PT Ayo Kasbon Indonesia, a financial technology startup, launched the innovative Ayo Kasbon financial services application in conjunction with Labour Day in Jakarta on Wedesday, May 1, 2024. The Ayo Kasbon application aims to facilitate employees or labourers to collect their salary earlier before the payday.
Ari Gunawan, Director of PT Ayo Kasbon Indonesia, said that there is a lot of information about people who have problems with illegal online lending platforms (pinjol) and/or loan sharks. Departing from this problem, PT Ayo Kasbon Indonesia made the Kasbon Digital innovation specifically for employees/labourers.
“We are grateful, coinciding with the commemoration of Labor Day, to be able to introduce the Ayo Kasbon application, an innovative Kasbon Digital service for employees, employees, and laborers. The process of submitting a kasbon can be done more easily, safely, quickly and flexibly. With this application, employees, employees, and laborers can withdraw part of their salary in advance before the payday date without being burdened with interest. In addition, Ayo Kasbon runs on sharia principles,” Ari said.
According to him, with the Ayo Kasbon business model, the target market is industrial / factory companies, offices, outsourcing, and civil servants. Ayo Kasbon can also facilitate companies that are currently carrying out manual casbon practices to switch to digital, in this case there is no cost charged to the company.
Meanwhile, an illustration of the current manual submission of kasbon is that the employee fills out the form, then permits it to the Human Resources (HR) department. If approved, the HR department will forward it to the finance department. Then, the cash is disbursed in cash.
Kasbon itself is a fund provided by the company as a facility for employees to take part of the monthly salary early before the payday.
The practice of earned wage access (EWA) digitally so far run by other parties, has various forms: some provide Kasbon limits up to 90 percent of salary, some up to 2-3 times the salary and the process of repayment (payment) of cash in instalments and interest. Ayo Kasbon is different from other platforms, because the maximum kasbon limit is limited to around 30-40 percent (depending on the agreement with the company that has employees) and payments are not in instalments and without interest (we only charge Admin Fees per time kasbon).
“Basically, Ayo Kasbon’s product mission is to prevent employees/employees/workers/laborers from being trapped by illegal loan sharks and/or loan sharks. Ayo Kasbon opens registration for companies or factories to provide digital casbon services for employees. More information can be seen on the website ayokasbon.com,” Ari said.
Ari cited that the difference between the Ayo Kasbon application and pinjol (Unsecured Online Loan). Kasbon is not a loan, but an employee’s right (salary) that is taken early before the payday. The nominal withdrawal with a pro rata salary scheme, which is a maximum of 30-40 percent of the employee’s total take home pay. No interest charged, no fines or other fees. Only an administration fee is charged. Disbursement of Kasbon directly to the employee’s account that has been registered by the HR department. Then, the employee’s salary will be deducted directly during payday (no instalment mechanism).
Meanwhile, pinjol is a loan with a certain amount, subject to admin fees, interest, and other fees, as well as administrative expenses. Pinjol is also at risk of bad credit. The payment method for pinjol is by collection. “This is the fundamental difference between the Ayo Kasbon platform and pinjol.”
The kasbon ceiling scheme is based on a pro rata salary, for example, a salary of Rp5 million and 20 effective working days per month, then the employee’s daily wage conversion is Rp. 250,000 per day, and the maximum kasbon ceiling is 30 percent. If the employee applies for a cash bonus on the 8th working day, then the cash bonus calculation (Rp. 250,000 x 8 x 30 percent) is a maximum of Rp600,000. Employees can apply for kasbon more than once a month as long as the employee’s kasbon limit is still sufficient.
PT Ayo Kasbon Indonesia is a sister company of PT Sarana Pasar Digital, a company that has been licensed by the Financial Services Authority as a financing agent with the name ArtaKu application. ArtaKu connects financial service institutions (commercial banks, BPR/BPRS, multifinance, and other Financial Service Institutions) with the nearest community (radius) who want to apply for loans with BPKB or certificate collateral.
As a sister company, ArtaKu can become a financing agent that connects companies that need ‘Salary Talangan Financing’ with creditors (LJK) to facilitate the provision of cash bonuses to employees through the Ayo Kasbon application. Ayo Kasbon service is also available as one of the products in the ArtaKu application.
