Business
Logiq’s PayLogiq Partners with Indonesian Bank BPRS Insan Cita to Provide Digital Payment Solutions to 18,000 Customers
Logiq’s PayLogiq Partners with Indonesian Bank BPRS Insan Cita to Provide Digital Payment Solutions to 18,000 Customers.
About this update from Logiq Inc.
[{"type":"text","content":"\n NEW YORK, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning customer acquisition solutions, has partnered with Jakarta – PT Bank Pembiayaan Rakyat Syariah Insan Cita Aritha Jaya (BPRS Insan Cita) to offer micro-finance services and digital payment solutions to its more than 18,000 customers and general public. Logiq will provide these services through its mobile fintech platform, PayLogiq, including an eWallet, online bill payment, funds-in-advance-of paycheck and other financial products. These services are now available to select customers and Logiq expects to fully release these services over the next three months. “We welcome BPRS Insan Cita as the first Indonesian bank to join our new micro-finance program,” said Logiq’s president, Brent Suen. “Insan Cita shares our vision of greater financial inclusion in Indonesia, with this advanced through the greater adoption of our micro-finance services. “The introduction of this program to their thousands of customers represents a tremendous endorsement of our micro-finance and mobile payments solutions. We see this paving the way for other banks to follow, as well as a rapid ramp up in revenue generated by this micro-finance program.” The partnership with BPRS Insan Cita follows Logiq’s recent approval of a lending interest rate from the Indonesian government for the launch of micro-lending services to the more than 50 million members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK), which manages their pensions and health benefits. The lending rate approval is part of Logiq’s earlier announced launch of mobile fintech services in an exclusive strategic alliance with the country’s social security program provider, Koperasi Mona Santoso Berjaya (KMSB). Together, they will be offering microloans to BPJSTK members for personal and business use. Logiq and KMSB are also developing a jointly owned and operated mobile fintech platform designed to deliver these mobile financial services throughout Indonesia. Logiq, through its Indonesian operations, is providing the platform design and technology, management, ongoing hosting and technical support. KMSB is providing the professional and financial institutional relationships that will drive the micro-finance prog...