BluePay Acquires E-Money License from Bank Indonesia (UPDATED)
Operational license is active starting from August 8, 2018
Randi Eka - 5 September 2018
Bank Indonesia (BI) released another e-money license for fintech company. It’s for PT Blupay Digital International (BluePay). Its operational license is active starting from August 8, 2018, along with PT Ezeelink Indonesia (Ezeelink), which was reportedly has acquired the license.
PT BluePay Digital International was established in Jakarta as local financial technology company. The operational, server and development center of PT BluePay Digital International itself is in Jakarta.
The application is called BluePay Wallet which can be downloaded on the Google Play Store for Android users and from the App Store for iOS users. The balance from BluePay Wallet is called BluePay Cash, users can perform activities such as electricity/water bill payments, top up cellular/data packages, game vouchers, and purchase food and beverages in the vending machine using the scan by QR method.
One of BluePay’s main use cases is BlueMart smart vending machine. The company makes use of its extensive vending machine network in the country, providing offline user with the most convenient, smart and new retail experience through mobile payment to users.
BluePay Wallet uses the BlueShield security system to protect daily transactions from BluePay users. With real time detection capability, BlueShield helps analyze and prevent potential risks that may occur.
The company's vision itself is to become a mobile apps payment company with the best experience to all customers and partners in Indonesia. The company's focus is to serve the segment transaction needs that are still underserved by underbanked banking services, such as the MSME segment and young adult segment which aims to help achieve the financial inclusion target. The local site BluePay.id has also been launched as part of the expansion.
– Original article is in Indonesian, translated by Kristin Siagian