TLKM - Subsidiary rolls out payment gateway service

A financial technology arm of Telekomunikasi Indonesia (TLKM), Finnet Indonesia has rolled out payment gateway, Finpay. The service is aimed at facilitating online payment through a unique URL, enabling the users to carry out transaction without dedicated payment gateway integration and sales terminal point. (Source : Investor Daily) Comment : Financial technology is one of the fastest growing service compared to other e-service despite the endemic phase. This is also fuelled by growing e-commerce and demand for more secure transaction. However, payment gateway is considered as niche service compared to other financial technology segment that mostly dominated by few players such as Xendit, TO's Midtrans and Doku. Although we expect contribution of fintech remains insignificant, it is important for TLKM as a leading communication company to explore new opportunities and develop its value added service.