ‘new normal’ and cater to a bustling lifestyle”. Customers can order through a mobile app and pay before picking the order at the store or have it delivered. Meanwhile, Flash Coffee connects its customers and baristas through individualized consumer and barista mobile apps, matching the order with a nearby pick-up outlet.

    The chain also offers a digital coffee loyalty program on the app, offering gamified challenges and personalized rewards.

    “Hong Kong is already recognized as a city that is willing to embrace technology,” said Jonathan Tsao, MD at Flash Coffee. “Over the past few decades the city has also built up a reputation for its love of premium coffee – but so far, this has only been available at premium prices.

    “Flash Coffee intends to shake things up, by offering a new coffee culture built around technology, affordability, and digitally-driven customer-focused solutions.”

    The launch of Hong Kong’s first Flash Coffee store will be followed by a series of new store openings in Causeway Bay, Mong Kok and Wan Chai by the end of next month. The coffee chain aims to reach 50 stores in the territory by mid-next year.

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  • Vietnam considers lifting Boeing 737 Max ban

    Vietnam considers lifting Boeing 737 Max ban

    The Civil Aviation Authority of Vietnam has proposed that the Boeing 737 Max aircraft be allowed to operate and imported to the country after a ban of over two years.

    The CAAV petitioned the Ministry of Transport to consider greenlighting the aircraft after 178 out of 195 global aviation authorities had lifted the ban on the jet.

    Over 360 Boeing 737 Max aircraft of 35 airlines have resumed service, it said.

    As of Sept.15, the aircraft has operated over 150,000 flights with over 370,000 hours of safe performance.

    Vietnam in April allowed the Boeing 737 Max to pass through its airspace, two years after it was grounded worldwide in March 2019 after 346 people were killed in two crashes in the space of a few months in Indonesia and Ethiopia.

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  • JD opens E-space store in Indonesia

    JD opens E-space store in Indonesia

    JD has introduced its first overseas E-space store through JD.ID – its e-commerce joint venture in Indonesia.

    Dudded JD.ID Electronic Store, the E-space store features an omnichannel model which offers technology and home appliance products from a list of electronics brands, including Huawei, Vivo and Oppo.

    Situated in Aeon Mall Sentul City, West Java, the 1300sqm store also provides experiential zones such as a gaming area and smart home area.

    “The launch of the E-space store in Indonesia proves our commitment to excellent service by offering various shopping platform options to our customers,” said Zhang Li, CEO of JD.ID.

    “We hope that through the inauguration of this newest offline outlet, JD.ID can more closely connect with consumers, especially providing them with convenience, comfort, and freedom in choosing the shopping platform that best suits their needs.”

    The E-space store model was first introduced by JD in 2019 in Chongqing, China, before being brought into other cities.

    Since launching its first omnichannel outlet in 2018, JD.ID has opened five physical stores in Indonesia that focus on omnichannel services.

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  • Foot Locker looking at Indonesia with stores and online platform

    Foot Locker looking at Indonesia with stores and online platform

    New York-based specialty athletic retailer, Foot Locker will be opening two stores and a localized webstore in Indonesia. Signing an exclusive licensing agreement with sports and leisure retailer PT Map Aktif Adiperkasa (MAP Active), the stores are scheduled to open in the fourth quarter of this year. There will be more stores to come in 2022.

    With plans to venture into the Southeast Asia market, Foot Locker acquired Text Trading Company, K.K (atmos) for US$360 million last month. Text Trading Company, K.K owns and licenses the atmos brand, a digitally-led, premium, global retailer headquartered in Japan. The acquisition of atmos will accelerate Foot Locker’s global reach with a highly strategic foothold in Japan, the third-largest economy globally while extending the company’s premium and top-tier offering.

    Noting that atmos is uniquely positioned, chairman and CEO of Foot Locker, Richard A. Johnson said that its innovative retail stores, high digital penetration, and distinctive products have made it a key influencer of youth and sneaker culture. With atmos, the company would be executing against its expansion initiative in the “rapidly growing Asia Pacific market”. Johnson added that this would establish a critical entry point in Japan and the company would benefit from it well.

    Johnson also expressed his excitement to bring atmos into the company’s portfolio brands and build on the strong foundation of this differentiated business. Welcoming atmo’s founder, Hidefumi Hommyo, Johnson said that he is considered as “one of the most influential people in streetwear and sneaker culture.”

    “Our passion for sneaker culture and ability to connect with our customers have been the driving forces of our growth ever since,” said Hommyo. He then emphasised that he was excited to join forces with Foot Locker to propel atmos into the next phase of growth as the company shares the same passion.

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  • Index Living Mall opens again in Indonesia

    Index Living Mall opens again in Indonesia

    Thai home furnishings retailer Index Living Mall Co Ltd has opened a new store under a partnership with Indonesian-based CT Corp in Jakarta.

    s in PT Retail’s Transmart Carrefour complex in the city’s CempakaPutih district. It covers 2,500 square metres of retail space.
    The company’s president and CEO Pisith Patamasatayasonthi said that the company expects to open as many as five to 10 stores next year and annually until 2020 in Indonesia.

    Shafie Shamsuddin, president director and CEO of PT Trans Retail Indonesia, said: “This strategic partnership is expected to provide added value for Indonesian consumers with more and more sophisticated choices of furniture products at Index Living Mall that are integrated in one area with Transmart Carrefour.

    “Surely this will provide a trend of positive and complementary consumer spending needs between Transmart Carrefour and Index Living Mall as well as we help to provide place and space for local products to partner with us.”

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  • Telkomsel chooses Infinet Wireless to provide connectivity in challenging terrain

    Telkomsel chooses Infinet Wireless to provide connectivity in challenging terrain

    Infinet Wireless, the global leader in fixed wireless broadband connectivity, provided its solutions to Telekomunikasi Selular, known by the trade name Telkomsel, one of the biggest cellular telecommunication operators in Indonesia and the sixth largest operator in the world.

    Having most of their Base Transceiver Stations (BTS) with IP microwave technology-enabled, as well as VSAT and optical cable, Telkomsel came to need large bandwidth using more cost-efficient technological solutions at the same time. The telecommunication operator selected Infinet Wireless solutions, such as Quanta 5, among others. It resulted in building up a radio link of 180 km to provide connectivity despite different obstacles, such as obstructive hills in the area, the ocean and the islands.

    Telkomsel selected Infinet Wireless’ orthogonal frequency-division multiplexing (OFDM) radio equipment, ticking the box for the most cost-efficient way for a wireless carrier that provides coverage in rural areas. The company’s technological partner, KISEL Group, a telecommunications services infrastructure provider, supplied the equipment, designed deployment of the links, and carried out support for the deployment of OFDM backhaul. KISEL Group planned to rely on a more cost-efficient solution by taking advantage of the unlicensed 5 GHz frequency band — a steady, carrier-class product, providing high-throughput performance and capable of working in nearLOS / NonLOS conditions.

    KISEL Group turned to Wirakom Sistem, the largest Indonesian Infinet Wireless solutions provider, who contributed to the successful design of a network that delivered the aggregated 108 Mbps service with the longest link ever, which at 180 km is a record-breaking length.

    When comparing vendors’ solutions, KISEL Group representatives spotted Infinet Wireless products’ top-notch technology and necessary resilience to work in extreme weather conditions. Added to this was a high level of user-friendliness when it came to engineers’ work, and the fact that Infinet Wireless solutions are highly cost-effective.

    “We were impressed with Infinet OFDM as one of our rural transmission solutions, especially the new Quanta range, which covers nLOS terrestrial transmission in hilly terrain with good quality and at an affordable price. Thanks also to the Kisel & Wirakom team, which has been supporting us as an intermediary company. It has delivered the service in several projects in Telkomsel, especially related to reducing satellite cost and special area development projects. Infinet has made the impossible propagation possible, delivering sufficient capacity and good quality,” said Teddy Indira Permana, General Manager Transport, Passive & Power Planning Division, PT Telkomsel.

    “The project was challenging due to the remote locations and long-distance of the area we wanted to cover – more than 180 kilometers; but we are more than happy with the Infinet solution deployed. We managed to provide regular and terrestrial areas with the required bandwidth capability needed for the telco systems to run smoothly with high availability performance. In addition, we have also future-proofed the whole wireless infrastructure network for further expansion,” Umar Syatri, Chief Operation Officer / Deputy Chairman of KISEL Group, concluded.

    “We are proud to introduce the best point-to-point solutions to our partner and customer, which have met the requirements. We have delivered a hundred links of Infinet Wireless products, and anticipate Quanta 5 will exceed expectations,” Wiwit Ratno Ongko, CEO of Wirakom Sistem, a distributor of Infinet Wireless solutions in Indonesia, summed up.

    In Indonesia’s diverse landscape, Infinet Wireless technology, especially that of OFDM radio, is proving to be a truly valuable solution, which is why Telkomsel, together with KISEL Group, is planning to expand the current framework. Considering the fact that Infinet Wireless solutions have already proven their productivity, the evolution promises to be even more exciting and profitable.

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  • Indonesia fintech startup Kredivo launches in Vietnam

    Indonesia fintech startup Kredivo launches in Vietnam

    Indonesian fintech platform Kredivo has announced a Vietnam launch through a joint venture, seeking to offer “buy now, pay later” services.

    It has partnered with Phoenix Holdings, a company with a diversified portfolio in consumer, financial services, retail and technology sectors, to form Kerdivo Vietnam JSC, according to a statement from the Indonesian company.

    “The launch of Kredivo in Vietnam, our first market outside Indonesia, is another key achievement and milestone for the business this year,” said its COO Valery Crottaz.

    This is because the country has low penetration of credit cards and a rapidly growing middle class, together with the fast-growing e-commerce market, he said.

    Kredivo will offer “buy now, pay later” services amid rising demand for consumer loans and a large ratio of cash used in purchases.

    It plans to reach Thailand and the Philippines next year. The company also wants to list in the U.S. by the first quarter of 2022.

    Vietnam’s fintech industry is seeing rising competition from both domestic and foreign players.

    Startup Infina had recently raised $2 million in seed funding from five global venture capitalists, while in June, Mfast raised $1.5 million in its Pre-Series A funding from a group of investors.

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  • Indonesia’s Bank Central Asia Targets Digital Growth

    Indonesia’s Bank Central Asia Targets Digital Growth

    Banks are playing catch-up to technology players in one of the world’s largest unbanked markets.

    Bank Central Asia (BCA) is boosting its digital capabilities amid increased competition from tech players in the banking space, according to a report on Wednesday.

    Indonesia’s biggest lender by market value will be investing $200 million to help its month-old digital unit Blu to increase market share ahead of an initial public offering in two years’ time. Blu currently has about 110,000 customers.

    BCA is targeting a fourfold increase in its capital, to four trillion rupiah (S$376.5 million), and is focused on gaining more customers, partners and merchants on its digital platform before the IPO, BCA president director Jahja Setiaatmadja told the publication.

    The country has an unbanked market of 83 million people, or about one-third of the population, and while traditional players have found it tough to expand across the archipelago nation, technology players have an advantage in their ease of scaling operations to meet this demand.

    Indonesia-headquartered super-app Gojek increased its stake in Bank Jago in December 2020 as part of its bid to accelerate financial inclusion in Asia, while Singapore-based e-commerce and gaming company Sea, which recently won a licence to run a digital bank in Singapore, bought unlisted lender Bank Kesejahteraan Ekonomi in January.

  • Indonesia’s Bank Central Asia Targets Digital Growth

    Indonesia’s Bank Central Asia Targets Digital Growth

    Banks are playing catch-up to technology players in one of the world’s largest unbanked markets.

    Bank Central Asia (BCA) is boosting its digital capabilities amid increased competition from tech players in the banking space, according to a «Bloomberg» report on Wednesday.

    Indonesia’s biggest lender by market value will be investing $200 million to help its month-old digital unit Blu to increase market share ahead of an initial public offering in two years’ time. Blu currently has about 110,000 customers.

    BCA is targeting a fourfold increase in its capital, to four trillion rupiah (S$376.5 million), and is focused on gaining more customers, partners and merchants on its digital platform before the IPO, BCA president director Jahja Setiaatmadja told the publication.

    The country has an unbanked market of 83 million people, or about one-third of the population, and while traditional players have found it tough to expand across the archipelago nation, technology players have an advantage in their ease of scaling operations to meet this demand.

    Indonesia-headquartered super-app Gojek increased its stake in Bank Jago in December 2020 as part of its bid to accelerate financial inclusion in Asia, while Singapore-based e-commerce and gaming company Sea, which recently won a licence to run a digital bank in Singapore, bought unlisted lender Bank Kesejahteraan Ekonomi in January.

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  • Subway plans to start selling into Indonesia

    Subway plans to start selling into Indonesia

    Subway, the world’s largest restaurant brand, has signed an agreement with PT Sari Sandwich Indonesia, a subsidiary of Indonesia’s food & beverage retailer, PT Map Boga Adiperkasa Tbk (MBA), whose parent company is PT Mitra Adiperkasa Tbk (MAP). This agreement kicks off Subway’s aggressive plans to expand its international footprint. The partnership will launch Subway restaurants in Indonesia by Q4 2021, with initial locations set to open in the Greater Jakarta region.

    “The demand for Subway restaurants is unprecedented in many markets around the world, including Indonesia,” says John Chidsey, Chief Executive Officer of Subway. “MAP, Indonesia’s leading lifestyle retailer, is the ideal partner to kick off our expansion in the Asia Pacific region, where we know convenient, better-for-you options are in demand. This is just the start of our global expansion plans.”

    A major player in the Indonesian F&B market, MBA has over 590 stores across 33 Indonesian cities serving brands like Starbucks, Pizza Marzano, Krispy Kreme and others. According to the agreement, the Subway brand will be managed by PT Sari Sandwich Indonesia and expands MBA’s business portfolio to eight premium international brands. In addition, Indonesia will be the first-ever market to implement Subway’s exclusive country franchise model globally. Based on this model, MBA will solely spearhead Subway’s development in Indonesia with the goal of establishing strong and steady annual restaurant growth.

    “MBA recognizes the importance of food retailing and works with best-in-class brands, making Subway a natural choice,” says V.P. Sharma, Group CEO of PT Mitra Adiperkasa Tbk.

    The partnership expands growth for both companies, allowing Subway fans in Indonesia to get freshly made, craveable food with fast, friendly and convenient service closer to home.

    “Subway offers delicious, better-for-you sandwich choices that cater to the growing trend of Indonesians looking for a more balanced and healthier diet,” said Anthony Cottan, President Director of PT Map Boga Adiperkasa Tbk. “The Subway model of making every sandwich customized, in addition to its convenience and affordability, will attract many guests and position it for growth in Indonesia for many years to come.”

    The expansion into Indonesia marks the first step in Subway’s continuing plans to grow its presence in the Asia Pacific region. The brand’s restaurants and sales throughout the region, in countries such as South Korea, Australia, New Zealand, Thailand and Singapore, have seen significant success in recent years and Subway expects similar results in Indonesia.

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