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Logiq’s New Super App Is Closing the Gap on Financial Inclusion in Indonesia

Logiq Inc., a global provider of eCommerce and fintech solutions, is reportedly launching its first-ever super app in Indonesia that combines all of its mobile e-commerce and fintech solutions for easier access and greater interoperability.

The super app will provide access to the company’s PayLogiq e-Wallet, GoLogiq hyper-local food delivery, and other mobile eCommerce solutions, as well as its recently announced mobile fintech platform for microlending, driver’s license testing payments, and mental health consultations.

This comes after the fintech provider recently formed a partnership with KMSB to bring mobile fintech services to the region.

These app features will be powered by Logiq’s recently launched Radix, a proprietary, internally developed platform designed to consolidate the data generated by its mobile commerce business segments into a fast, easy-to-access centralised portal. Radix’s analytics and alternative scoring of unbanked individuals have been designed to enhance the company’s business planning and development in emerging markets.

Logiq’s digital wallet technology enables users to perform multiple financial transactions, including money transfers, receiving and repaying loans, accessing insurance, buying airtime or data, and paying bills or merchants – all from their mobile device.

Brent Suen, President, Logiq
Brent Suen, President, Logiq

“This new super app represents a major step towards improving the lives of millions of Indonesians who do not have access to traditional financial, payment, and health services,” noted Brent Suen, President of Logiq. “Rather than having to switch between apps for these essential services, Indonesians will gain access to a convenient, all-in-one app, as well as benefit from the built-in interoperability and data sharing between them. We see this combined functionality creating a multiplier effect in terms of broader adoption and daily use of our mobile commerce solutions.”

The super app will be designed to support and encourage better financial inclusion, which is greatly needed in Indonesia. The country has the third-largest unbanked population in the world after China and India, according to Merchant Machine.

Indonesia has a population of 270 million and total gross domestic product of more than a trillion dollars, according to the World Bank. The new super app would tap the country’s growing eCommerce market, which is projected to surpass $43 billion this year.

Smartphone penetration in the country is also on the rise, expected to increase from 67% in 2020 to more than 82% by 2026, according to Statista. “This outlook suggests the Indonesian market could greatly benefit from an all-inclusive super app that provides a mobile one-stop-shop for financial and health services,” added Suen.

The super app’s hyper-local food delivery service will compete with other delivery apps in the region, such as GoFood. Owned by Gojek, GoFoods currently has a market share of about 58%, with its rapid growth demonstrating the market opportunity for Logiq’s new super app. The remaining market share is primarily currently owned by Grab and Uber.

“User experience is no doubt the most important factor to consider when developing mobile apps,” added Suen. “We are creating this super app to provide the most seamless, convenient, and comprehensive solution for all of our service offerings.

“This past year and a half has accelerated the migration of nearly every aspect of a consumer’s life to digital channels. The app will be well-positioned to capitalise on this continuing transformation, while providing a tremendous benefit to millions of Indonesians.”

The Covid-19 pandemic has driven the adoption of digital financial services across Southeast Asia, and especially increasing demand for contactless digital banking services. According to SGE, Indonesia’s digital financial services market is expected to soar at a compounded annual growth rate of 34% to reach $8.6 billion by 2025.

Logiq recently announced it has received approval of an annual lending rate from the Indonesian Government to provide micro-lending services to the more than 52 million members of Badan Perlayanan Jaminan Sosial Ketenagakerjaan (BPJSTK). BPJSTK manages the pensions and health benefits for these members in Indonesia.

The rate approval allows Logiq to begin the initial rollout of its new mobile fintech offering to the 5 million contract and delivery drivers of Garda Digital Indonesia, a membership organisation overseen by BPJSTK, as well as to 6,000 government body employees. These members will be able to borrow up to 20% of their annual salary through the new programme.

Currently in beta testing, Logiq plans to launch the super app before the end of the fourth quarter.


  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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