FinTech app development: How Gojek and Weyland Tech are winning amidst the FinTech explosion in Indonesia?
The FinTech industry in Indonesia is experiencing a period of significant growth. The P2P lendings reported a triple-digit rise in 2018, while e-payment services have increased more than six-fold since 2012, provoking a wave of new foreign investment into a vibrant and increasingly diverse start-up community. Huge opportunities are visible in the Indonesian market for startup dealing in FinTech apps.
The company Gojek is one of Southeast Asia’s leading on-demand multi-service platform and digital payment technology group based in Jakarta. It is the first unicorn company and first decacorn company as well in Indonesia. It is worth more than $10 billion dollars and is operating Indonesia’s fourth-biggest e-wallet service called Go-Pay. The company has expanded across the region to markets in countries like Vietnam, Thailand, Singapore, and the Philippines.
Weyland Tech is another growing m-commerce and FinTech business provider accessible globally through its CreateApp. The company is Platform-as-a-Service (PaaS). It is spread across three continents and 10 countries. This also includes some of the speediest-growing developing markets in Southeast Asia. The company has reported selecting preliminary unaudited financial outcomes for the third quarter and nine months ended September 30, 2019.
The company has its subsidiary called Weyland Indonesia Perkasa (WIP). It operates platforms like AtozPay and AtozGo. The AtozPay mobile Payment platform is operating as m-Commerce and e-Payment markets in Indonesia. And the AtozGo ever-growing food delivery service in Jakarta, Indonesia.
The company is expecting a revenue of approximately $9.0 million for the third quarter of 2019. This would increase the revenue by 6.6% as compared to the third quarter of the last year. The company Weyland expects record revenue of about $24.6 million for the first nine months of 2019. This would describe an increase of 42.6% versus the same year-ago period. The company also anticipates setting balanced EBITDA positive in the third quarter.
The expected results are showing fast growth in the recurring income from CreateApp subscription fees as confirmed by Brent Suen, CEO of Weyland Tech. The growth is visible as the new customers as well as existing customers subscribing to additional features and modules.
The app is available in 14 languages with more than 70 integrated modules. Weyland empowers SMBs to build and use native mobile applications for Apple iOS and Google Android without technical knowledge or experience.
The technology grants SMBs to improve sales, be accessible to more customers, handle logistics, and advertise their products and services in an effortless, affordable and extremely effective way.
What is the future of FinTech in Indonesia?
There is a trend for big companies to invest such large sums into this expanding market. However, Indonesia seems to continue as a core for the Fintech industry moving ahead, for both large scale investors and startups looking to grow the revenue models and be the early joiners of this swiftly growing industry.
Looking at the current scenario of the FinTech market, it can be a good opportunity for startups looking for some revenue growing ventures. Joining the rising FinTech industry in Indonesia and across the globe can gain you really good outcomes in the years to come. But to make a difference, you need great technology to reach your audience and an awesome technology partner to back you up.
What do we provide to suit your FinTech app needs?
As people have happily accepted mobile wallets to be an inseparable part of their daily lives, we provide amazing white-label solutions for you to provide your customers with reliable services. Our white label solution consists of a QR-based payment alternative to make the transactions smooth and quick for your customers. As FinTech involves money, security is the main challenge. But with our white label solution, you can be 100% sure that the transactions will be absolutely secured.
Your customers can easily use our mobile wallet for payment during retail transactions as we have taken care of enabling the integration of the merchants into one platform to make their payment transactions smooth and effortless.
How does the security feature of our white label solution work for your mobile wallet?
Our customizable white label solution consists of a QR code that needs to be scanned every time when you add someone in the contacts or attempt to make a payment. This makes certain that the payments are secure and done to the right person. The risk of fraud is automatically eliminated with this method making the process of payment stress-free and comfortable for everyone.
How does our white label solution manages the payment transactions?
We know there will be hundreds and thousands of payment transactions carried out in a single day. And the process will be much complex as all the banks will be integrated into the solution. So, there is a middleware system or an admin module that is present in every on-demand app which monitors each transaction occurring among the users, merchants, and banks. This system provides another layer of security for your mobile wallets.
Why are our white label solutions safe and trustworthy for your startups?
Our third-party components like the integrated payment gateway can be directly used to make any transaction through any bank. It is the safest and most trusted payment gateway that we imbibe in our apps as we believe in gaining the trust of the customers.
If we talk about the QR code, it is a sturdy and robust third-party solution and a new QR code is generated for each transaction to provide double-layered security.
You can make your user’s life easy with our white label solution by enabling them for using offline payments as well.
Not just that, our solutions are completely functional and 100% customizable according to your business requirements. We deliver end-to-end solutions and our expert team of developers backs you at every phase of your business right from designing to the maintenance of your app. The cost of our white label solutions starts at $10000 as we want to make innovation affordable for startups.
Coruscate, a leading FinTech app development company, can help you with the business models, market research and analysis and development of the features for your app. If you are interested to build FinTech mobile-wallets for your business, you can connect with us and ask for a free demo.