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Tag: jakarta

  • Coach opens first cafe and fine-dining experience in Indonesia

    Coach opens first cafe and fine-dining experience in Indonesia

    Coach is expanding into the food and beverage business by launching its first concept dining experience in Jakarta, Indonesia.

    The destination comprises The Coach Restaurant and Coach Coffee Shop at Grand Indonesia Mall.

    The Coach Restaurant, designed by Coach creative director Stuart Vevers and William Sofield of Studio Sofield, serves traditional New York steakhouse cuisine.

    It reportedly incorporates natural and industrial materials in its architectural aspects, a nod to Coach’s craftsmanship and New York roots.

    Meanwhile, the Coach Coffee Shop contains New York cityscape wallpaper and industrial design elements.

    Coach and Brawn & Brains Coffee collaborated to open the world’s first cafe in Singapore last year. A month later, the luxury retailer opened Coach Airways, an aviation travel-themed store at the Freeport A’Famosa Outlet in Malacca, Malaysia.

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  • Indonesia’s GoTo in talks with TikTok over potential e-commerce partnership

    Indonesia’s GoTo in talks with TikTok over potential e-commerce partnership

    Indonesia’s biggest tech firm GoTo Gojek Tokopedia said on Friday it was in talks with short video app TikTok over a potential e-commerce partnership in the Southeast Asian country.

    No final deal has been reached, GoTo added in a statement. The company also said the discussions did not include a takeover plan or any sale of more than 50 per cent of its shares to any party.

    Indonesia in October banned online shopping on social media platforms to protect smaller merchants and users’ data, after which TikTok had to close its e-commerce service TikTok Shop. TikTok has 125 million users in the country.

    Indonesia’s small and medium enterprises minister Teten Masduki told Reuters in November that TikTok had spoken to five companies including GoTo, Bukalapak.com and Blibli about possible partnership.

    Bloomberg earlier this week said TikTok had struck an agreement to invest in a unit of GoTo, citing people familiar with the matter.

    Indonesia’s e-commerce market is expected to grow to around $160 billion by 2030 from $62 billion this year, according to a report on Southeast Asia’s internet economy by Google, Singapore state investor Temasek Holdings and consultancy Bain & Co.

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  • Electronic retailer Mobile World grows revenues in Indonesia

    Electronic retailer Mobile World grows revenues in Indonesia

    Erablue, the electronics retail chain of The Gioi Di Dong (Mobile World ) in Indonesia, has increased its monthly sales to VND30 billion from VND17.5 billion (US$0.7 million) in the latter part of 2022.

    With five stores, it reported monthly revenues of VND25 billion ($1.05 million) in the first half of this year.

    The VND5 billion ($0.2 million) per store represents higher sales than in Vietnam, Doan Van Hieu Em, CEO of two of the country’s leading electronics retailers, The Gioi Di Dong and Dien May Xanh, said. The latter also sells home appliances.

    While the amount is only equivalent to 0.5% of that of a Dien May Xanh store, it is enough to achieve positive EBITDA (earnings before interest, tax, depreciation, and amortization), he noted.

    Erablue is a joint venture between The Gioi Di Dong and Erafone Artha Retailindo, a subsidiary of Indonesia’s largest technology product retailer.

    It opened its first store in Jarkata late last year before expanding to Tangerang, an area considered a new economic driver.

    Erablue, which opened its sixth store this month, targets 25 more by the end of this year, halving the plan it made at the beginning of the year.

    Em said it is very hard to find showroom-sized properties in Indonesia, and the joint venture has to rent five to seven adjacent buildings and turn them into a big enough place for an Erablue store.

    But the potential of Indonesia’s electronics market is double or even triple that of Vietnam, he added.

    The Vietnamese electronics retailer has determined that sales and after-sales services, especially delivery and installation, will be a strong point of Erablue stores.

  • Indonesian coffee brand Fore Coffee opens first store in Singapore

    Indonesian coffee brand Fore Coffee opens first store in Singapore

    Fore Coffee, the herald of Indonesian coffee culture, is proud to announce its highly anticipated entry into the Singaporean coffee scene – launching its first store in Singapore on November 9, 2023, at Bugis Junction. With a journey spanning over five years of unwavering commitment to excellence, Fore Coffee has risen to prominence as a prominent player in Indonesia’s coffee landscape, boasting an impressive network of 150 stores across the nation by September 2023.

    Fore Coffee, as the torchbearer of Indonesian coffee culture in Singapore, offers not just a cup of coffee, but a gateway to an inspiring everyday life. Founded in 2018, Fore Coffee has emerged as a powerhouse in Indonesia’s coffee industry, marked by its dedication to quality and innovation. The brand’s success lies in its adept use of cutting-edge technology, from tools to its mobile app, combined with skillful bean blending techniques.

    With a resolute commitment to sourcing highly curated coffee beans directly from Indonesian farmers in regions like Aceh Gayo, Toraja, West Java, and Bali, Fore Coffee’s beans undergo a meticulous roasting and preparation process before being expertly crafted by their baristas. This commitment to authenticity extends to their signature coffee blends that promise to redefine Singapore’s coffee culture in the ‘Indonesian way.’

    Fore Coffee’s narrative is one of craftsmanship, tradition, and community spirit. With a reverence for Indonesian soil, the brand meticulously curates exceptional coffee beans that honor the flavors unique to each region. This journey embodies sustainability and supports local farming communities. The brand’s skilled baristas harness the potential of Indonesian coffee beans to craft flavours that are truly unique. Every cup reflects a commitment to excellence, sustainability, and elevating the coffee experience to an art form.

    Fore Coffee’s business journey has been marked by profitability since 2021 in Indonesia, even amidst pandemic challenges. The brand has successfully expanded into tier 2 and tier 3 cities, showcasing resilience and adaptability. Backed by an impressive funding from renowned investors including East Ventures, SMDV, Pavilion Capital, Agaeti Venture Capital, Insignia Ventures Partners, and several angel investors, Fore Coffee’s growth is fueled by its exceptional performance.

    Vico Lomar, Co-Founder & CEO, Fore Coffee said, “Fore Coffee’s brand positioning and menu reflect its role as an ambassador of Indonesian coffee culture in Singapore. The brand’s signature coffee blends, crafted with a deep understanding of the discerning Singaporean palate, redefine the local coffee landscape through an Indonesian lens.”

    The Singaporean coffee market presents a compelling opportunity for Fore Coffee’s entry. According to research conducted in June 2023 in collaboration with Redseer, a strategy consultant, the Singapore coffee market is projected to grow at a CAGR of 5%, reaching 1,286 USD million by 2027. Singaporeans’ strong affinity for coffee, averaging 6-7 cups per week, aligns perfectly with Fore Coffee’s mission. The brand recognizes the mature coffee market in Singapore, combined with a love for Indonesian beans, particularly Arabica. With an understanding of local preferences and a commitment to innovation, Fore Coffee is poised to flourish in Singapore’s coffee landscape.

    Fore Coffee’s expansion into Singapore is centred around its exceptional signature beverages. From the beloved Gula Aren Latte to the Pandan Latte and innovative Butterscotch Sea-Salt Latte, these creations are meticulously curated to resonate with local preferences.

    Drawing insights from Flavor Group Discussions (FGDs), Fore Coffee is tailoring a selection of 16 key SKUs to capture the essence of Singaporean coffee culture. By adhering to local nutritions preferences, Fore Coffee empowers individuals to enjoy their drinks consciously, promoting healthier individual choices with varying sugar levels and diary options. Fore Coffee’s irresistible coffee offerings start at just S$4.5, ensuring affordability and accessibility for coffee enthusiasts across Singapore.

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  • H&M Indonesia Boosts Productivity, Compliance, Employee Engagement, and Sustainability with YOOBIC

    H&M Indonesia Boosts Productivity, Compliance, Employee Engagement, and Sustainability with YOOBIC

    H&M Indonesia today revealed outstanding results from its partnership with YOOBIC, the leading employee experience platform for frontline teams in the retail and hospitality spaces. Adopted across the global retailer’s more than 60 stores and 290 frontline staff in Indonesia, YOOBIC’s all-in-one solution has significantly elevated employee engagement, communication, and productivity, as well as enhancing efficiency, compliance, and sustainability.

    Recognizing the considerable progress made since rolling out YOOBIC in 2022, H&M Indonesia received the coveted “Project Launch of the Year” title at this year’s YOOBIC Frontline Excellence Awards. The judges commended the retailer for achieving an impressive 99% user engagement rate and 97% compliance in operational, visual, and cash office standards since implementing the YOOBIC platform.

    The adoption of YOOBIC’s comprehensive frontline employee experience platform has greatly improved communication within H&M Indonesia. With features like private messaging, video calls, and group chats, staff members can easily interact with each other, fostering a strong sense of community and teamwork. Social media-style newsfeeds further enhance this environment by providing a space for co-workers to share announcements, success stories, and sources of inspiration. Frontline staff can also use the platform to directly communicate with store managers and company leaders, sharing advice, concerns, and feedback.

    Armed with YOOBIC’s unified digital platform, H&M Indonesia’s customer-facing staff also have the ability to automate and expedite manual tasks, enabling them to better manage their time and focus on higher value objectives, including building customer relationships. The clothing brand’s retail leaders, meanwhile, have hailed YOOBIC’s digitization of daily operations as a game-changer. Electronic checklists give store managers the ability to easily follow their team’s task completion, while the inclusion of real-time analytics and automated dashboards allows for the tracking of key performance indicators (KPIs) and compliance by HQ, ensuring that shopper experiences consistently meet the highest standards across all locations.

    YOOBIC’s extensive L&D capabilities have proved a hit with H&M Indonesia as well, bolstering the company’s dedication to ongoing employee growth. Store leaders can now seamlessly integrate training into their team members’ workflows, delivering interactive courses directly to their mobile devices in easily digestible chunks. This microlearning approach is enriched with data, providing managers with comprehensive insights into their employees’ progress and needs.

    “With YOOBIC, we’ve been able to harness frontline digitization and real-time analytics to solve a number of stubborn operational challenges, including difficulties around communication, productivity, compliance, and training,” said Karina Soegarda, Communications Manager, H&M Indonesia. “YOOBIC’s digitization of manual processes has also allowed us to cut paper usage by 30%, boosting our company-wide commitment to greater sustainability.”

    “Through real-time data sharing and digital task management, H&M Indonesia boosted productivity, launched 25 campaigns in six months, and elevated decision-making with analytics, all while making a significant reduction to paper usage,” said YOOBIC’s Paul Mabire, Head of Sales, APAC. “We’re proud to partner with a brand so committed to operational excellence and employee engagement — we can’t wait to keep innovating together!”

    YOOBIC’s collaboration with H&M Indonesia is an important element of the company’s wider expansion strategy in the Asia Pacific (APAC) region. According to the CBRE Asia-Pacific Retail Flash Survey report of January 2023, 71% of APAC retailers are planning to expand or open new stores this year. By 2025, retail sales in Southeast Asia, Australia, and New Zealand are projected to reach $1.77 trillion, positioning the region as the fourth-largest global market by 2050.

    YOOBIC stands ready to support APAC’s retail boom, providing a mobile-friendly and digitally-enabled workplace experience that enables retail staff to excel while fostering engagement and loyalty. YOOBIC’s comprehensive platform for frontline employee experience has been extensively tested and proven successful in hundreds of thousands of retail stores worldwide. Constantly evolving with product innovations and incorporating new technological features including AI features, YOOBIC effectively drives frontline employee communication, training, and operations, meeting the evolving needs of the industry.

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  • Indonesia’s Express Cargo Airlines starts operations

    Indonesia’s Express Cargo Airlines starts operations

    Express Cargo Airlines has gained its domestic, non-scheduled Air Operator’s Certificate (AOC) in Indonesia and started commercial flight operations on 13 August.

    The carrier is one of three cargo start-ups launching in Indonesia this year, alongside BBN Airlines Indonesia and Raindo United Services, each with a single B737-800(BCF).

    Express Cargo Airlines operates a single B737-300(F), PK-ECA (MSN 24789), based out of Jakarta Soekarno-Hatta, and a Cessna (single turboprop) C208EX Grand Caravan for regional cargo flights. It currently offers charters to eastern islands in the country.

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  • Indonesian Based Apparel Startup Claude sewn the Seed in Funding

    Indonesian Based Apparel Startup Claude sewn the Seed in Funding

    The fast growing direct-to-consumer apparel company, Claude, that aims to be everyone’s go to brand for going shopping has just announced the closing of its seed round.

    This independent brand that introduces relevant elevated looks has been busy stealing the hearts of the global market, stepping out from the comfort zone of domestic base and successfully penetrate international waters, from Southeast Asia, to Europe, to the United States. Suspected to be one of the first brands from Indonesia that are daring to be global and succeeded. “In this globalized world where technology enables us to cross-border real-time, becoming global immediately enhances your total addressable market hundred times over while simultaneously strengthening the strong brand equity we carefully preserve”, Co-Founder and CEO Tommy Budihardjo says.

    Revolutionary in its business model, Claude uses micro-batches system for new designs and produces more only after the demand is proven, hence minimizing waste while enhancing the speed in offering of new designs. Combined with its own real-time analysis, Claude understand the customers’ behaviour and taste real time and therefore can adapt instantly. “Apparel industry is one of the biggest contributor of waste – especially due to unsold stock – the industry is overdue for a change, and we are happy to lead the charge with our business model that successfully cut finished goods waste by 90% and maximize the revenue and profitability at the same time”, the CEO stated.

    Claude’s latest round will be used to enhance current product offerings and strengthen the market it has already penetrated. The fund was led by one of the early-backers of Tokopedia and Kakao Corp, CyberAgent Capital and supported by the family office Prima Fund I. “Indonesia is one of the largest consumer retail markets in the world. With Claude’s strong brand value along with the experiences brought by the management team, we believe that the company could bring its unique value propositions and be well-accepted by the huge Indonesian and SEA apparel markets.”, says Nobuaki Kitagawa, Managing Director of CyberAgent Capital, Inc.

  • AirAsia expands Asia presence with Penang-Hong Kong route

    AirAsia expands Asia presence with Penang-Hong Kong route

    AirAsia continues to expand its presence in Asia with a route to Hong Kong from its third biggest hub in Penang starting 10 August 2023.

    This route marks the airline’s seventh direct international route from Penang and is set to further boost regional inbound tourism to the state, bolstering an already thriving state tourism industry. The three weekly flights will add to a total of 217 flights weekly from Penang to both domestic and international destinations.

    The route was announced by YB Yeoh Soon Hin, Penang State EXCO for Tourism and Creative Economy (PETACE); Ooi Chok Yan, CEO of Penang Global Tourism (PGT); and Kenneth Tan, Director, Government Relations (Northern Region) at AirAsia at Komtar, Penang.

    YB Yeoh Soon Hin, Penang EXCO for Tourism and Creative Economy (PETACE) said: “We are confident that the addition of three weekly flights from Hong Kong will not only reinforce Penang’s status as a top tourist hotspot in Malaysia but will also contribute significantly to the island’s overall appeal. Hong Kong is part of China’s Greater Bay Area (GBA) which refers to the Chinese government’s scheme to link their rapidly developing regions together into an integrated economic and business hub. By connecting with China’s GBA, it would be advantageous for Penang to attain higher tourism and economic growth.”

    “The Penang State Government firmly believes that through collaborative efforts with industry players such as AirAsia, we can harness the full potential of our local tourism industry.Forging strong partnerships with private sectors, implementing innovative marketing strategies and investing in infrastructure development will undoubtedly boost visitor arrivals, extend their length of stay and enhance their overall travel experience.”

    Riad Asmat, AirAsia Malaysia CEO said: “We are excited to reconnect Penang to Hong Kong after launching it for the first time in 2009 where we established Penang as a hub at the same time. We are also thrilled to be the only low-cost carrier connecting both islands directly, providing more value and greater accessibility to our guests. This is an exciting historical route for AirAsia and we anticipate a remarkable response from both leisure and business travellers alike.

    “AirAsia Group has the largest international connectivity from Penang with a market share of 40%. This expansion not only strengthens AirAsia’s foothold beyond Asean but also reinforces our commitment to fostering economic growth through tourism. We look forward to working closely with the state government to support the tourism industry and stimulate air travel to the Pearl of the Orient.”

    In celebration of the route announcement, the airline is offering incredible promotional fares starting today from RM299 all-in* one-way for travel period from 10 August 2023 to 26 October 2023. Click on the ‘Flights’ icon on the airasia Superapp or website for booking and explore the iconic Hong Kong for a steal!

    AirAsia Group operates 217 flights weekly via ten routes to Penang from Kuala Lumpur (67x weekly), Johor Bahru (28x weekly), and Langkawi (21x weekly) as well as Singapore (35x weekly), Ho Chi Minh City (7x weekly), Jakarta (11x weekly), Bangkok (14x weekly), Medan (28x weekly), Surabaya (3x weekly), and Hong Kong (3x weekly).

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  • Indonesia AirAsia launches Jakarta-Perth route

    Indonesia AirAsia launches Jakarta-Perth route

    Indonesia AirAsia has launched its inaugural flights on the Jakarta-Perth route, becoming the only airline to offer direct flights between the two cities post-pandemic. The new route, supported by the Western Australian Government and Perth Airport, initially operates four times a week, providing over 1,400 visitor seats weekly.

    The demand for travel between Indonesia and Australia is high due to convenient flight times and the appeal of both destinations for various activities, including shopping, dining, adventure, beaches, and education.

    Eddy Krismeidi Sumawilaga, Head of Indonesia Affairs and Policy of Indonesia AirAsia, expressed excitement about the new route and reported positive occupancy rates for the inaugural flights. The airline expects the Jakarta-Perth route to be popular among leisure travellers and Indonesians visiting Perth for business, leisure, education, and visiting friends and family. The route also offers Australians the opportunity to explore popular tourist destinations in Indonesia. With the support of Tourism Western Australia and Perth Airport, the airline anticipates strong demand for this new connection.

    The Western Australian Minister of Tourism, the Hon. Roger Cook MLA, highlighted the significance of the Jakarta-Perth flight in strengthening the relationship between the two destinations and enhancing Western Australia’s reputation as a gateway. Kate Holsgrove, Acting CEO of Perth Airport, emphasized the positive impact of the new service on Western Australia’s business, student, and tourism sectors, with the potential to attract more visitors and students from Jakarta.

    The Consul General of the Republic of Indonesia in Perth, Listiana Operananta, expressed support for the new route and encouraged more West Australians to explore Indonesia and vice versa, noting the potential for further exploration between Jakarta and Perth due to their similarities and short flight duration.

    The flights between Jakarta and Perth are operated on Airbus A320 aircraft with a capacity of 180 seats. The flight duration is approximately 4.5 hours, and the frequency is four times a week.

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  • Cebu Pacific to launch Laoag flights in May

    Cebu Pacific to launch Laoag flights in May

    Budget carrier Cebu Pacific is set to mount flights to the Ilocos Norte capital of Laoag starting May 22, making it the 35th domestic destination in the airline’s network.

    Cebu Pacific said flights from Manila to Laoag will be daily, as the airline seeks to tap travelers seeking to explore the Ilocos region.

    “Laoag plays a crucial role in preserving the country’s rich history and culture, and we are excited to finally be able to bring more Juans to this beautiful city,” President and Chief Commercial Officer Xander Lao said in a statement.

    “We hope the launch of the Laoag route will encourage more people to travel and experience the Ilocos region,” he added.

    The carrier reported a P14-billion net loss in 2022, marking an improvement from the P24.9-billion net loss incurred in the previous year as it cut its operating loss by about half to P11.4 billion.

    The company is set to add 11 more aircraft to its fleet this 2023, seeking to return to profitability within the first quarter of the year.

    Shares in Cebu Air Inc., which operates the carrier, were trading up by P0.05 or 0.12% at P41.70 apiece as of 11:59 a.m. on Wednesday.

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  • Indonesia surpasses Thailand as Vietnam’s largest car exporter

    Indonesia surpasses Thailand as Vietnam’s largest car exporter

    Indonesia surpassed Thailand as Vietnam’s largest car exporter in 2022, with 72,671 cars exported.

    According to statistics released by Vietnam Customs, Vietnam imported 173,467 cars in 2022, an 8.5% increase from 2021.

    Indonesia, Thailand and China were the biggest car exporters to Vietnam, but Indonesia surpassed Thailand to be the country that exported the most cars to Vietnam, with 72,671 cars exported in total, a 64.2% increase from 2021, and worth $10.5 billion.

    Thailand exported 72,032 cars worth $1.42 billion to Vietnam in 2022, a 10.9% decrease in number from 2021. The number of cars imported from Indonesia and Thailand amounted to 144,703 cars, accounting for 83% of all imported cars. China stood in third place, exporting 17,240 cars to Vietnam in 2022.

    For the first time in decades, the number of cars sold in Vietnam in 2022 reached 508,547 cars, according to statistics from the Vietnam Automobile Manufacturers’ Association and TC Motor.

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  • Indonesian fashion label Claude launches in Singapore

    Indonesian fashion label Claude launches in Singapore

    The store people have been impatiently waiting has finally arrived. The go-to IT fashion brand, Claude, has officially opened its first brick-and-mortar store at Takashimaya Shopping Centre, Singapore on July 29th, 2022.

    As it always go with Claude, they celebrated the grand opening of their 1600sqft store with flair and much grandiose. Hosted by Aimee Cheng-Bradshaw and accompanied by plenty of familiar faces and icons in the fashion and lifestyle industry from Andrea Chong, Melissa C. Koh, Nellie Lim, and Savina Chow. The famous Singapore socialite, Jamie Chua, also attended wearing Claude special Singapore collection, The Wildflower.

    “We have been receiving a lot of love from Singapore over the years,” said Christie Johana as the Co-Founder and Creative Director of Claude. “It is definitely the right step for us to finally open our first international store in our amazing and beautiful neighbour, Singapore.”

    Curved outlines, flora installation, and a splash of lilac and mint green definitely screams Claude. The Indonesian label known for its elegant dresses, pleated pieces, and its modern Gen-Z sub-brand Everyday definitely stole the show with its beautiful store. “The goal is to create an experience for everyone while touring the store and feel comfortable, relax and unwind in the massive lounge room, and taking pictures on many of the spots.”, the Creative Director said.

    This community focused brand also arranged its first ever international Claude Squad event at SPRMRKT, Dempsey Hill, just a day before the grand opening event. “One of our most important mission is to connect people who have passion for fashion, and we love to do it by hosting a gathering with our beloved Claude Squad!”, stated Christie.

    Some of people’s favourite fashion stars and fanatics were also seen during the gathering, from Iman Fandi, Hailey Teo, and so much more. To add the excitement, consumers can see all of them rocking Claude’s Singapore special collection that will be available in store, while posing in front of their beautiful garden backdrop and iconic #ClaudeSquad signage.

    With the opening of the store, The Wildflower collection is exclusively available offline before their official launch on Claude’s website on August 1st, 2022 and August 8th, 2022. Pieces vary from original prints, pleated items, and their novel knitted pieces.

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  • 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 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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  • 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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  • 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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