Monday, 16 September 2019 | 11:11 WIB

GO-PAY Can Now be Used for Mutual Fund Investments

Ilustrasi Go Pay

JAKARTA, NETRALNEWS.COM -- Digital payment tool GO-PAY continues to expand its benefits. Not just daily necessities, the mobile payment that is most often used by Indonesian people can now be used to invest in mutual funds.

The addition of transaction services is in line with the establishment of cooperation between GO-PAY and the Bibit.id platform as part of the development of online mutual fund investments starting early May 2019.

GO-PAY Managing Director Budi Gandasoebrata said that since the beginning of the establishment, GO-PAY had a mission to become a bridge for the people of Indonesia to be able to access financial services. This will continue to be carried out through collaboration with various institutions, including 28 financial institutions that have collaborated with GO-PAY.

"We also strongly welcome the collaboration that has been established with Bibit.id because it is hoped that the innovations that we present through this collaboration can further facilitate the Indonesian people to invest, Budi said.

The presence of GO-PAY, which is part of GO-JEK's services and ecosystem in the field of investment is increasingly confirmed as the most popular mobile payment in Indonesian society.

The study results of the YouGov research institute regarding payment methods in Indonesia released in January 2019 noted that the use of GO-PAY reached 80 percent. Placing it as a mobile payment is most often used by Indonesian people, far above its competitors.

The competitors include OVO which in the research recorded 60 percent, PayPal 54 percent, T-Cash (LinkAja) 46 percent, and DOKU Wallet 14 percent. The research involved 1,500 respondents.

An independent research institute from Singapore, FT Confidential Research also announced similar results. GO-PAY is the most popular online payment application in Indonesia because it is used by nearly three quarters of mobile payment users until the end of 2018.

The percentage reaches more than 75 percent. Conversely the closest competitor in second place is used by 42 percent. This is because GO-PAY can be used for various transactions.