Ayoconnect Aims for 10 Times Business Growth

Ayoconnect envisions itself as the bridge that interconnects bill providers with online and offline payment partners.

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Indonesia-based fintech company Ayoconnect is targeting their business to achieve 10 times of business growth in December 2021 compared to December 2020. The company that also provides bill payment aggregator services is set to welcome more partners to achieve this target.

Ayoconnect's COO & Founder Chiragh Kirpalani said that in the first semester of 2021, the number of transactions that is facilitated by the company's open API network had increased by 600 percent on an annual basis. The number of companies that join as Ayoconnect's partners within the ecosystem has also doubled annually to more than 80 companies.

Chiragh said that Indonesia is a big market. To date, there are 170 million people who pay recurring bills. Ayoconnect envisions itself as the bridge that interconnects bill providers with online and offline payment partners, so that the billing process can run seamlessly.

"We hope that by the end of the year our business can grow 10 times compared to December last year," said Chiragh.

In terms of security, Chiragh stated Ayoconnect has a reliable security system. Ayoconnect has also been registered with the Ministry of Communication and Information of Indonesia (Kemenkominfo). Furthermore, Ayocconnect also hosts all of its transaction data at local cloud centers to comply with the regulation and to ensure that the data security is well-maintained.

Chiragh said that one of the challenges faced by Ayoconnect during the COVID-19 pandemic occur in the integration process, assome employees and their families were affected by COVID-19. "The unfortunate situation might cause a bottleneck in the process," Chiragh said.

This article was first published in Bisnis Indonesia. Arranged by: Leo Dwi Jatmiko.

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