Save Money in Jakarta With Cashback and Mobile Apps

Mar 15, 2019 4:25:51 PM / by Michael Wu Gunawan posted in Jakarta, tips, work-life balance, guide, tech startups, industry insights, Mobile Apps, emoney, fintech, lifestyle

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Bank regulations, creditworthiness, and geographical challenges of an archipelago have strongly contributed to limited access to banking solutions in Indonesia. A staggering 66% of the population, or around 180 million Indonesians, are unbanked. Yet, there are many ways to engage the unbanked, like creating an alternative credit scoring system or digitizing private sector wage payments, but what took the center stage is e-money (electronic money). e-money is great because it's a very convenient way to top up, particularly for people living in the rural areas, it doesn't require a bank account to setup, and there's no monthly fee attached that's typically seen in banks. With a high mobile penetration rate among the unbanked (7 out of 10 people who don't own a bank account owns a mobile phone) and low usage of financial services among smartphone users in the country (less than 40%), Indonesia is a very attractive market for fintech (financial technology) companies to come in and provide alternative digital banking solutions and other services. Needless to say, entrepreneurs, banks, and conglomerates caught on pretty quickly and competition in the industry has become very intense, very quickly. Currently, there are over 100 apps more or less with an e-money/e-wallet concept in the market.

While they're fighting for market dominance, end consumers are reaping the benefits. Just by being informed and tech-savvy, you can exploit and leverage it to help you make the most out of your money! There are also other extremely practical apps that can potentially help you to save big on dining, entertainment, and fitness options in Jakarta that will be discussed further below.

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Startup Indonesia: An Ecosystem for Unicorns

Jan 25, 2019 5:25:27 PM / by Michael Wu Gunawan posted in Startup, ecommerce, Indonesia, industry news, Unicorn, Mobile Apps, ecosystem

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Read me in Bahasa

Before I left Indonesia to pursue my tertiary education in the United Kingdom back in 2014, I recall there was little buzz around ICT and the infrastructure supporting it was notably poor, startups and mobile apps weren't really a thing either and there wasn't any ride-hailing or e-commerce solutions available (commercially at least). During my time abroad, I relish at the seamless integration of technology into my daily life. The likes of Uber, Ocado, Deliveroo, and Amazon have drastically changed my lifestyle. Everything was so convenient, I would never be able to enjoy this in Indonesia, certainly, so I thought.

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