Cashlez Records 407.73% Increase During the Pandemic – COTEKNO.COM

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Jakarta, COTEKNO.COM – In 2020 the pandemic has pushed the world to accelerate the transformation of the digital economy, not least in Indonesia, so that people have begun to adopt the “new normal” protocol, especially in conducting business activities.

This causes a change in people’s behavior patterns in making payment transactions towards cashless payments. The acceleration of the digital economy has opened up opportunities for innovative payment solutions to adapt to new behaviors.

Suwandi, President Director of Cashlez, said Cashlez also adapts and focuses on developing solutions according to the needs of business actors in the digital era. This is also the main factor that drives Cashlez’s business. Thus, throughout 2020, Cashlez managed to achieve rapid growth by recording an increase in net income to Rp84.32 billion compared to 2019, which recorded revenues of Rp16.61 billion, an increase of 407.73%.

This increase has resulted in a growth in the Company’s profit share from a net loss of Rp10.85 billion in 2019 to a net loss of Rp7.13 billion in 2020.

“Even though he was affected by the pandemic, Cashlez managed to achieve positive achievements. In 2020, we became a public company and acquired PT Softorb Technology Indonesia (STI). We also process QRIS payments, expand payment options and partner with financial institutions to provide access to funding. We believe that consistent efforts will bring Cashlez to a new chapter in the payments industry in Indonesia.” said Suwandi.

Also Read: IPO Cashlez Officially Registered at OJK

Suwandi added that until the end of December 2020, the total merchants who joined Cashlez reached more than 9,000 merchants including several well-known brands such as KalCare, Brawijaya Hospital, BFI Finance, Shafira, Zoya, and Fish & Cheap.

“Seeing the rapid development of digitalization in Indonesia, we see enormous potential for the payment solutions industry and will continue to provide support to business actors to develop their business in the current digital era. We are optimistic that in 2021, Cashlez can show even better performance compared to 2020 with a target of 5,000 new merchants and an increase in gross transactions of 10 trillion.” the lid.

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