Fintechnews-印度尼西亚金融科技报告（英文）-2018.5-185页_18mb

Indonesia Fintech Landscape Report - May 2018

Core Statistics

• Population: 261.12 million
• Banked Population: 48.9%
• Active Social Media Users: 130 million
• Internet Penetration: 143.2 million
• GDP Growth: 5% per annum
• Percentage of Borrowing from Financial Institutions: 17.2%
• Mobile Subscriptions: 415.7 million
  • Urban: 72.4%
  • Semi-Urban: 49.4%
  • Rural: 48.2%

Fintech Market Overview

• Total disclosed Fintech investment (2017): USD $176.75 million
• Transaction value in the Fintech market (projected 2018): USD $22,338 million
• Annual growth rate of transaction value: 16.3%

Fintech Ecosystem

The Indonesian Fintech ecosystem is diverse, encompassing various sectors such as:

• Payment solutions
• Lending services (Peer-to-Peer and Crowdfunding)
• Digital banking
• Insurtech
• Capital markets
• Data security
• Consumer protection

Regulatory Environment

Bank Indonesia (BI) Fintech Office

• Launched in November 2016 to support the growth of technology-based financial services.
• Four main duties:
  1. Facilitating discussions and idea sharing
  2. Providing business intelligence to Fintech companies
  3. Assessing the potential, benefits, and risks of Fintech services
  4. Acting as a one-stop shop for policy details

National Payment Gateway (NPG)

• Launched in December 2017 by BI, it provides a shared payment infrastructure and integrates electronic payment channels.
• Consortium members: PT Artajasa Pembayaran Elektronis, PT Rintis Sejahtera, PT Alto Network, PT Jalin Pembayaran Nusantara
• E-money interoperability: Four main e-money issuers (Bank Mandiri, BCA, BRI, BNI) have signed agreements for interoperability
• Second phase preparation announced in March 2018, including:
  • Implementation of Multi-Lane Free Flow system on toll roads
  • Payment facilities for 20 main utilities (electricity, phone bills, etc.)

Fintech Regulation (Reg 19/12/2017)

• Designed to support innovation while maintaining customer protection and financial stability.
• Registration requirement: Fintech providers must register with BI unless already under OJK supervision (e.g., P2P lending services).
• Cryptocurrency stance: Prohibits use as a payment tool but does not regulate mining or trading.

Regulatory Sandbox

• Approved in April 2018: Toko Pandai was the first company to be approved for the BI sandbox.
• 15 other services providers have registered to join the sandbox, including:
  • Cashlez Mpos
  • Pay by QR
  • Bayarind Payment Gateway
  • YoOk Pay
  • Halo Money
  • Saldomu
  • Disitu
  • PajakPay
  • Wallezz
  • Lead Generation
  • Netzme
  • Mareco Pay
  • iPayMu

OJK Developments

• Regulation on Financial Technology-based Lending Services No. 77/POJK.01/2016 defines P2P lending services.
• Rules for registration:
  • Must be an established legal entity
  • Maximum 85% foreign ownership
  • IDR 1 billion capital at registration, IDR 2.5 billion at licensing
  • Prohibited from offering other services like securities or guarantees
• 40 P2P lending services registered with OJK in April 2018, including:
  • Akseleran
  • Dana
  • Merdeka
  • Findaya
  • KlikACC
  • Aman Cermat Cepat
  • Relasi
  • Activaxu
  • Toko Modal
  • TunaiKita

Key Fintech Players

Payment Solutions

• PT AINO INDONESIA (AINO): Focuses on smartcard development and multi-issuer e-money integration.
• Ayopop Teknologi Indonesia: Mobile app for bill payments, with options for credit card, bank transfer, etc.
• Bayarind: Payment gateway for e-commerce, supports B2C and B2B transactions.
• Cashlez: EMV card-present processor, helps reduce interbank transfer costs.
• Dimo: Payment and remittance system for users without bank accounts.
• E2Pay: Offers a complete payment solution with 15 payment channels.
• Easypy: Secure cash payment service for 250 million Indonesians.
• Espay: E-commerce payment solution with B2C2B concept.
• Faspay: Payment gateway with services integrated with BNI.
• Finnet: Electronic payment provider, part of Telkom Indonesia.
• Flip: No-cost inter-bank transfer app, licensed by BI.
• Fusion Payments: Streamlined online payment platform for developing markets.
• Go Pay: Digital payment solution by Go-JEK, contributing 30% to e-money transactions in 2017.
• Indomog: Online payment gateway with integration to 140 games and Facebook Credits.
• Intrajasa: Remittance company connecting Indonesians across Asia, licensed by BI.

Summary of Key Points

• Indonesia has a rapidly growing Fintech sector with significant investment and transaction volumes.
• The regulatory framework is evolving, with BI and OJK playing key roles in fostering innovation while ensuring stability and consumer protection.
• BI has introduced a Fintech office and a regulatory sandbox to support new technologies and businesses.
• OJK has set up regulations for P2P lending and is working on a sandbox similar to BI's.
• A wide range of Fintech services are available, including payment gateways, lending platforms, and digital financial solutions.
• Collaboration between financial institutions and Fintech companies is on the rise, driven by the need for innovation and improved customer experience.
• The growth of mobile and digital payments is supported by high internet penetration and active social media users.