Indonesia’s low bank account and credit card penetration rate lies in banks failures to understand the financial problems that the majority of the country’s population suffers from. Not only in Indonesia, but in most countries, banks require a list of qualifications and documents in order for a person to apply for a bank account or a credit card, which often is hard to obtain for people with low income, or those wanting to send or receive small payments. By recognizing such problems, FinTech startups in Indonesia have developed faster, cheaper and more secure ways to transfer money around the country and across the globe — as well as alternative ways to pay online, especially at e-commerce stores — without undergoing the complicated process of setting up credit cards and paying high transaction fees.

http://cointelegraph.com/news/114630/global-investors-bullish-on-indonesian-fintech-startups