Mobile operators are getting more and more interested in the online loan business

ICT Institute Executive Director Heru Sutadi said the dominance of existing players in the fintech industry in the digital wallet and digital credit lines in Indonesia was very strong and difficult to replace.

Likewise with the pattern of business competition which is already too tight. "In fact, many [digital wallet and online credit companies] have also fallen in the competition," said Heru, predicting that the digital wallet-based fintech industry will likely only be dominated by 5 big players in the next few years. "Meanwhile, the digital credit-based fintech industry is considered to have a more flexible market share than digital wallets. Head of the National Telematics Infrastructure Division, Mastel Sigit Puspito Wigati Jarot, is of the opinion that, amid the prolonged Covid-19 pandemic, public interest in the use of digital wallets and online credit continues to increase. For digital wallets, according to Bank Indonesia data, the average growth during the pandemic reach above 20%. He said that cellular operators from the beginning have been very interested in the potential of money from the market to digital wallets. For example, PT XL Axiata Tbk. with XL Tunai service, PT Indosat Tbk. (Indosat Ooredoo Hutchison) with Dompetku, and PT Telekomunikasi Selular with T-cash. However, in their development, most of them did not become market masters. One of the cellular operators that has just enlivened the trend of developing fintech services is Indosat with its UCan service.

|•SOURCE•| Articles :BISNIS | Image :MAU CASH |

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