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Fintech DANA Transactions Increases Up to 100%

Fintech DANA Transactions Increases Up to 100%

The financial technology startup (fintech) payments DANA recorded an increase in transactions more than doubled or 100% last year. The number of users and partners (merchants) has also increased due to the corona pandemic. DANA CEO Vincent Iswara said transactions increased because people relied on digital payment methods to anticipate the transmission of the coronavirus.

“Transactions have increased by more than 100%,” he said during a virtual press conference, Tuesday (9/2). DANA also recorded a 50 million increase in users last year. The number increased by about 20 million in 14 months.

Fintech DANA Transactions Increases Up to 100%

The company noted, there are four services that were most used during the last year. “To send money, pay bills, buy electricity pulses, and shop online,” said Vincent. In addition, DANA recorded 150 thousand new partners last year.

However, Vincent did not specify the current number of merchants. The increase in the number of users and transactions is in line with the increase in digital consumers in Indonesia. Research by Facebook and Bain and Company estimates that digital consumers in the archipelago reached 137 years ago.

The number increased from 119 million in 2019. The percentage also jumped from 58% to 68% of the total population. Vincent is optimistic that transactions will continue to increase this year. “That’s because more and more people are transforming to digital,” he said.

Collaborating with Anteraja to Expand

To encourage transactions, DANA is intensifying collaboration. Most recently, this fintech partnered with the logistics company AnterAja to develop DANA Delivery. In the e-commerce sector, DANA hooked up Blibli and Bukalapak.

Moreover, Bank Indonesia (BI) estimates that e-commerce transactions will increase by 33.2% from IDR 266.3 trillion last year to IDR 337 trillion in 2021. Meanwhile, bank digital services are predicted to increase from IDR 27,036 trillion to IDR 32,206 trillion this year.

Bank digital service transactions are also driven by the soaring use of electronic money. BI estimates, electronic money transactions will increase by 32.3% from IDR 201 trillion last year to IDR 266 trillion in 2021.

The company also collaborated with gold investment startup Pluang and launched the DANA eMAS feature. Then, took the insurance company (insurtech) PasarPolis. The fintech also hooked Parkee to provide parking payment services.

Fintech DANA Transactions Increases Up to 100%

Then, collaborated with smartphone manufacturers (smartphones) from the United States (US), Apple regarding payments on the App Store, Apple Music, Apple TV app, iTunes Store purchases, and iCloud storage. DANA also collaborates with Spotify and TikTok.

This collaboration allows users to withdraw referral prizes directly to their DANA balance. In August last year, DANA also officially became a partner in channeling incentive funds for the Kartu Prakerja program.

DANA Distributes Angpau up to IDR 500 Million

DANA digital wallet is aiming for transactions during the Chinese New Year 2021. DANA is holding a XiapCuan campaign to increase money transfer transactions during the Kerbau Logam New Year celebration. DANA Chief Marketing Officer, Monita Moerdani, stated that there are two objectives in this campaign.

Fintech DANA Transactions Increases Up to 100%

First, to strengthen a digital transaction culture that is safe, easy, and trusted. Second, it also maintains the culture of sending angpau amid social restrictions due to the pandemic. He stated that users will get tokens for every transaction related to Chinese New Year. To get tokens, the user must send money to different users with a maximum of 5 tokens per user.

“Users can only receive Angpao DANA from tokens from the Chinese New Year program. Users can also use Angpao DANA to get the prizes that have been provided, such as gold bars to cashback,” said Monita in a press conference on Tuesday (9/2).

This program runs from February 9 to February 19, 2021. The total prizes provided reach IDR 500 million consisting of gold bars from 0.5 grams to 5 grams and cashback up to IDR 350 million.