GoPay and Bank Jago Collaboration Enables Indonesians to Open A Bank Account Via the Gojek App
November 26, 2021 at 09:50 am IST
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GoPay and Bank Jago announced a new service integration that will enable the Indonesian public to open a Jago bank account directly from the Gojek application. This integration between an on-demand platform and a digital bank is the first of its kind in Indonesia, and will provide convenient access to digital banking for the millions of unbanked and underbanked consumers in the country. The service is available to all consumers in Indonesia with a verified GoPay account and the Gojek application, with no fees or minimum balance required to open a Jago bank account. Once their accounts are opened, GoPay Jago users will not have to pay any top-up fees when moving funds between GoPay and Jago, giving them greater benefits and convenience in managing their finances. With only 61.7% of Indonesians having a bank account, GoPay and Jago's latest integration represents a significant opportunity for both companies to bring digital banking to more people and grow financial inclusion. This is supported by a recent study by the Demographic Institute of the University of Indonesia (LDUI), which showed that 1 in 5 GoPay users currently do not have or use a bank account actively. At the same time, consumers are increasingly ready to use financial services, with 1 in 4 GoPay users interested in opening a bank account through GoPay, based on the same study. The integration complements a feature launched earlier this year, which allows Jago users to connect their Jago pockets to the Gojek app and make cashless payments for Gojek services such as transport, food, bill payments and more. Together, this means that GoPay Jago users can now enjoy a fully seamless experience in payments and financial management.
PT Bank Jago Tbk is an Indonesia-based company primarily engaged in the banking business. The Bank offers various banking products and services that are categorized into funding and lending activities, along with other supporting banking services. It offers Jago, a digital banking financial application that allows customers to manage their financial transactions. The Bank offers funding products, including current account, savings, time deposit, Wadiah current account with wadiah contract yad dhamanah, Wadiah savings with wadiah yad dhamanah contract and Mudharabah deposits with mudharabah muthlaqah contracts. Its lending products include working capital credit, investment credit, consumer credit, multipurpose credit, bank guarantee and others. Its other banking services include Payment of monthly bills, Remittance/RTGS/SKN, Inter-cities warkat invoices, In-city warkat invoices - clearing, ATM Bersama and Alto Network, Customer Fund Account (RDN) and Debit Card.