DOKU Introduces "Jokul", Its New Payment Gateway Business Brand

DOKU announces rebrand for the payment gateway business into "Jokul" to increase its popularity among business users. This also intends to change DOKU's position to public as a brand for the electronic wallet application.

DOKU's CIO Rudianto Thong explained that DOKU's payment gateway business is the company's first and foremost business, which contributes 70% of the total service. Apart from that, DOKU has two other pillars, Collaborative Commerce (DOKU Wallet) and Transfer Service (remittances and disbursements).

However, these two businesses has not contributed as big as payment gateways, it's 20% and 10%, respectively. Therefore, rebranding is a must-take step for the companies. Jokul as a word is a slang in the 90s which means "selling".

"Philosophically, in terms of payment, the payment gateway for sellers is a sales process, while it is a buying process for consumers. "The two are different, Jokul is our affirmation to take the pain point of the merchants and want to accommodate all business levels of each of our solutions," Rudy said in a virtual press conference with the media, Wednesday (7/4).

At the same time, DOKU also introduced some digital payment solutions under Jokul for all phases of business, corporations, startups, micro businesses, and individual sellers. Rudy believes, it is not only consumer convenience that deserves attention in online transactions, but also the entrepreneurs in controlling, managing and accepting consumer payments.

Therefore, Jokul provides a solution for each segment, including a dashboard to manage online payment business activities in a more transparent manner, easy and flexible integration without being charged a fee, and connecting with various payment methods.

DOKU alone has developed various payment solutions, such as virtual accounts (bank transfers), credit cards, e-money, O2O, direct debit, VA by DOKU, and WhatsApp Link, which can be integrated according to the business phase.

In fact, for enterprise customers, there's a Split Settlement solution to facilitate funds channeling from one transaction to be split and transferred to several accounts. This feature is suitable for marketplace business models that requires to immediately transfer funds to seller accounts on a regular basis.

“The subscription scheme in Jokul is that merchants only pay when they have received payments from consumers. They can also add features in Jokul for free, only pay for these features if they have received payments from consumers as well. "

Through Jokul, DOKU expects that this payment gateway solution can help more businesses to go digital. Moreover, in this pandemic, digitization is absolutely must-be-done step. Rudy said, since Jokul's soft launch on February 18, 2021, there were 5 thousand businesses registered as merchants organically.

These merchants come across Jakarta (40%), Surabaya (13%), Bandung (12%), Depok (10%), Medan (7%), and the rest are scattered in Makassar, Palembang, Tangerang, and others. The plan is that the Jokul feature development process will continue until it is officially launched in early June.

–Original article is in Indonesian, translated by Kristin Siagian