Indonesia: Cashlez partners three local banks; Indosat launches Obrol app

Photo By Cashlez

Mobile point-of-sale (mPOS) developer Cashlez said it will sign agreements with three local banks, including Bank Mandiri while Indonesian telecommunication operator Indosat has introduced its own chatting app platform called Obrol.

Cashlez

Cashlez president director Teddy Lee revealed that the company is still in the process of acquiring permit from Bank Indonesia. Once the permit is cleared, the company can move on to sign agreements with two more banks in addition to partnership with Mandiri.

“The signings are expected to take place in July,” he told DEALSTREETASIA in Jakarta.

Cashlez is one the first companies in Indonesia to locally develop a host of payment solutions which include a fully certified card-present payment gateway and merchant centric reporting tools. Its closest rival is Moka, another Jakarta-based mPOS startup which has just recently raised $1.9 million from a round led by East Ventures.

Also Read: Indonesia: Moka secures $1.9m series A funding from East Ventures

Pinjam Indonesia secures seed, series A funding from local investor

Exclusive: Indonesia P2P lending startup Investree to raise Series A from Kejora

Cashlez’s mission is to quickly but steadily evolve Indonesian merchants payment system with mPOS. The company also develops ecommerce payment services with Open API support for non-competing payment solutions powered by mobile, e-wallet and social media.

The startup went live last year. So far, Cashlez has only served pilot transactions.

Obrol app

The nation’s second-largest telecommunications operator, Indosat Ooredoo, owned by Qatar’s Ooredo Group, has launched a chatting app platform Obrol at the Indonesia Cellular Show (ICS) in Jakarta.

With Obrol, users can make calls to anywhere, even to those who do not have the app on their gadgets.

Head of Postpaid International Business and Content division of Indosat Ooderoo, Andre ReinAldy, said, calls with Obrol will be charged at a very low price.

“This is what makes it different from any other similar apps,” he sad.

Obrol can now be accessed on Android and iOS. Users will receive an Obrol ID upon registration.

Indosat has an annual budget of Rp 7 trillion ( US$511 million ) to Rp 8 trillion for capital expenditure, representing around 30 percent of its revenue. A large share of is allocated for expansion as it eyes a big leap in income from data in the next three years.

The capital expenditure will be mostly spent on further expanding the coverage of Indosat’s 4G network, which currently covers 27 cities, and also increasing the roll-out of its fiber optic service.

Indosat Ooredoo’s data revenue is expected to exceed 50 percent this year, from 46 per cent of 2015’s revenue of Rp 26.76 trillion.

The company booked Rp 217.2 billion net profit in the January-March period of this year, a significant reverse from Rp 455.6 billion losses in the same period last year as revenue grew 11.8 per cent to Rp 6.8 trillion.

A 52.5 per cent surge in data traffic to 60,814 terabytes in the first quarter year-on-year ( yoy ) explained the business growth, as well as a 54.7 per cent drop in costs to Rp 477.3 billion. The company also made Rp 330 billion in forex gains in the first three months of this year, compared with Rp 717.6 billion forex loss in the same period last year.

Also Read:

Indonesia: Smartfren in talks with Netflix; Indosat, XL mull partnership schemes

Indonesia: Indosat, IBM join hands for $200m IBM Cloud intiative

Indonesia: Indosat Ooredoo, XL Axiata launch MORAN; Wiko Mobile’s new products

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.