Insignia's Mr Tan (fifth from right) believes Payfazz's hybrid offline/online model is poised to win in a trust-based market like South-east Asia. Payfazz ropes in offline agents across Indonesia to help people without bank accounts access digital financial services with cash.
PHOTO: INSIGNIA VENTURES PARTNERS
Firm's agents accept users' cash and turn it to balances on Payfazz accounts that can be used to pay bills
THERE has been a lot of talk about Indonesia's unbanked population, but not many businesses are actually walking the talk to serve them, says Insignia Ventures Partners founding managing partner Tan Yinglan.
Fintech startup Payfazz, however, has been raising an offline...