Jakarta, CNBC Indonesia – A subsidiary of GoTo Financial (GTF), GoPay, and PT Bank Jago Tbk (ARTO) officially launched the GoPay Savings by Jago service, an account for daily transactions that can be accessed via the GoPay or Gojek application.
President of GoTo’s Financial Technology Business Unit (GTF), Hans Patuwo, said that this product can answer society’s challenges unbanked.
“GoPay Savings by Jago is the first daily transaction account in Indonesia that combines electronic money services (e-money) which is simple with bank advantages,” he said, in a press release, Wednesday (18/10).
Hans added that GoPay Savings by Jago is an evolutionary form of GoPay which continues to develop by providing a variety of innovative financial services.
“Previously GoPay was only used as a payment service, now GoPay can also be used for transfers, saving money for daily transactions, applying for loans, in one application,” said Hans.
Moreover, based on Bank Indonesia data, there are still 97 million adults in Indonesia who do not have a bank account or fall into the category unbanked. According to World Bank research (Global Findex Database 2021), a number of challenges faced by the community include banks being located quite far away, limited money and expensive administration costs.
On the same occasion, Arief Harris Tandjung, President Director of Bank Jago, revealed that GoPay Tabungan by Jago was launched as part of the continuation of the strategic collaboration between GoPay and Bank Jago, a technology-based bank embedded in the digital ecosystem.
“Starting from the same mission, we believe collaboration between banks and fintech is the key to generating innovation to accelerate financial inclusion through bank account ownership,” he said.
For the record, GTF through PT Dompet Karya Anak Bangsa (goPay manager) owns direct shares in Bank Jago of 21.40% based on Bank Jago’s financial report as of June 2023.
Furthermore, GoPay Savings by Jago provides various benefits, including simple services like e-money with bank advantages.
In detail, simple service refers to the various conveniences that users can experience. Through the GoPay or Gojek application, users can change their GoPay balance to GoPay Savings by Jago in 2 minutes. Users can top up and transact with GoPay Savings by Jago anywhere.
Users can top up at Alfamart, Indomaret, Gojek drivers, ATMs and channels other. Apart from that, it can be used at all merchants that accept GoPay as a payment method, including for payments on the Gojek, Tokopedia, QRIS applications, as well as merchants on line And offline other.
Regarding the bank’s advantages, through this product, users can save a balance that grows with interest of 2.5% per year, without limits on the maximum balance or transaction value.
Apart from that, GoPay Savings by Jago has a layered level of security, and is supervised by the Financial Services Authority (OJK) and guaranteed by the Deposit Insurance Corporation (LPS).
GoPay Savings by Jago does not charge a monthly administration fee, and there is no minimum balance that must be deposited in the user’s account. Users can also take advantage of free transfers to any bank via the GoPay application.
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Originally posted 2023-10-18 07:30:00.