GoTo Financial noted that Annual User Transactions (AUT) GoPay had reached 63 million as of December 2022.
Heaptalk, Jakarta — A financial technology business unit of GoTo Group, GoTo Financial, has officially released the GoPay applications nationally.
Previously, the GoPay feature had been provided since 2016 within the Gojek application. However, realizing the high public demand for financial access, the presence of the GoPay application, which is separate from Gojek and Tokopedia, is expected to attract users who have yet to use the ride-hailing or e-commerce service, especially people in tier 2 and tier 3 cities in Indonesia.
In the official launch agenda held in Gojek Office, Jakarta (26/07), the CEO of GoTo Group, Patrick Walujo, admitted that the GoPay application would not replace the existing GoPay service. He also claims that this version is still in its early stages, and the company will continue to provide many digital financial innovations according to people’s needs.
He added, “We also performed numerous investment activities in the advanced security feature to protect this application. Hence, the company has robust intentions to continue innovating in granting excellent financial access, one of which is presenting the GoPay applications.”
Bank Indonesia said that 97 million adults were in the unbanked category or did not have an account at a bank. By launching a separate Gopay application, GoTo Group hopes to provide accessible financial access for people in the unbanked category.
GoTo Group has embedded numerous superior features, including:
- Free instant transfers anywhere up to 100 times per month, including transfers between GoPay accounts, GoPay accounts to bank accounts, and between bank accounts.
- Users can buy credit and internet packages at affordable prices and experience minimum administrative costs for paying several bills, covering BPJS, PLN, and other bills.
- An expense reporting feature that can automatically provide user transparency regarding their expenses. This feature can also help users in planning their finances better.
- Five security layers include users’ phone number verification, PIN, biometrics, email verification, and upgrade to GoPay Plus.
The President of GoTo Financial, Hans Patuwo, admitted, “We also set up every aspect so that the GoPay application can reach everyone, from the light size of less than 25 MB on Android to the concise design to provide the fantastic user experience,”
According to Hans, GoPay’s Annual User Transactions had reached 63 million as of December 2022. Hitherto, the usage of the GoPay feature is still dominated by transactions in the GoTo ecosystem, spanning GoFood, GoCar, and GoRide. Nevertheless, Hans also claims that transaction growth outside the GoTo ecosystem, such as paying for Netflix subscriptions, demonstrates a positive trend.
Carrying out the company’s philosophy that is always oriented to customer necessities, GoTo Financial will continue to present numerous financial features. Instead of making GoPay a digital bank, Hans affirmed that the platform would partner with the banking companies, indicating that GoPay will remain a fintech platform.