Gojek has collaborated with technology-based bank Bank Jago to integrate Jago as a cashless payment method on the Gojek app in Indonesia. The partnership follows Gojek’s investment in Bank Jago last year, and aims to provide Jago customers increased convenience when transacting on the Gojek app.
According to a joint press release statement, the new feature will be progressively rolled out for Jago customers in phases with immediate effect, enabling them to connect their bank account and Jago pockets to the Gojek app and make seamless cashless payments for Gojek services which includes transport, food, bill payments, among others. Jago’s Pockets feature enables customers to manage their savings and expenditure by creating pockets of funds for different purposes, such as daily necessities, vacation savings, and shopping. These pockets can also be created for shared savings and expenditure with family and friends.
Once connected, each transaction Jago customers make on the Gojek app will be directly debited from their Jago account or pockets. The press release said that this eliminates the need for top-ups and also enables them to track their Gojek transaction history on the Jago app, “bringing about greater convenience and improvements in financial planning”.
Gojek and Jago will continue to work towards delivering more innovative and convenient digital financial services for consumers, which will include eventually enabling consumers to open a bank account with Jago via the Gojek app.
Nila Marita, chief of corporate affairs, Gojek, said that the collaboration represents a step forward in both companies’ common goal to accelerate financial inclusion and literacy in Indonesia. “As strategic partners who are committed to financially enabling Indonesians from all segments of society, we see this integration as a true milestone in our efforts to increase access to digital financial services. It will bring about a new level of convenience and financial planning, enabling Jago customers to seamlessly pay for and track their spending on Gojek services that have become a crucial part of the daily lives of millions of people,” added Marita.
Tjit Siat Fun, compliance director and corporate secretary, Bank Jago said: “The initial integration between Gojek and Jago will introduce many new benefits for our customers when they transact on the Gojek app. Beyond helping them save on time and costs that are usually required for top-ups, the integration will also help them to better understand and manage their finances. For example, they can create a dedicated pocket for their Gojek expenditure to easily track their transactions. In time to come, we expect that this will make customers more disciplined in their spending and saving habits.”
Gojek’s integration with Bank Jago is Gojek’s next stop following its merger with Tokopedia earlier in May. The merged entity, GoTo Group, was later “scrutinised” for potential monopolistic behaviour by Indonesia’s anti-trust agency Komisi Pengawas Persaingan Usaha (KPPU) later on in the same month.
Earlier this month, Reuters reported that Bank Jago was aiming to leverage on the technology giant’s data to create customer profiles and market financial products, as it shifted its focus on profitability this year. Regarding the ongoing merger, Bank Jago’s chief executive Kharim Indra Gupta Siregar said that "with Tokopedia coming into the picture, it creates another digital ecosystem that can be partnered up with Bank Jago and clearly it will be foolish not to pursue.", according to Reuters.
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