Walletku Indonesia is Officially Acquired by TNG FinTech Group Hong Kong

JAKARTA, Indonesia, Oct. 24, 2018 /PRNewswire/ -- Walletku Indonesia is officially acquired by TNG Financial Technology Group to strengthen their positions in the Southeast Asia market. Farid MN as co-founder and CEO of Walletku said, "We are so glad that we joined TNG. This is a good opportunity for us to enhance Walletku's services and representation in Indonesia. With TNG's technical excellence and wide network, we are certain that we will become one of the leading e-wallet applications in Indonesia."

Walletku offers solution to users in Indonesia to deposit their money into the application for paying bills, loan transaction, and buy phone credit. Walletku's role as a network agent efficiently facilitating financial cycle in Indonesia and helps to bridge with financial system abroad.

Tri Putra Permadi as founder and COO of Walletku said, "Walletku has various features on its application that can be a help for its users to do their daily transactions and become a solution to start a business with a minimum capital, including prepaid phone credit sales & smartphone's data package, starter pack sales or SIM card, monthly bills payment (electricity, phone, water, BPJS insurance, TV cable and leasing), travel ticket sales (train, bus and plane), as well as games & entertainment ticket sales -- one of them is SportsHero which is the first game application of strategy football team in Indonesia."

"In the future, we will launch a few services which are Walletku Mart (the most complete groceries shop that provides various needs from foods & drinks, fresh foods, to home appliances), insurance premium sales, books and school uniform sales, and electronic money services or what we called 'wCash'."

Currently, Walletku has over 22,000 networks that spread across Indonesia with a target focus on small and medium enterprise (SME). This is because Walletku wants to empower small and medium enterprises and make them independent entrepreneurs who can increase their income through the Walletku application.

Since it was officially established in 2017, Walletku has recorded more than 3 million users that has been making transactions through Walletku's merchants, and TNG has recorded a combined yearly growth for 27%.

TNG's founder and chief Jiang Qingen said that 64% Indonesian people do not have a bank account, and they are the group of users targeted by Walletku. Walletku and TNG has a similar concept and strategy, and are committed to providing a comfortable and fast services to a non-bank population. With inserting it into TNG's map, it is expected to strengthen TNG's leading position in Asia and Walletku's position in Indonesia.

After finishing the acquisition, Walletku will be grouped into "Global Electronic Wallet Alliance" which was initiated by TNG in 2016. Alliance members include China, Indonesia, Philippines, Singapore, Malaysia, Thailand, Vietnam, Sri Lanka and Bangladesh. E-wallet users who have been listed as members are able to do real-time transfers, send instant messages and do P2P calls to each other, allowing for social and financial transactions to combine.

About Walletku

Walletku is a E-wallet application useful for easing Indonesians in doing daily transactions, especially those without bank accounts yet. Its functions include bank transactions and giving benefits to its users. Walletku provides a platform to fulfill the needs of non-cash transactions for Indonesians.

Established in November 2017 by Tri Putra Permadi (Founder & COO) and Farid MN (co-Founder & CEO), Walletku has visioned to become a digital financial identity and an official digital payment tool for all Indonesian people. At the moment, Walletku has featured prepaid phone credit sales & smartphone's data package, starter pack sales or SIM card, monthly bills payment (electricity, phone, water, BPJS insurance, TV cable and leasing), travel ticket sales (train, bus and plane), as well as games & entertainment ticket.

About TNG Financial Technology Group

Headquartered in Hong Kong, TNG Financial Technology Group is an industry pioneer that provides Next Generation financial services through various e-wallet platforms to 1.2 billion people in Asia who do not have bank accounts yet. Financial services that are being provided include electronic payment, global money transfer, withdrawal and money settlement globally, wealth management, etc. TNG Financial Technology Group initiated "Global E-Wallet Alliance" that currently covers Hong Kong and 12 other markets in Asia, including mainland China, Philippines, Indonesia, Singapore, Malaysia, Thailand, Vietnam, India, Sri Lanka, Bangladesh, Nepal and Palistan. TNG provides cash deposit and withdrawal service to its users through 852 bank networks and over than 183,000 cash withdrawal spots globally.

Media Contact:

Alfernia Oktavia
Marketing Communication Manager
PT Walletku Indompet Indonesia
+(62) 21-8590-3636 / +(62) 856-990-5845
alfernia@walletku.com