T-CASH's Achievement This Year And Its Transformation in 2018

T-CASH is practically known as inseparable part of Telkomsel. To guarantee all T-CASH services are available to public, T-CASH's CEO Danu Wicaksana explained T-CASH's achievement and future plans.

"Today we want to announce the latest information about T-CASH which in the past year has gained active users four times higher focus on two market segments, micro and lifestyle."

Previously, Wicaksana has mentioned about T-CASH to be an agnostic service. The plan is in 2018's first quarter, T-CASH will be available for public use.

"By this plan, we expect to be an independent mobile money service and ready to collaborate, not only with other telco operators but also corporate and government," Wicaksana said.

By being agnostic product, T-CASH target is to gain massive new users outside of Telkomsel users.

Focus on the growth of mobile app users

Since its launching, T-CASH now has 10 million registered users, 60 million annual transactions and claims the 90% users have a good experience using T-CASH.

Of the four user interfaces T-CASH (USSD, NFC Sticker, Mobile App and Web-Check Out) owned, most users still go with USSD in using T-CASH. Mobile app users are considered insignificant.

It is now become T-CASH's next focus to change usage perception in the form of sticker and USSD.

"We aware of all Indonesian users, not everyone has compatible smartphone to use T-CASH mobile app, it causes SMS-based USSD is still dominant. However, we eagerly need to encourage mobile app usage in the future," said Wicaksana.

For T-CASH top up, usually called CICO (Cash-In-Cash-Out), mostly used by users are ATM, modern retail (Indomaret and merchants), Telkomsel Grapari and T-CASH Bang.

"In addition, we begins to receive lots of funding initiated by government, corporate to remittance using T-CASH," added Wicaksana.

Provide lending to enterprises

With new concept developed over the past year, T-CASH has six framework strategies, among those are focus to airtime, offline merchant payment, online payment, online payment, remittance/P2P transfer, transport and financial services (insurance and lending). All those frameworks will be applied gradually by T-CASH as a solid framework.

"For the remittance, only T-CASH has a real-time process, money transferred to the registered banks and directly received by users," said Wicaksana.

In terms of transportation, T-CASH plans to have partnership with Blue Bird and Transjakarta as payment service provider. As for the Financial Services segment, which currently under development, it can be used by related parties to see user's credit scoring.

"We also have worked with BTPN, BNI and BTN in terms of funding allocation in various number to enterprises in Indonesia," Wicaksana said.

T-CASH's next target

Beside spinning off from Telkomsel and becoming independent, T-CASH's next plan is to strengthen the 10 million customer base to 100-120 million in 5 years. In 2019-2020, T-CASH plans to get into scale-up stage, followed by becoming major player until 2021.

T-CASH will compete with other server-based payment service, including those initiated by telco, banking or startups. Example for latter parts are Go-Pay and DANA.

"As a server-based service, T-CASH is expected to be the number one mobile money provider in Indonesia, as well as encourage financial inclusion and cashless society in Indonesia," Wicaksana ended.

– Original article is in Indonesian, translated by Kristin Siagian