In line with the spirit of Independence "recover faster and rise stronger", LinkAja has recorded a positive increase in the use of QRIS to support the acceleration of economic digitalization. The national implementation of the Quick Response Code Indonesian Standard (QRIS) payment method, which has been effective since 2019, is an important factor in realizing financial inclusion in Indonesia. In line with this, merchants, including MSMEs registered with LinkAja have recorded a significant increase in the use of QRIS as one of their payment methods, which is also followed by increased adoption of QRIS for LinkAja and LinkAja Syariah users. This increase proves that QRIS is becoming one of the payment methods of choice for Indonesians.
The increase in QRIS usage in the LinkAja and LinkAja Syariah applications is assessed through three benchmarks, namely the number of active users, as well as the number and amount of transactions. Based on the value of QRIS transactions through LinkAja, the retail segment has recorded a significant percentage increase of up to 600% from the same period in 2021. This increase was followed by an increase in the number of retail merchant users which increased by 280%. LinkAja Syariah as one of the largest Sharia-based digital financial service providers in Indonesia, has also contributed positively to the increase in QRIS transactions. LinkAja Syariah has become one of the preferred services for ZISWAF (Zakat, Infaq/Sedekah and Waqf) transactions at zakat institutions and mosques (non-profit merchants segment) by recording an increase in the number of transactions by more than 50% and the amount of transaction value that has more than doubled compared to the same period last year.
In addition, LinkAja Syariah also collaborates with Bank BTN Syariah in facilitating the provision of QRIS for cashless payments at their fostered merchants which to date have amounted to more than 1,800 merchants. This growth is certainly inseparable from LinkAja's diligence in socializing the expansion of the use of QRIS to offline merchants since the beginning of joining as PJSP. This step is one of the implementations of LinkAja's support to contribute to achieving Bank Indonesia's target of 45 million MSMEs QRIS users by 2023.
Yogi Rizkian Bahar, President Director of PT Fintek Karya Nusantara (LinkAja) stated "LinkAja consistently supports government initiatives and programs in encouraging Indonesia's financial inclusion, one of which is by promoting the use of QRIS as one of the preferred transaction methods. The very significant growth in QRIS adoption for LinkAja and LinkAja Syariah users shows healthy growth. We look forward to continuing to positively contribute to the growth in adoption of digital financial services, while also strengthening our business focus on building comprehensive digital financial solutions that bring together a diverse range of digital financial services. comprehensive digital financial solutions and bringing together the diverse potential within the ecosystem of state-owned companies in Indonesia"
The merchants that showed the best LinkAja app usage activity were Food & Beverage (F&B) merchants, with the second highest number of transactions after E-Commerce. In addition to positive growth in retail merchants, the use of LinkAja also experienced quite good growth in terms of the number of users, number of transactions and transaction value in entertainment merchants, financial services, telecommunications products, and transportation. Meanwhile, in addition to the non-profit segment, LinkAja Syariah has also experienced healthy growth and recorded a significant increase in transactions at transportation merchants (especially in rail transportation modes), retail and restaurants.
Education and socialization continue to be intensified by LinkAja to support the adaptation of merchants and users to the benefits of QRIS through all communication channels owned, such as social media, websites, and socialization carried out in collaboration with government institutions. LinkAja is also taking strategic steps to further increase the volume of QRIS transactions through collaboration with payment aggregators, as well as direct merchants and providing regular cashback promos for potential merchants.
Providing digital payment services since 2019, LinkAja has become a catalyst for democratization and financial inclusion for all Indonesians. As many as 76.8% of Indonesia's total population has adopted internet services by April 2022 based on We Are Social data. With the formation of digital literacy, digital-based financial literacy efforts continue to be boosted by LinkAja and LinkAja Syariah. To date, there are more than 83 million registered users on the LinkAja platform and a number of provinces outside the capital have shown positive growth that emphasizes the progress of the domestic economy.
Through a complete and integrated ecosystem of electronic financial transaction services, LinkAja's consistency and commitment in its efforts towards #SatukanPotentialIndonesia is increasingly being realized. By optimizing all the services offered by each SOE, LinkAja is optimistic that it can meet the needs of safe and convenient digital transactions, and further accelerate the process of equitable financial inclusion in Indonesia.