Duitku provides Social Payment Gateway to Indonesians

• Currently has more than 500 merchants from various business sectors
• Can be implemented via various platforms such as Magento, OpenCart

INDONESIA-based Duitku is a fintech startup that provides an online payment solution to send and receive funds.

The three Duitku founders, Rheza Budiono, Timur Pratama, and Dipa Wibisana, who began by developing software, have collaborated with game publishers to offer prepaid cards, e-wallets, and card payment facilities.

Duitku chief executive officer and co-founder Rheza says that many Micro, Medium and Small Enterprises (MSMEs) are still sending or receiving funds manually.

“If the number of transactions is low, this may not be a problem. But with the increasing number of transactions, the risk of human error will be greater, and the possibility of fraud rises.”

Established in 2016, Duitku says it’s the first and thus far, only company in Indonesia to implement the ‘Social Payment Gateway’ method in its service.

“This concept tries to provide the best transaction costs by combining the number of transactions from each merchant. As the number of transactions and merchants that receive payments through Duitku rises, users will receive the lowest transaction fees obtainable.”

He adds that this concept delivers benefits to business players, and can help their businesses grow.

“As an example, if businesses previously saw other companies only as competitors, with the implementation of a social payment gateway, they actually support each other in an ecosystem, so that sales can be better.”

Duitku targets individuals, MSMEs, startups, and corporations. Anyone can use the service.

“For the requirements, we provide a form that to be filled by prospective merchants. We will then verify the data.”

Rheza says that the company currently has more than 500 merchants from various business sectors, such as e-commerce, game developers, P2P lending platforms, and subscription portals. It also generates revenue from transaction fees.

“We try to reach them in various ways, such as through marketing activities. They also receive information on Duitku based on recommendations from existing merchants.”

Duitku can be implemented via various platforms such as Magento, PrestaShop, OpenCart, WHCMS, WooCommerce, and VirtueCart.

Creating fair and balanced opportunities

Rheza aims to encourage Indonesia's economic growth, “We describe the ecosystem as a pond, where the players are fish. If we only focus on ourselves, regardless of the condition and cleanliness of the pool, then no one will survive. By keeping the pool clean and well maintained (ecosystem), everything in it will also be healthier.”

He says that they try to ensure that every business player get a fair and balanced opportunity.

“In general, many companies apply an equality mindset. This makes large companies more profitable, but small companies will find it difficult to compete. We think in terms of equity (justice), where we try to provide solutions in accordance with the conditions and needs of each business actor. Thus, we hope that every businessman can get a fair chance to grow.”

He says that he faces three main challenges in terms of the lack of education, access to payment gateways, and in convincing clients or users.

“We provide solutions by providing education about the benefits of online transactions, helping to carry out the integration process, enabling the use of the service without any unnecessary costs, and providing the best transaction fees through our social payment gateway.”

Duitku has gained international recognition in the application of security systems, in the form of PCI DSS certificates, which is one of the international assessment standards to guarantee transactions through the safe storage and dissemination of card data.

Rheza targets to increase the number of merchants, by continuing to introduce, educate, and provide solutions to business players not only in Indonesia, but in the region.

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