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Logiq plans to launch super app in Indonesia combining all of its mobile e-commerce and fintech solutions

Published: 12:40 22 Sep 2021 EDT

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The app’s features will be powered by Radix, a proprietary, internally developed platform designed to consolidate the data into a fast, easy-to-access centralized portal

Logiq Inc plans to launch its first-ever super app in Indonesia that combines all of its mobile e-commerce and fintech solutions into one app for easier access and greater interoperability.

The company said 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.

The app’s 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 centralized portal.

READ: Logiq in partnership to offer home delivery and mobile financial services to millions in Nigeria

Radix’s advanced 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 quickly and securely, including money transfers, receiving and repaying loans, accessing insurance, buying airtime or data, and paying bills or merchants -- all conveniently from their mobile device, anytime, anywhere.

“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,” said Brent Suen, president of Logiq, in a statement. 

“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.”

Logiq said 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 US$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.

Logiq noted that 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 owned by Grab and Uber.

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

He added: “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 capitalize on this continuing transformation, while providing a tremendous benefit to millions of Indonesians.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

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