Tcash on an event in Bandung

Developed since 2015, Tcash, the mobile money product by Indonesian state-owned mobile operator Telkomsel, has gone through several changes in the year 2017. Next year, the platform aims to distance itself from Telkomsel to become a stand-alone (agnostic) platform that can be used by a wider audience and not being restricted to Telkomsel users.

Tcash CEO Danu Wicaksana told DailySocial that user adoption rate in 2017 has shown a positive result, considering that Tcash already secured more than 10 million registered users in 34 provinces in Indonesia.

“In 2017, Tcash has been focussed on building strong CICO (Cash-In Cash-Out) points ecosystem across Indonesia, in both small towns and big cities; adding more services and use case of Tcash; strengthening the network of retail merchants that accept Tcash; and increasing the performance of its tech platform, both on mobile app and back-end system,” he said.

In addition to that, Tcash has also been planning to increase awareness among Indonesian public of their product and how to use it, in order to secure more users.

When asked about plans for the year 2018, Wicaksana, who was formerly known as the Managing Director of fashion e-commerce startup Berrybenka, stressed the company’s commitment to continue on presenting various product and services innovation, in order to build a cashless society ecosystem.

Also Read: Berrybenka MD steps down to lead Telkomsel’s mobile payment arm Tcash

“Examples of tech innovation that we have been planning to develop in the future are e-KYC (electronic know-your-customer), dynamic QR code, facial recognition log-in, and many more. For services, we will offer greater variety of financial products to our customers, such as insurance, loan, and others,” he explained.

Spin-off plan

In order to grow its business more rapidly, Tcash plans to separate itself from Telkomsel and run business independently. When asked about the plan, Wicaksana confirmed that there is indeed a plan for a spin-off.

“Regarding the idea of a spin-off, for the time being we are still discussing it internally. We see some positive aspects in this plan. We will get back with information once there is a significant progress in this matter,” he said.

Declaring its goal to become an agnostic product, Tcash’s next strategy is to serve the public without the need to become a Telkomsel user first.

“We already have the plan in the upcoming months to turn Tcash into an agnostic e-money product that can be used by users of all mobile operators in Indonesia,” he ended.

The article Fokus T-CASH Jadi Produk Agnostik dan Rencana “Spin Off” dari Telkomsel was written by Yenny Yusra and first published in DailySocial. English translation and editing by e27.

Image Credit: Tcash