Fintech

Q&A: Dana CEO on how to build a payments app for Indonesian millennials

Former gaming entrepreneur Vincent Iswara explains how he holds the attention of his youthful user base and leans on the support of his tech-savvy shareholder Ant Financial.

Indonesia’s youthful population is flocking to e-commerce websites, many of them discovering and experimenting with apps and transacting for the first time.

As a result, digital payments are starting to take off. Indonesian financial technology start-ups like Dana, Go-Pay and Ovo are growing fast as they look to build apps that satisfy customers across the archipelago who have a median age of just 30.5 years.

More than half of Indonesians were unbanked in 2018, according to the World Bank, but as competition increases to attract new users to payment platforms, this figure is expected to drop.

“We are focused on millennials. We...

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