JAKARTA, February 17, 2021 - PT Cashlez Worldwide Indonesia Tbk (Cashlez), a payment financial company with the ticker code CASH, continues to plan an expansionary business development in an economic situation that is still overshadowed by the pandemic. It is proven by the Company’s aim to cooperate with 5,000 new merchants this year to increase transactions.
As a fintech provider of payment transactions, Cashlez develops an mPOS (mobile point of sale) system to support merchant payment acceptance transactions using cards, either credit cards or debit cards, based on applications on smartphones (Android and IOS) connected to a card reader via bluetooth. Not only mPOS, merchants can also accept digital payment transactions such as QR Code payments and Cashlez Link payments (e-commerce payments).
President Director of Cashlez Suwandi revealed that his party is quite optimistic about the merchant acquisition target because cashless transactions are increasingly rampant in the midst of a pandemic to reduce the potential for the spread of Covid-19 from cash.
"The increasing public awareness about the implementation of health protocols requires merchants to support a reliable payment system. This is where we come up with an application that is able to accept cashless payments from various platforms at an affordable cost, "said Suwandi.
To get new merchants, he added, his party will explore new market segments such as tourism areas, energy, traditional markets, as well as business sectors that are still potential during the pandemic, such as the food and beverage sector (mamin), health services, and the telecommunications sector.
Currently, he added, Cashlez has collaborated with 9,000 merchants and has generated a frequency of financial transactions of more than 1.5 million times over the past year or an increase of 29% year on year. As a result, this performance succeeded in encouraging the Company to score revenue growth of over 30% on an annual basis. The increase in revenue was also supported by growth in gross transaction value, which increased by more than 50% compared to last year.
"For Cashlez’s performance last year, we are still in the audit process and we will submit it before the deadline for submitting annual performance in accordance with stock exchange regulations," he said.
Strengthen Business Structure
Meanwhile, Cashlez has also prepared a long-term plan to strengthen the company’s business structure in line with changes in the composition of the management at the Extraordinary General Meeting of Shareholders (EGMS) which will be held on Monday, December 21, 2020.
Based on the results of the EGMS, the Company appointed Suwandi as President Director and appointed Cendy Hadiputranto as Director. In addition, the Company also appointed Laurentius Firman Wiranata as President Commissioner and Independent Commissioner. Meanwhile, Hira Laksamana and Randy Pangalila continue to fill the positions of Commissioner and Independent Commissioner.
"We will continue to develop strategic innovations and improve efficiency to drive our business growth going forward. Creating positive growth and maximizing company value will remain our main commitment. Even though there have been changes to the composition of management, the Company’s vision and mission remain our foundation in developing our business in the long term, "said Suwandi.
Previously, Suwandi was the Director of PT Softorb Technology Indonesia (STI), a subsidiary of Cashlez with 51% share ownership. Suwandi has a successful career in information technology (IT) with 16 years of experience in the IT world, particularly 13 years in digital payments, as well as his operational and managerial skills in leading PT Softorb Technology Indonesia (STI) for the 2013-2019 period. Meanwhile, Cendy Hadiputranto was previously an Alternative Investment Division Head of PT Danareksa Investment Management as well as a Commissioner at PT Waskita Transjawa Toll Road.
"This change in composition is expected to strengthen the Company’s business structure and make Cashlez more productive and competitive in improving its performance in the future," said Suwandi.
In addition to adding merchants, Cashlez will also focus on increasing collaboration with partners who have not collaborated with the Company before, so that this new collaboration can provide the latest solutions for merchants.
"In terms of efficiency, we will also focus more on optimizing operational management in order to make a positive contribution to operating profits," concluded Suwandi.