10 Most Developed Fintech Products in Indonesia


List of 10 m10 Most Developed Fintech Products in Indonesia

List of 10 most developed fintech in Indonesia, from the marketplace to e-cash service.


Mapping fintech in Indonesia is not enough without listing the most developed fintech products or companies.  IDC Financial Insights, which provides fintech data from around the world, has listed 10 most developed fintech products and services in Indonesia. Here are the top names you must keep your eyes on.


  1. Go-Pay

Go-Pay is an e-payment product from Go-Jek, one of Indonesia’s unicorn startups that provide ridesharing and delivery services. Go-Pay allows customers to conduct transactions within the app without using cash. All registered users can fill Go-Pay credits using several convenient methods, such as through internet/SMS banking or directly through the driver.



  1. DOKU

First initiated in 2007, DOKU is the first e-payment service provider in Indonesia. It provides payment options for national and international merchants. It also offers risk mitigation service for investors. Customers can also use it to pay bills and apply for loans.



  1. TCASH

TCASH is an e-payment product from PT Telkom, Indonesia’s state-owned telecommunication company. Unlike regular phone credits (pulsa), TCASH is used for various transactions such as internet and phone billing payments and online shopping. It can also be used to apply for prepaid and postpaid. In this case, TCASH is similar to Go-Pay.



  1. UangTeman

UangTeman is a lending service that specializes in microcredit. It helps unbanked users borrow money for maximum IDR6000,000 (around USD417), with a 30-day limit. UangTeman requires users to apply, and it will run background checking to determine the customer’s reliability.



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Finansialku.com is an online financial planning service aimed at individuals and families. It provides complete information about investments, saving, and wealth management. It also offers a consulting service, free e-books and articles, financial training opportunities, and public seminar schedules.



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CekAja.com is an online financial service that provides comparison data for various financial products in Indonesia. Customers can compare products such as credit cards, house and car credits, and insurance policies so that they can make wise purchase decisions. CekAja.com also provides a one-stop marketplace for various Indonesian financial products.



  1. Amartha

Amartha is a fintech company that provides peer-to-peer lending service. The company aims to empower small and medium enterprises by providing microcredit, although it also serves regular customers with bigger loan requests. Amartha uses credit scoring system to make sure that the customers are reliable.



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Bareksa.com is an online investment portal that mostly offers mutual funds. It provides information and simulation program to help customers planning for mutual fund investments. Bareksa.com also provides a database for various mutual fund options Indonesia, which have been checked before being offered to customers. It has special services to help customers saving for Hajj or Holy Land pilgrimage.




MODALKU is a P2P loan service that provides loans with lower interest rates than the market. This loan service specializes in unbanked small and medium business owners or those who don’t have enough credit reliability to borrow. MODALKU offers loans with three, six, to twelve-month return period.



  1. Midtrans

Midtrans provides payment gateway services that serve business owners, individuals, and small-time merchants. It also offers risk mitigation service through data analytics. Established in 2012, Midtrans quickly established itself as a transparent, low-cost payment gateway.

Fintech in Indonesia continues to grow its potentials as one of the most lucrative markets. These 10 products and services prove that the country is the next big player.

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