Tri Indonesia Discontinues E-Money Development

Decision was made three weeks after the issuance of Bank Indonesia's new regulation

Yenny Yusra - 5 July 2018

Following the submission of an application for e-money license to Bank Indonesia, Tri Indonesia decides to stop pursuing its development. The decision is corroborated by Dolly Susanto, Tri Indonesia’s Chief Commercial Officer, in the grand launching of “Keep On” internet plan in Jakarta.

“Previously, we’ve prepared to launch e-money service, but since the issuance of Bank Indonesia’s new regulation three weeks ago which requires 51% license owned by the local company, the plan should be discontinued.”

Tri is majority owned (65%) by Hutchison Whampoa and the rest belongs to PT Tiga Telekomunikasi as the local investor.

The e-money platform that was going to be developed by Tri is part of business expansion to enhance &Co marketplace and Bima+ platform. Using e-money based scheme, Tri expects to develop that payment option.

“Although the plan is discontinued, it’s still possible for Tri to collaborate with relevant partners and, of course, already owned a license,” he said.

Carrier billing

Tri also announces partnerships with a popular music and video streaming app in Indonesia. They are JOOX, Spotify, Viu, HOOQ, Mobile Legends, Deezer, and Google Play. As additional options for users, Tri also provides carrier billing.

“Indeed, we previously announce partnerships with Keep On (internet plan) of Tri. All those options are [still] all available for Tri users,” he added.

According to the data compilation, 70% of Tri’s internet consumption are for video streaming, and 30% are for music streaming.

“We also record the increase of mobile games using Tri’s network. Aside from using Bima+, users can also buy games directly from Google Play,” Susanto mentioned.

Tri claims currently has 33 million users, 80% of those are millennials.

Original article is in Indonesian, translated by Kristin Siagian

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