Aiming to support SMEs, LOVE is ready to expand to 25 countries

LOVE supports SMEs

LOVE digital financial platform, which markets are small and medium enterprises (SME/UKM) is ready to expand to 25 countries by 2022. Business and Operation Director of LOVE Indonesia, Calindra Da Cunha in Jakarta, Tuesday 10/10/2020, said since August 2019 Charoen Pokphand founded a fintech platform that focuses on remittance service (money transfer) as well as an e-commerce marketplace called LOVE.

In Indonesia, the company is relatively new, however it has been around for quite some time in a number of Asian countries such as Thailand, Philippines, Vietnam, Cambodia with headquarters in Thailand.

LOVE focuses on developing small and medium businesses (SME) and at the same time becomes a cross-border payment or remittance.” Now we are present in five countries, the target is that in 2022 we will enter 25 countries across the globe,” he said.

According to him, for LOVE Indonesia in the initial stages, the remittance service is still for domestic use, then will move on to international service. This remittance service is to facilitate SMEs trading from other cities or abroad and require the submission of purchasing orders (PO).

Calindra explained, for domestic and international remittance service, LOVE has received an official license from Bank Indonesia.

“With LOVE, we want to create a fintech application that can provide added value to the community and to enable people who want to start or grow their business but have limited capital and need funds,” said the man who is familiarly called Rio.

In addition to payments and remittances, Rio added, LOVE Indonesia also provides e-commerce for various products, especially Charoen Pokphand food products, such as chicken and seafood.

According to him, since October last year until now, LOVE Indonesia already has around 1,700 agents and this year it is targeted to have 100,000 agents spread across a number of cities in the country such as Jabodetabek, Karawang, Cirebon, Semarang, Solo, Bali, Lombok, and many others.

Regarding transactions, LOVE Indonesia has an average of 10,000 transactions per day, covered by the four pillars of services provided by the platform – remittances, payments, financial and e-commerce.

Sources:

1. https://www.antaranews.com/berita/1346774/sasar-ukm-platform-keuangan-digital-ini-siap-rambah-25-negara

2. https://swa.co.id/swa/trends/charoen-pokphand-rambah-bisnis-platform-keuangan-dan-niaga-el

3. https://www.beritasatu.com/ekonomi/607037/charoen-garap-bisnis-remitansi-berbasis-aplikasi