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20231018_ARTO_Laporan Informasi dan Fakta Material_31459709_lamp2.pdf
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Press release
For immediate distribution
GoTo Financial and Bank Jago launch GoPay Tabungan by Jago, a
bank account and e-money service combined
Jakarta, 18 October 2023 - GoTo Financial, GoTo's financial technology business unit, and Bank
Jago, an Indonesia-listed technology-based bank, today launched GoPay Tabungan by Jago, a
bank account for daily transactions that can be accessed directly via the GoPay and Gojek
applications. A first of its kind in Indonesia, GoPay Tabungan by Jago combines the simplicity of
the GoPay e-money service with the benefits of banking, enabling Indonesians to access fintech
and banking services in a single application.
In Indonesia, over 97 million adults are still unbanked1, and many people also grapple with a lack
of proximity to banks, insufficient funds to open a bank account and high administrative costs2. To
address these challenges, GoPay Tabungan has been designed to be accessible and simple to
use, with users able to upgrade their accounts to GoPay Tabungan by Jago in just two minutes
via the GoPay or Gojek apps, without any minimum balance requirements.
Users can also top up their balance through various channels, and make payments at all
merchants that accept GoPay, including payments on the Gojek and Tokopedia applications,
QRIS payments, as well as offline and online merchants. Users will not be required to pay
administrative fees and can enjoy free transfers via the GoPay app.
In addition, the product enables users to enjoy the benefits of banking services. GoPay Tabungan
by Jago users can earn interest of 2.5% p.a. on their balance, with the product fully supervised by
Indonesia’s Financial Services Authority (OJK) and guaranteed by the Deposit Insurance
Corporation (LPS).
Hans Patuwo, President of Financial Technology, GoTo, said: “In line with our commitment to
increase access to financial services across Indonesia, we have developed GoPay Tabungan by
Jago specifically to address the challenges faced by the unbanked. The product combines the
simplicity of GoPay’s e-money service with the benefits of banking services, while ensuring that
users do not need to pay any administrative fees. This builds on our launch of the GoPay app
earlier this year, and it means that Indonesians can now transfer, borrow and save money with
just one application.”
1
Bank Indonesia
2
World Bank research (Global Findex Database 2021)
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“This is the start of more exciting things to come, and we will continue to work closely with Bank
Jago to explore new and innovative ways to increase financial access across Indonesia. Millions
of adults in the country are still unbanked, so there is a significant opportunity for us to leverage
our respective strengths to bring crucial financial services to more people.”
Arief Harris Tandjung, President Director of Bank Jago, said: “We are pleased to launch GoPay
Tabungan by Jago, which is the result of the ongoing strategic collaboration between GoTo
Financial and Bank Jago. Both companies share a common mission to accelerate financial
inclusion in Indonesia, and we believe that such collaborations between banks and fintechs will
continue to be key in strengthening product innovation, which will in turn help increase bank
account ownership in the country."
-END-
About GoTo Financial
GoTo Financial, a part of the GoTo Group, aims to help improve the individual balance sheet of all
Indonesians. To achieve this vision, GoTo Financial through GoPay provides access to secure, simple and
responsible financial services, enabling people to manage their finances better. In 2019, GoPay led Gojek
to become the only Indonesian company on the Fortune "Change The World" list. In 2022, GoPay won the
“Best Digital Wallet” award from The Asian Banker.
About Bank Jago
Specifically built as a tech-based bank embedded within Indonesia’s digital ecosystem, Bank Jago aspires
to enhance the growth of millions through life-centric digital financial solutions. Bank Jago develops
banking products and services, both conventional and sharia, that can be utilized by everyone, including
retail (consumer), mass market, or micro, small and medium enterprises (MSME).
As a tech-based bank, Bank Jago develops Jago App which is particularly designed to be embedded
within various digital ecosystems, and can be customized and personalized so it can be compatible with
their ecosystems, and also with the users’ personal needs. The collaborations with various ecosystems
enable users to live their life more conveniently.
For media enquiries, please contact:
Sharmaine Tan
sharmaine.tan@gotocompany.com
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