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Indonesian state-owned mobile payment platform LinkAja will go online next week, with TCash integrated

Written by Khamila Mulia Published on   2 mins read

Cashless payments are continually on the rise in Indonesia.

LinkAja, a centralised QR code payment platform that unites four of Indonesia’s state-owned banks with the country’s national carrier Telkom Indonesia and state-owned energy corporation Pertamina, will go live on March 1st. The launch date was originally set as February 21st, but was postponed due to a licensing issue with the central bank.

Despite this delay, Telkom Indonesia’s mobile payment system TCash announced today that it has fully merged into LinkAja. In most cases, the TCash app will be converted to LinkAja automatically, though customers who still use USSD protocols on their phones will need to update their app through Google Play or Apple’s App Store.

LinkAja’s payment system is managed by PT Fintek Karya Nusantara (Finarya), which integrates existing e-payment services provided by the state-owned banks—Bank Mandiri’s e-cash, BRI’s T-bank and My QR, BNI’s Yap! and UnikQu—as well as TCash and MyPertamina. LinkAja facilitates e-money payments, digital financial services, and fund transfers.

“Customers don’t need to worry because all of the original TCash services and features can still be accessed and enjoyed on LinkAja. We’ll also develop various new features for LinkAja from time to time,” said Danu Wicaksana, Finarya director and former TCash CEO.

According to Danu, TCash’s integration into LinkAja shows its support for Indonesia’s financial inclusion programme. “The presence of comprehensive financial services from LinkAja is expected to accelerate financial inclusion and advance the diffusion of a cashless society, which has been promoted by the government through the Non-Cash National Movement,” he said. “In addition, LinkAja aims to complement the digital payment ecosystem in Indonesia.”

Previously, the minister of state-owned enterprises Rini Soemarno had stated that through her ministry, the government had established LinkAja so that state banks can provide better services for the public. The structure of LinkAja will be the blueprint for the payment systems developed by the banks that are stakeholders.

LinkAja also aims to satisfy market demand for QR code payments, which are currently on the rise in Indonesia. It is seen as a competitor of Ovo and Go-Pay, both of which are privately owned platforms. LinkAja is reportedly collaborating with Alibaba’s Alipay and Tencent’s WeChat Pay to bring the Chinese mobile wallets to Indonesia. However, LinkAja has not revealed further details regarding these partnerships.

Editor: Brady Ng


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