Jakarta, CNBC Indonesia – Indonesian startup PT Ayo Kasbon Indonesia, launched the innovative financial services application Ayo Kasbon at the same time as Labor Day in Jakarta, Wednesday (1/5/2024). The Ayo Kasbon application aims to facilitate employees/employees/laborers to collect their salaries early before the payday.
Ari Gunawan, Director of PT Ayo Kasbon Indonesia, explained that there is quite a lot of information about the public having problems with illegal online loan platforms (pinjol) and/or loan sharks. Based on this problem, PT Ayo Kasbon Indonesia created a Digital Kasbon innovation specifically for employees/employees/laborers.
“We are grateful that, coinciding with the commemoration of Labor Day, we can introduce the Ayo Kasbon application, an innovative Digital Kasbon service for employees, staff and laborers. The Kasbon application process can be done more easily, safely, quickly and flexibly. With this application, employees, “Employees and workers can withdraw part of their salary in advance before payday without being charged interest. Apart from that, Ayo Kasbon runs on sharia principles,” said Ari at the launch of the Ayo Kasbon application in Jakarta, Thursday (2/5/2024).
According to him, with the Ayo Kasbon business model, the markets it wants to target are industrial companies/factories, offices, outsourcing and civil servants. Come on, Kasbon can also facilitate companies that are currently carrying out manual Kasbon practices to switch to digital (in this case there are no fees charged to the company).
Meanwhile, an illustration of the manual cash bond application that is currently running, namely employees filling out the form, then getting permission from the Human Resources (HR) department. If approved, the HR department will forward it to the finance department. Then, cash is disbursed in cash.
Kasbon itself is a fund provided by the company as a facility for employees to take part of their monthly salary early before the Payday.
The practice of digital cashbon (earned wage access/EWA) that has been carried out by other parties, has various forms: some provide a Kasbon limit of up to 90% of salary, others up to 2-3 times the salary and a repayment (payment) process. Kasbon is paid in installments and bears interest. Ayo Kasbon is different from other platforms, because the maximum kasbon limit is limited to around 30%-40% (depending on the agreement with the company that has employees) and payments are not paid in installments and without interest (we only charge an Admin Fee per cashbon).
“Basically, the mission of the Ayo Kasbon product is so that employees/employees/workers/laborers are not caught in illegal loans and/or loan sharks. Ayo Kasbon opens registration for companies or factories to provide digital kasbon services for employees. Further information can be seen on the website ayokasbon.com,” said Ari.
Ari conveyed the difference between the Ayo Kasbon application and Pinjol (Online Loans Without Collateral). Kasbon is not a loan, but rather an employee's right (salary) which is taken early before the pay date. Nominal withdrawals with a pro rata salary scheme, namely a maximum of 30%-40% of the employee's total take home pay. There is no interest, no fines or other fees. Only administrative fees apply. Kasbon disbursement directly to employee accounts that have been registered by the HR department. Then, employee salaries will be deducted immediately when they are paid (there is no installment mechanism).
Meanwhile, a loan is a loan with a certain amount, subject to admin fees, interest and other fees, as well as administrative costs. Pinjol is also at risk of bad credit. The loan payment method is by billing. “This is the fundamental difference between the Ayo Kasbon and Pinjol platforms.”
The kasbon ceiling scheme is based on a pro rata salary, for example the salary is IDR 5 million and is effective for 20 working days per month, then the employee's daily wage conversion is IDR. 250,000 per day, and a maximum cash limit of 30%. If the employee applies for cashbon on the 8th working day, then the cashbon calculation (Rp. 250,000 x 8 x 30%) is a maximum of Rp. 600 thousand. Employees can apply for cashbon more than once a month as long as the employee's cashbon limit is still sufficient.
PT Ayo Kasbon Indonesia is a sister company of PT Sarana Pasar Digital, a company licensed by the Financial Services Authority as a financing agent organizer with the name ArtaKu application. ArtaKu connects financial service institutions (commercial banks, BPR/BPRS, multi-finance companies, and other financial service institutions) with the nearest community (radius) who want to apply for a loan with a BPKB guarantee or certificate.
As a sister company, ArtaKu can be a financing agent that connects companies that need “salary bailout financing” with creditors (LJK) to facilitate the provision of cash bonds to employees through the Ayo Kasbon application. The Ayo Kasbon service is also available as one of the products in the ArtaKu application.
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