Expanding the Ecosystem, DANA is Ready to Compete with GoPay

A payment technology (fintech) startup, DANA will focus on expanding the ecosystem by increasing collaborations next year. In addition, strengthening technology and user data security. DANA CEO Vincent Iswara assessed that collaboration can expand the use of digital payment services.

“We are open to digital players or merchant partners in the market to be able to meet the needs of the community,” he said at the DANA Market Overview and Media Award 2020 event, Friday (4/11).

This year, DANA is partnering with several digital platforms, one of which is Blibli. Facebook and Bain and Company estimate that the gross merchandise value (GMV) transaction value of online platforms in Indonesia is US$ 26 billion, or around IDR 378.3 trillion this year.

Bank Indonesia (BI) also noted, the value of transactions in e-commerce was around IDR 29.4 trillion from a total of IDR 70 trillion per third quarter or during the corona pandemic. The percentage of electronic money usage reaches 42%.

Collaborates with Other Platforms

Apart from e-commerce, DANA collaborates with other digital platforms such as the gold investment application Pluang and launches the DANA eMAS feature. Then, collaborating with insurance technology startup (insurtech) PasarPolis.

The fintech also hooked up the Parkee parking service provider application to provide parking payment services. Then, collaborating with smartphone manufacturers (smartphones) from the United States (US), Apple regarding payments on the App Store, Apple Music, Apple TV app, iTunes Store purchases, and iCloud storage.

DANA also collaborates with Spotify and TikTok. This collaboration allows TikTok users to withdraw referral prizes directly to their DANA balance. In addition, the fintech startup is collaborating with State-Owned Enterprises (BUMN) PT Bhanda Ghara Reksa (Persero) or BGR Logistics.

This application made by this red plate company, Warung Pangan is also present on the DANA platform. Last August, DANA also officially became a partner in channeling incentive funds for the Pre-Work Card program. “This program is very important and should receive support,” said Vincent.

The second strategy, namely increasing technological capabilities. Finally, it focuses on maintaining the security of the user’s personal data. “So, our target is not only transactions but also the security of personal data next year,” he said. Even so, transactions continued to grow 15% this year.

Will Cooperate with More MSMEs in 2021

At the DANA Market Overview and Media Award 2020 virtual press conference yesterday, the wallet service platform, as well as digital payments, admitted that next year it wants to partner with more micro, small and medium enterprises or MSMEs.

DANA believes that by encouraging the adoption of a digital payment ecosystem at the UMKM level, this method is one of the most effective methods to encourage digitization in this economic sector while at the same time realizing a cashless society in Indonesia.

“So from our own point of view there will be more and more various services based on technology, as well as to help Indonesians transition to a cashless society,” said DANA CEO, Vincent Iswara.

Not only increasing the number of partnerships from SMEs and a number of well-known merchants but other aspects that are no less important, such as security and innovation, said Vincent, are still in their focus next year.

Vincent acknowledged that the pandemic period also contributed to the growth in the adoption of digital payments. DANA recorded an increase in transactions by more than 50 percent with the number of daily transactions reaching three million per day during the last six months.

Throughout 2020 DANA was actively conducting roadshows as well as digitizing MSMEs so that they were awarded at the Bank Indonesia Award 2020 as a Payment System Service Provider (PJSP) with the best QRIS implementation.