DOKU has introduced wallet as a service (WaaS), a comprehensive e-wallet infrastructure with APIs, enabling businesses to seamlessly integrate e-wallet capabilities into their ecosystem and provide an embedded wallet solution for their customers.
As a leading Fintech company with extensive licenses, DOKU is leveraging its e-money and e-wallet licenses to their maximum potential within the regulatory framework.
The collaboration with Tomoro Coffee and Coda, both avid users of WaaS services in their daily operations, marks the official launch of this service to the public.
Nabilah Alsagoff, co-founder and COO of DOKU, said “Previously, we utilised the e-money and e-wallet licence from Bank Indonesia for DOKU e-Wallet as a payment option in our ecosystem. Our interactions with merchants have sparked numerous innovative ideas to enhance this service.
“With the WaaS innovation, we aim to provide businesses across various industries with ease and flexibility in managing their financial operations. Moreover, businesses with applications can effortlessly integrate e-wallet features by connecting via DOKU.”
WaaS by DOKU introduces two innovations catering to distinct market segments:
- a. E-wallet for Business (managing corporate ecosystem funds): Petty cash management, a time-consuming task for businesses with multiple branches, becomes streamlined through DOKU. Tomoro Coffee, overseeing more than 300 stores in Indonesia, finds DOKU instrumental in ensuring transparency and efficient record-keeping.
- b. E-wallet for Consumer (embedded wallet within merchant app): DOKU’s WaaS now enables business applications to incorporate an Embedded Wallet, allowing customers to maintain a balance and make purchases seamlessly. Coda, a digital content marketplace for gamers in Indonesia, benefits from this feature as customers can easily top-up their balance and explore various gaming content on the platform.
Mukul Chawla, managing director of global partnerships, APAC, expressed excitement about the partnership, stating, “Our collaboration with DOKU to introduce their Embedded Wallet aligns with Coda’s commitment to choice, convenience, and security for our customers.”
Looking ahead, DOKU envisions its money management innovation utilising e-wallet accounts to support businesses across diverse industries.
