Fintech Investment in Indonesia Reaches $10 billion

Jakarta, MINA – Fintech industry in Indonesia continues to grow and helps economic growth. Based on reports from the Fintech Indonesia or Aftech Association, fintech investment in Indonesia has so far reached US $10 billion, equivalent to IDR 142 trillion.

Aftech General Chairman, Niki Santo Luhur, explained that with this amount, fintech industry in Indonesia is relatively fast in Southeast Asia region. The fintech industry is dominated by online payment and loan systems.

“This industry has increased the use of fintech solutions in community, contributing positively to financial inclusion,” explained Niki in Jakarta on Saturday as quoted from Sindonews.

He said during February-December 2018, transaction value of the industry reached IDR 147 trillion. Fintech payment transaction volume grew 48 percent or reached 2.9 million times compared to previous year.

“Financing channeled by fintech loans has also jumped 567 percent during February-December 2018,” he explained.

Along with the rapid growth of fintech industry, government provides support in the form of legislation involving industry, so that licensing is faster, more transparent, which is to support financial literacy programs. (T/Sj/P2)

Mi’raj News Agency (MINA)