Yokke and SB Payment Service Forms Strategic Partnership to Strengthen Position as Indonesia’s Leading Payment Service Provider
PT. Mitra Transaksi Indonesia, SB Payment Service Corp.
- Yokke and SBPS have agreed to a partnership aimed at strengthening scalability through affiliate merchant business.
- SBPS aims to make a full-fledged entry into the global business starting with this partnership.
- The partnership will broaden Yokke’s offering and further enhance Indonesia’s current payment service ecosystem as a future vision.
JAKARTA, 2 October 2023 – Yokke announces strategic partnership with Japan-based SB Payment Service Corp (“SBPS”). SBPS is a leading payment service provider in Japan that offers payment services to a wide range of payment businesses, both within and outside the various subsidiaries and affiliated Companies of SoftBank Corp (“SoftBank”). The partnership will further complement Yokke’s comprehensive payment solution in Indonesia.
Seven years since it was first established, Yokke has exponentially grown, serving over 350,000 merchants and over 20 banks and financial institutions across Indonesia. Yokke’s mission remains to provide secure, innovative, and customer-friendly payment solutions that shorten the distance between having an idea and making a living from it.
Indonesia is predicted to contribute 42% of digital payment transactions across SEA by 2025. As reported by Bank of Indonesia, the digital economic and financial transactions are developing rapidly and driving economic activity. This is supported by the expansion of the digital economy and convenience of the digital payment system, coupled with the rapid growth of digital banking. Yokke and SBPS view this as growth opportunity to further accelerate with even more innovative, effective, and efficient solution for Indonesian payment industry.
Partnership with SBPS is driven with the same passion of making secure, efficient, and effective payment solution available for everyone across the region. SBPS and Yokke will consider bringing advanced technology aspects, such as the utilization of artificial intelligence (AI) for fraud detection, into current Yokke ecosystem. The joint force also aims to accelerate merchant growth through digitalization in the future.
President Director of Yokke, Ms. Niniek S. Rahardja believes this partnership will strengthen and brings more value to the growing payment industry in Indonesia. Yokke attributed its success and exponential growth to our strength in both technological and operational arm with wide network coverage across the archipelago. This collaboration will further accelerate Yokke’s growth.
“We are beyond excited with this partnership because this is joining forces, combining digital payment solution ecosystem from Yokke with SBPS access to global corporations and advanced expertise and cutting-edge technology. The aim is to capitalize this partnership to further expand while also bringing more innovative solution in order to encourage the development of digital payment solutions in Indonesia. The support from SBPS will make our business scalability even stronger,” Niniek said.
Mr. Jun Shimba, Representative Director and CEO of SB Payment Service Corp., shows high expectations that this partnership will introduce the fast-developing Indonesian market to Japanese companies and allow them to grow together, as well as the possibility of contributing to further development with the advanced technology and experience in the future.
"As strategic partners of Yokke, we aspire to provide Yokke's payment solutions to customers worldwide and support its business expansion in Indonesia. Yokke offers a wide range of payment methods and has the capability to provide both online and offline payment solutions, making it a company capable of meeting the needs of all customers. In the future, we plan to leverage SBPS’s latest technology and expertise in digital payments to drive business expansion in collaboration with Yokke.” said Jun Shimba.
SoftBank has a growth strategy called 'Beyond Japan'. Through this partnership, SBPS aims to provision Indonesian payment services for Japanese companies and other global companies and, in the future, create a modern, cashless society by providing user friendly, secure, and efficient payments.
Yokke and SBPS partnership is in line with Indonesia’s government mission of National Noncash Movement (Gerakan Nasional Non Tunai - GNNT) and its aim to create secure, efficient, and always available payment system and, in turn, facilitate an effective and efficient national financial system across Indonesia with ultimate goal of creating cashless society ecosystem. Since it was established, Yokke has been actively contributing to GNNT movement and accelerate payment system digitalization to maintain economic recovery momentum post COVID19.
Established in 2016, Yokke is a financial technology company with main mission to actively contribute in the creation of secure and convenient cashless society and ecosystem across Indonesia. Yokke is the only Indonesia payment solution provider with comprehensive solution for offline and online channel merchants, acquiring and issuing banks, and other financial institutions (both conventional company and fintech startups).
Committed to always prioritize transaction security, Yokke is the only Indonesia company which acquired a double international certification on transaction processing: PCI DSS and PCI PIN.
In 2019, Yokke was granted Payment Gateway license from Bank of Indonesia. Yokke is also licensed processor of international payment networks: VISA, MasterCard, CUP, JCB and the National Payment Gateway (GPN).
Yokke rapidly developed its network into 30 branches and 1,200 employees across Indonesia. As of today, Yokke maintains over 350K EDC and more than 2,000 online merchants (eCommerce). Beyond basic maintenance, Yokke also ensures its partner merchants are growing together with Yokke’s ecosystem.
Innovation and security are both embedded DNA of Yokke. Starting as pioneer in the development of most comprehensive acquiring transaction process (end-to-end process), Yokke diversifies its solutions to respond to the merchant and financial institution business challenges. Later, YokkeBiz was born and introduced as a comprehensive solution for merchants to manage and develop their business effectively and efficiently. Followed by, Yokke Login and Yokke Entry, biometric platform which provide the ease of recognizing customers with highes level of accuracy. The latest innovation is Yokke 3P, a solution driven by the specific needs to modernize ticketing in tourism, traditional market and parking industry.
Yokke will always leap forward with latest technology solution in line with our vision to be the the leading payment service provider in Indonesia.
Yokke more than just payment!
For more information, visit our official website www.yokke.co.id and join our social media:
SBPS is a leading payment service provider in Japan that offers payment services to a wide range of e-commerce businesses, both within and outside the various subsidiaries and affiliated Companies of SoftBank (“the subsidiaries”). (Our payment handling volume for the fiscal year 2022 was approximately 6.7 trillion yen.)
SBPS leverages its strength in collaboration with various companies within the subsidiaries in its business activities. The subsidiaries operate in diverse fields such as telecommunications, e-commerce, QR code payments, and social media networks, and they have numerous transaction partners and affiliate merchants. In addition to SBPS's own business operations, we significantly expand our network of affiliate merchants by providing a rich variety of payment services (including credit card, QR code payments, and electronic money, with over 40 different options) to the subsidiaries, catering to various needs.
Furthermore, we aim to enhance the transaction volume per affiliate merchant by providing services like AI fraud detection and store operation support services through a collaboration with "LINE" for newly onboarded affiliate merchants. SBPS also intends to expand its business internationally in the future by exploring service offerings beyond Japan.