Katadata.id stated that Cashlez, which is a financial payment aggregator company in Indonesia, has doubled the number of merchants in 2019. At the beginning of last year, the number of Cashlez partners had reached 3,000, so that if it now doubled, then it would have there are more than 6,000 business operators. The number of merchants also proves that the number of Cashlez Merchants has exceeded the targeted number.

As Founder and CEO of Cashlez, Teddy Tee, said that there were many achievements in 2019 because Cashlez has implemented strategy planning and focus execution on all sides, both internal and external. Meanwhile, transactions carried out continued to increase until the volume grew to 200%. This also made the transaction value increase by 180%. Among the various payment methods provided, transactions using cards are the most popular type of transaction, meanwhile, payments with e-commerce and electronic wallets are also transactions that are also frequently used.

In the industry segment, Cashlez is most widely used by businesses in the field of fashion and accessories. In addition, other business segments that also use Cashlez’s products and services are electronics, retail, automotive, jewelry, and professional services. According to Teddy, Cashlez itself has strengthened the organizational structure, capital, products, and services that reach businesses online and offline. Not only that, Cashlez also applies the 3S principle, namely Speed, Support, and Service.

In 2019, investor from Japan, Sumitomo Corporation, provided Cashlez A series funding which was used to develop products, services and expand networks. During the year, Cashlez has succeeded in expanding its reach by opening branches in several major cities in Indonesia. Cashlez supporting areas are in Jakarta, Yogyakarta, Bandung, Bali, Surabaya, Makassar, Medan, and Malang.

Cashlez, which is an aggregator in the field of payment fintech, also provides a card reader machine that can be connected to the customer’s smartphone to facilitate the payment process.

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