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Indonesia's KoinWorks rolls out card for influencers and entrepreneurs

Source: KoinWorks

New economies need new economic models that support them.

That’s why KoinWorks, the leading fintech platform in Indonesia, today announced the launch of NEOCard, the first offering of its kind that gives more than 64M influencers and entrepreneurs in the region access to financial tools and banking services to help fuel the next generation of wealth in the region.

With a virtual card from Mastercard, which is connected to BNI accounts, the product breaks down the credit barrier to entry for millions of small to medium businesses in Indonesia, complemented by a complete, end-to-end mobile banking experience. To join the 1.5 million users currently using KoinWorks NEO, download the app here and create your account within minutes.

“Digital entrepreneurs represent our country’s greatest asset, yet traditional financial institutions don’t understand them or the growing needs of their businesses,” said KoinWorks’ co-founder Willy Arfin. “With NEOCard, they finally have a comprehensive platform to scale and grow their business, with access to all tools they need to run ads, purchase products, transact online, and so much more.”

Creating Economic Equity for a New Generation Entrepreneurs

Although home to one of the world’s largest and fastest-growing economies, as of 2021, only 6.1% of Indonesia’s population had access to a credit card, and two-thirds of SMEs in the region lack access to financial services like bank accounts. The absence of financial tools and literacy, as well as access to credit, presents a significant barrier for the country’s deserving entrepreneurs who need a better way to scale and grow their businesses.

Housed inside a simple, easy-to-use app, KoinWorks’ NEOCard allows for seamless personal and bank-to-bank transfers, discounts on top merchants, financial health statements, in-app expense reports, personal payment links, and all financial literacy tools business owners need to be successful.

NEO Card features the following services::

• Money Management: Automatically generate invoices for easier bookkeeping, and receive client payment from any method to one NEO Account, with support across top payment providers like BankBri, BCA, BNIDana, GoPay, Ovo, LinkAja!, Mandiri, MasterCard, ShopeePay, and others.
• Instant and Easy Access to Business Loans: Users have access to a range of loans for business-specific purposes, including installment loans, factoring loans, or earned wage access (EWA), where business owners can get an advance payment ahead of a pay cycle.
• Influencer Referral Fee and Cash Back Promotion: Provides a referral fee for influencer partners and cashback for every partner’s registered users up to IDR 500.000 per transaction.
• Debit and Credit Card: A debit and credit card powered by Mastercard to make transactions easier and the ability to make purchases and payment transfers from any local or international market for free.

Throughout the Covid-19 pandemic, demand for KoinWorks’ offerings exploded as more businesses were forced to find digital solutions to survive. Now coming off the heels of its $108M Series C, KoinWorks is uniquely positioned as the country’s only one-stop solution for SMEs. To get started, please visit KoinWorks.com and register your account today.

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