INSIDE THE MIND OF OUR PRESIDENT & CEO [INTERVIEW – PART 2]

1. Is GoValuta a money changer?

No, it is not. GoValuta is a platform for licensed money changers to offer an online marketplace to their customers.

 

GoValuta is the first and only online end-to-end service platform that can be used by any licensed money changers in Indonesia. 

 

GoValuta is a platform for licensed money changers to offer an online marketplace to their customers.
- Dr. Romeo Rissal, President and CEO

2. What role do money changers play in GoValuta?

We only collaborate with licensed money changers who will provide high quality services to customers when exchanging currencies.

They show online their own real exchange rates, accept online orders and payments online or cash exchanges.
Real rates are important because some money changers may advertise rates to entice customers, but they end up not being available when arriving at the store.

The rates advertised on the GoValuta are available and can be ‘locked-in’ by paying online in advance.

3. Are money changers open to digital transformation?

Well as is the case of new things like digitalization, some money changers are open while others need more socialization.

It is never easy innovating as many traditional businesses don’t see the need for change and therefore resist the adoption of new technologies such as this online platform.

Money changers were not previously allowed to accept online payments, so the staff are not familiar with the process.

We are working closely with some pioneers and hope to help them introduce these new features and services soon!

4. Currency exchange is a highly regulated industry. Do you need to get approval from Bank Indonesia to fully realise your vision of transforming the money changers in Indonesia? What role does Bank Indonesia play in this vision?

We are introducing online payments for money changers; Online payments were previously not allowed by Bank Indonesia.

GoValuta and its pioneering money changer partners must pass rigorous testing by Bank Indonesia before online payments can be made generally available to all money changers to use.
GoValuta is introducing online payments for money changers.
- Dr. Romeo Rissal, President and CEO

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