The Indonesia-based B2B marketplace, Ralali.com, is branching out to include its very own e-wallet. Called the Ralali Wallet, it is the company’s venture into the financial technology (FinTech) sector.
According to a recent report, the launch of this feature is the latest move of the company in line with its vision to provide a solution for the B2B market in Indonesia.
This feature will enable the users of the marketplace to pay for their orders using a fast and integrated approach.
Moreover, it will also serve as an account to accept cashback options as an appreciation from the company to its loyal customers.
The decision to offer this product came from customer requests for a digital wallet as an integrated payment method.
For the users of the marketplace, the presence of the digital wallet makes it easy for them to make repeat orders.
A restaurant-owner, who is a customer of Ralali.com, made a feedback on this expansion. Having a restaurant entails buying certain products in a certain number every month.
Repeated orders for the same item on the same platform are made monthly. With the Ralali Wallet, cashback for the next order can be saved and can bring more profit for them.
This cashback saving feature helps customers to maximise the use of its digital balance and is claimed to be more profitable.
This latest feature of the company enables customers to only pay using their balance on Ralali.com. Balance top-up is not yet available, but users can collect their balance from cashback vouchers and refunds.
Users are also allowed to use their balance to buy any kind of product, including digital goods. The feature is ready to work optimally on desktop and mobile apps.
Launched on 01 October 2018, the marketplace provided a free Ralali Wallet balance worth US$ 3.29 (IDR 50,000), for the first 500 new users.
The latest Series B investment led by three global investors, worth US$ 7 million, has encouraged the company to focus on expanding their vertical business segment, customer reach, and financials.
The company’s mission is to help local retailers to grow their businesses by allowing them to source thousands of branded products easily at any time.
It will partner with firms to provide more products and payment options.
At the same time, it emphasised the importance of improving the merchant experience while educating the Small and Medium Enterprises (SMEs) to source products online.
SMEs are able to have immediate access to thousands of wholesale products.
All of these have been fulfilled by suppliers that have been selected, curated, and verified to provide the competitive services and prices.