Banking on Fintech: Financial Inclusion of Micro Enterprises in Indonesia

Pulse Lab Jakarta

Project Description

Micro merchants — the small shop owners, street food vendors, and many others like them — make up the backbone of Indonesia’s economy, yet many of them are often excluded from financial services.

With the support of the Department of Foreign Affairs and Trade (DFAT) Australia and in collaboration with the Indonesia Fintech Association (AFTECH), Pulse Lab Jakarta launched a research project to promote resilience and growth within Indonesia’s unbanked micro business sector.

Pulse Lab Jakarta worked with three fintech companies: BTPN Wow! (mobile savings account), Go-Pay (mobile payment), and Amartha (group peer to peer lending). As part of the research, more than 100 respondents were interviewed from cities including Jakarta, Bekasi, Sukabumi, Ciseeng, and Banyumas.

The research revealed some of the mental barriers that hamper micro merchants from accessing financial services, as well as the enabling factors that have encouraged some micro merchants to use fintech.

Paper: Banking on Fintech: Financial inclusion for microenterprises in Indonesia

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