LinkAja Business Models Strategy Development Using BMC Approaches

Abstract

In the first quarter of 2019, there was an increase in the value and the volume transaction on electronic money transactions in Indonesia. The development of electronic money is directly proportional to the high competition of companies engaged in the field of mobile payment. LinkAja is a mobile payment application product that is representative of collaboration between Telkomsel and the number of State-Owned Enterprises (SOEs). One of the keys to success in facing competition is to develop continuously. Therefore, it is necessary to develop the right business model to determine the optimal strategy in developing the LinkAja application business. The objectives of this research are formulating and developing LinkAja business models strategy. This result of this study proposed business model in the form of improvement for each element of its business model including: elements (1) Customer segments: Adding target customers to e-marketplaces and e-commerce, (2) Customer relationships: Developing cooperation with LinkAja competitors, (3) Value Proposition: Developing customer consulting services by providing training for using the LinkAja application, (4) Key Activities: Developing collaboration with partners and competitors, (5) Key Partners: Collaborating with the competitors such as Gopay, OVO, FUND, etc., (6) Key Resources: Using digital budget information systems to facilitate transparency of company budgets, (7) Revenue streams: Upgrading fees for premium services, and (8) Cost Structure: Research costs.

Developing Strategies to Improve Business Model of Online Laundry Marketplace Startup

“…Therefore, this study seeks to solve the problem of Infineeds which does not have a unique value and the market has not yet been formed by formulating a business development strategy to deal with these conditions and obtain a clearer market. Business development strategies are also carried out by knowing the business model used by the company [7]. One of the business model approaches that can be used is the business model canvas (BMC).…”

“…BMC is considered one of the tools that can make it easier for readers to understand the content and intent of the canvas itself because of its uniqueness which is able to show it visually [9]. BMC can be used as a business development model for IoT businesses and information services [7]. BMC is described as 9 element blocks.…”

Prospect of Islamic Electronic Money in Indonesia: Case Study on the LinkAja Application

“…As the first and only sharia electronic money service in Indonesia, LinkAja has received the MUI DSN certificate after the issuance of the MUI DSN Fatwa No. 116/ DSN-MUI/IX/2017 regarding sharia electronic money, as well as a license to develop electronic money products from Bank Indonesia (Wady & Kurniawan, 2018) (Alda & Wulandari, 2020). In its implementation, LinkAja Shariah Services prioritizes several basic principles, namely the placement of funds in collaboration with several sharia banks, applying transaction procedures that are following sharia principles, and are accepted by all LinkAja merchants.…”