Indonesian financial technology startup JULO continues to push boundaries in financial innovation by launching JULO Poin, a rewards programme that delivers credit card-like perks to a broader audience through its accessible digital platform. This latest breakthrough aligns with JULO’s mission to democratise credit access in Indonesia, where credit card penetration remains low at just 6%. This initiative also builds on JULO’s unique positioning of a single limit for multiple uses, providing users with flexible, forever-available credit that mirrors the convenience of a credit card.
Beyond enhancing the user experience, JULO Poin is a key driver of loyalty. It is crucial in the financial sector, especially for JULO, where 80% of its portfolio consists of repeat users. With a simple and transparent one Poin equivalent to one Indonesian Rupiah model, JULO Poin turns every transaction into a rewarding experience, making it easy for users to track and maximise their benefits. Staying true to JULO’s mission to promote financial literacy, the programme also incentivizes responsible credit behaviour by rewarding early and timely repayments.
Users can redeem points to reduce their instalment payments or convert them into e-wallet balances and mobile phone top-ups. This option aligns with the growing preference for e-wallets among Indonesian consumers, with 84% favouring e-wallet payment methods for online purchases, according to the 2023 Indonesian e-Commerce Consumer Behaviour Report. With 106.9 million e-wallet users nationwide, JULO Poin caters directly to the needs of today’s digital-savvy consumers with a host of point earns and point burn options.
In the first three months following JULO Poin’s launch in July 2024, around 61% of active users are already actively participating in the program. In September 2024 alone, 100,000 users visited JULO Poin loyalty page, drawn by the program’s hassle-free, single-click redemption feature that makes claiming rewards effortless and appealing.
Nimish Dwivedi, chief business officer of JULO said, “As a financial inclusion provider we aim to make every click, every swipe and every interaction rewarding and fun to build a long-term relationship with our valued customers.”
“JULO Poin is powered by a custom-build system that offers a never-ending range of earn and burn options on a real-time basis. The underlying infrastructure ensures a fast process and high levels of security,” added Manoj Awasthi, chief technology officer of JULO.
This excitement is echoed by JULO user Agus Kristianto, who shared that he prefers JULO Poin over similar rewards programmes on other platforms.
“It’s so easy to earn points, and it makes transactions more fun. So far, I’ve earned 355,991 points and will do more transactions to get even more rewards. The points are so easy to redeem, and I can win even more rewards on top of the points, like a new gadget, cashback, and other grand prizes,” Agus added.
JULO Virtual Credit Card currently serves over 2 million users in Indonesia. With a high credit limit of up to USD 3,500, JULO facilitates both cash and non-cash transactions, including e-wallet top-ups, utility payments, e-commerce purchases, as well as education and healthcare expenses. This establishes JULO as a leader in the fintech landscape, offering greater convenience and flexibility compared to other traditional cash loans and Buy Now, Pay Later (BNPL) solutions in Indonesia.
