Media-Company-Starts-Developing-Fintech-Business-Line

Media Company Starts Developing Fintech Business Line

As one of the largest media companies in Indonesia, PT Tempo Inti Media Tbk recently has collected a comprehensive profit of Rp 3,063 billion in 2017. As an anticipation of the condition of media business (especially printed media) that have not been ascertained due to the booming of online media, the company needs to make innovative breakthroughs. To encourage higher profit growth, Tempo Media plans to launch a financial technology (fintech) business in the form of electronic payment instrument called Tempo Pay or T-Pay.

President Director of PT Tempo Inti Media Tbk Toriq Hadad said that until now the fintech business market is still promising. "The market of payment instrument is still huge that the profit could get from the commission of every transaction," he said.

T-Pay is planned to be focused on the payment of online ticket reservations, hotels, and travel accommodations or online travel. To make T-pay an an excellent innovative payment service, Tempo Media will collaborate with some companies that have global experience with this business. One of them is China’s online financial services company, JD Finance. Even, the cooperation with JD Finance will make the customers allow to do payment in JD.ID e-commerce site through T-Pay. "But this is not just for JD.ID payment, we will cooperate with some payment services related to online travel," Toriq said.

Strategic Plan Through Fintech
Firthermore, Toriq said that it also has a larger and strategic plan behind the idea of cooperation between T-Pay and JD Finance, which is attracting Chinese tourists to Indonesia. Until now, from 165 million of China tourists, only two million have visited Indonesia.

One thing to have to be done by Tempo Media and T-Pay’s partners to attract tourists from China is to manage the travel site that contains a video profile about some interesting tourist attractions in Indonesia. "When tourists are interested, T-Pay becomes an instrument of payment to order tickets and the other stuffs," said Toriq.

According to Toriq, Until now Tempo Inti Media is still on licensing process at Bank Indonesia related to the launch of T-Pay and the process has already been going on for three months. The media company plans to launch T-Pay this year. Except of the fintech payment called T-Pay, Tempo Media also plans to develop several strategic business, such as Tempo TV, Tempo Film, Games & Animation, Tempo Artificial Intelligence, online library, kuliah di mana application and some other products.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

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