PT. Square Gate One is an information technology and banking solutions company focused on developing corporate and retail banking frontend applications. SGO offers Financial Supply Chain Management solutions, Cash Management Systems, and Omni-Channel Payment Systems for the banking industry.
Recognizing the banking industry’s need for integrated payment systems, a spinoff was carried out to create a more focused service, resulting in the establishment of PT Pembayaran Lintas Usaha Sukses, which operates in the Payment Gateway sector under the product name “Espay Payment Gateway.
In response to the growing importance of financial inclusion, the presence of unbanked communities, and the need for simple digital transaction solutions, PT. PLUS established a subsidiary in the payment network sector, PT. Mitra Pembayaran Elektronik, which launched its electronic money product, “Saldomu.”
Payment Gateway License
PT. PLUS, through its product Espay, has obtained a license from Bank Indonesia as a Payment Gateway and Electronic Money Provider with license number 20/374/DKSP/Srt/B.
As a licensed Payment Service Provider, PT. PLUS acknowledges the importance of Know Your Customer (KYC) and Customer Due Diligence (CDD) in combating money laundering and terrorism financing. To address this, PT. PLUS introduced Espay CDD, a solution to support financial institutions and businesses in performing effective Customer Due Diligence.
Realizing that the Espay CDD solution requires guidance, supervision, and validation from regulators, Espay CDD has registered under the OJK Digital Financial Innovation (IKD) Sandbox, within the Regulatory Technology (RegTech) cluster, with registration number S-238/MS/72/2019. To this day, Espay CDD remains the sole provider within the RegTech cluster.
The development of Espay CDD has been continuous, driven by feedback from industry needs and, importantly, input from OJK. To enhance market awareness, Espay CDD was rebranded as SIJITU, an acronym for Sistem Uji Tuntas.
PT. Mitra Pembayaran Elektronik, through its electronic money product SALDOMU, has obtained a license from Bank Indonesia as an Electronic Money and Fund Transfer Provider.
License Conversion
Under the new Bank Indonesia regulations, SALDOMU obtained a converted license as a PJP Category 1 (Account Issuance Services and Remittance) with license number 23/667/DKSP/Srt/B. At the same time, ESPAY received a converted license as a PJP Category 2 (Payment Initiation & Acquiring Services) with license number 23/675/DKSP/Srt/B.
SALDOMU License
Licensed by Bank Indonesia as a QRIS Issuer & Acceptor.
After proving that SIJITU complies with regulations and delivers positive results for the financial industry, OJK granted the product a recommended status with registration number S-13/D.07/2024.