Great Digitization Potential, LinkAja Starts Seriously Working on the B2B Segment

In the midst of fierce competition in the electronic money business, LinkAja has begun to work seriously on the B2B segment to complement B2C services. 

This opportunity was initially taken because LinkAja has a mandate to assist the digital transformation process in the ecosystem of its shareholders, the majority of whom are state-owned companies, which have great potential.

LinkAja’s Business Solution service can digitize the complete financial ecosystem in the corporate business order to service users (end-consumers).

There are seven solutions currently offered, ranging from Cash Disbursement, Cash Collection, Payment Digitization (through QRIS, merchant applications, and others), Ecosystem Digitization, and Advertising Services.

As of this year, the growth of B2B users has increased by more than 70% on a YOY basis. Around 200 partners from large corporations in Indonesia have adopted Business Solution solutions, such as Pertamina, Bank Mandiri, Bank BRI, Telkomsel, Sampoerna Retail Community (SRC), Blue Bird, and others.

Blue Bird Driver Has Been Digitized Because of LinkAja

With the presence of LinkAja in the Blue Bird ecosystem, now the drivers have been digitized and become regular users of electronic money. They use LinkAja for daily transactions, starting from buying credit, fuel, e-tolls, and others.

As a result, the disbursement volume increased by more than 800%, disbursement transactions increased by more than 700%, and active driver users grew more than three times in the Blue Bird ecosystem.

Another example of digital adoption by retail chain grocery store partners at SRC. Since February 2021 utilizing LinkAja’s B2B solution, they have significantly improved in terms of digitizing the SRC financial ecosystem, with cashless volume growing by more than 60% per month and cashless transactions growing above 70% per month.

SRC utilizes a Cash Collection solution to reduce the complexity of collecting cash payments and minimize the risk of cash handling in the field team, making it suitable for implementation for companies that have supply chain systems.

Together with iGrow, LinkAja also provides access to productive capital for B2B partners in need. Next year, Widjayanto said that his party will be more aggressive in expanding B2B users, in line with the company’s mission to help accelerate the acceleration of digital finance in Indonesia.

It is claimed, the company has succeeded in digitizing more than 400 thousand MSMEs in the ecosystem of shareholders and strategic partners. “We are targeting a 10-fold increase from grocery stores and from merchants we can add one million from the B2B ecosystem,” concluded Widjayanto.

LinkAja’s Overall Performance

Not only explaining about its B2B, LinkAja also boasted about its achievements this year. Widjayanto said that until November 2021, the use of LinkAja’s QRIS has reached more than 1.3 million merchants, with a total of 2.3 million registered merchants.

Furthermore, there are more than 80 million registered users, around 5.9 million of whom are LinkAja Syariah. Later, the platform grew 13 times, and had 1.3 million cash-in and cash-out points.

The increase in the number of LinkAja Syariah users occurs because the company is targeting the sharia community, collaborating with connected partners, such as Muslimat NU, Bank Syariah Indonesia, and others. As a result, as many as 5.9 million registered sharia users.

“We are physically present in 476 cities because we believe MSMEs must be accompanied, so there are steps to cooperate with hyperlocal entities. With this, we are committed to advancing the local economy,” added LinkAja Marketing Director Wibawa Prasetyawan.

Although there is no further mention regarding the use of transactions on LinkAja, it is revealed from LinkAja’s internal data, that there are different transaction trends in each layer of the city.

In first-tier cities, for example, the majority of users know LinkAja from social media and online media; come from the age group of 20-24 years; and mostly use LinkAja for transactions at gas stations and bank transfers.

Meanwhile, in tier two cities, the majority of users know LinkAja from offline merchants and supermarkets; user segment among 35-40 years old; and most often use LinkAja for essential needs, such as traditional markets, PAM payments, and credit.