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Credit: Ministry of Communications and Informatics

Credit: Ministry of Communications and Informatics

Indonesia's Paytren eMoney to increase financial inclusion by providing mobile financial access

An announcement made by the Ministry of Communications and Informatics (KOMINFO) highlighted the new technological way to increase financial inclusion for the Indonesian people. Paytren eMoney, launched during the Ramadan month, will allow any mobile phone owner to gain access to financial services.

The Financial Services Authority (OJK) data pertaining to the national financial inclusion index from year to year have shown significant increase. The year 2017 data shows that the Indonesian financial inclusion index has reached 63%. The target for the following year is to reach 75%. 

In response to the target set, the Minister of Communications and Informatics Rudiantara expressed that there will be new initiatives and ways to expand access for financial services to the community.

"A new way to bring this public service should be done through new technology. One of which is the Paytren eMoney model," he said this while giving a speech during the launch of PayTren eMoney at the Pondok Pesantren Daarul Quran CIpondoh, Tangerang, Banten, on 1 June 2018.

Minister Rudiantara explained that the Paytren eMoney is a new method that the government of Indonesia is implementing to improve the country’s financial inclusion.

As of current condition, approximately 90 million Indonesians have financial access according to him.

Minister Rudiantara acknowledges the significance of the mobile phone technology in being the actual means to expand.

“There are at least 230 million Indonesians having at least one mobile phone, thereby paving the path for us to improve the country’s financial inclusion," he explained.

Minister of Communications and Informatics affirmed that with the presence of Paytren eMoney and other similar services, they will be able to drive the acceleration of financial inclusion.

"This is considered a golden opportunity for us to use Paytren as a tool or means to increase financial access. As a tool for people to get the financial service," he said.

According to the Minister, the Government is targeting financial inclusion to reach 75% next year. "75% will not be a problem from the infrastructure side. Our cellular networks, whichever you choose, 4G and others are far above 75%," he explained.  

Minister Rudiantara extended his congratulations to the Head of Ponpes Daarul Quran KH Yusuf Mansur for the permission and the ability to utilise Paytren eMoney.

"Congratulations to Mr. Kyai Yusuf Mansur and friends, who are all in this room. Hopefully, the permission granted and launched during the Ramadan month brings barakah," he said.

Barakah is an Arabic term which means blessing. It is the attachment of Divine goodness to a thing, so if it occurs in something little, it increases it. And if it occurs in something much, it benefits.

The launch of Paytren eMoney, which is 100% of the work of the nation’s children for Indonesia Digital 4.0., was attended by the Minister of Development of Disadvantaged Regions and Transmigration Eko Sanjoto, Social Minister Idrus Marham, Minister of Youth and Sports Imam Nahrowi, People’s Consultative Assembly (MPR) Chairman Zulkifli Hasan, Indonesian Ulema Council (MUI) Chairman KH Maruf Amin, as well as other representatives of agencies and institutions in Indonesia.

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