Income Soars 400 Percent During The Pandemic, Cashlez Even Loss Rp7 Billion

JAKARTA - Digital payment company PT Cashlez Worldwide Indonesia Tbk. reported that it had succeeded in scoring revenue of Rp84.32 billion during the 2020 period. This achievement jumped 407 percent compared to the results achieved in 2019 of Rp16.61 billion.

President Director Cashlez Suwandi said the results had a positive impact on the company's financial performance. Even so, he said the profit books still could not be obtained.

"This increase has resulted in growth in the Company's profit share from a net loss of Rp10.85 billion in 2019 to a net loss of Rp7.13 billion in 2020," he said in a statement after a virtual public presentation regarding the company's performance for the 2020 financial year, Wednesday, June 2.

Suwandi added that last year the company acquired PT Softorb Technology Indonesia (STI) as a strategic business step.

"We believe that consistent efforts will bring Cashlez to a new chapter in the payment industry in Indonesia," he said.

Furthermore, he revealed that by the end of December 2020 the total merchants who had joined Cashlez had reached more than 9,000 outlets.

"Seeing the rapid development of digitalization in Indonesia, we see enormous potential for the payment solutions industry and will continue to provide support to business actors to develop their business in the digital era," he explained.

"We are optimistic that the business trip will be better with a target of 5,000 new merchants and an increase in gross transactions of 10 trillion," concluded Suwandi.