Lack of Capital Threatens LinkAja’s Future

Summary

The State-Owned Enterprises Ministry believes LinkAja, the state-owned financial technology (fintech) enterprise, has not ready to adopt the Quick Response Indonesian Standard (QRIS) developed by Bank Indonesia (BI) yet. The ministry revealed that LinkAja had spent so much money to build its QR Code.

The State-Owned Enterprises Ministry’s undersecretary for the financial, survey, and consultant services, Gatot Trihargo, stated that the ministry currently wanted to direct LinkAja as a payment platform in the state-managed sectors like in the public transportation. He also added that LinkAja was not designed to burn cash like other fintech firms and supposed to break even as soon as possible.  

 

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