Fraud Blocker
In Collaboration with Ayoconnect, BukuWarung Launches Digital Product Features for Indonesia’s MSMEs

In Collaboration with Ayoconnect, BukuWarung Launches Digital Product Features for Indonesia’s MSMEs

  • Ayoconnect collaborates with BukuWarung to provide digital product feature for 6.5 million BukuWarung MSME users
  • The feature is powered by Ayoconnect's Digital Product API, enabling BukuWarung to provide their MSME users access to sell phone credit, electricity tokens, and electronic money top-ups to their end customers

Indonesian Micro, Small, and Medium Enterprises (MSMEs) contribute significantly to Indonesia’s economy. The Ministry of Cooperatives and SMEs of Indonesia reported that Indonesia has 64 million MSMEs that can employ as many as 120 million workers. MSMEs also contributed Rp8,573 trillion to the National Gross Domestic Product (GDP) in 2019. However, the COVID-19 pandemic has severely impacted MSME’s business growth.

A research conducted by UNDP and University of Indonesia on 1,100 MSMEs across 15 provinces in Indonesia found that more than 45% of MSMEs experienced difficulties in obtaining raw materials for their production. The majority of MSMEs also faced a decline in demand and difficulties in distributing their products.

To help Indonesian MSMEs overcome these challenges, BukuWarung, a technology company whose mission is to advance Indonesian MSMEs synergizes with Ayoconnect, a fintech startup that focuses on building financial APIs platform. The collaboration between the two allows 6.5 million MSME users of BukuWarung to increase their revenue through the sale of digital products.

“Demand for digital products such as mobile phone credit, electricity tokens, and electronic money intends to increase in the market. More than 6.5 million BukuWarung users now have access to additional business commodities to offer to their customers as a result of this new feature. This means that our MSME users have the ability to increase their revenue during the COVID-19 pandemic. The fully online transaction process also makes digital product sales unaffected by logistical route restrictions,” said Abhinay Peddisetty, CEO and Co-Founder of BukuWarung.

Abhinay further explained, “The new feature of digital products sales has facilitated the sale of mobile phone credit, electricity tokens, and electronic money top-ups. The upcoming digital product categories should also be available soon. This feature has strengthened BukuWarung's ongoing commitment to advancing Indonesian MSMEs."

Welcoming the strategic collaboration, Ayoconnect’s CEO and Founder Jakob Rost said, “We are proud to be part of BukuWarung's journey in empowering digital transformation and financial inclusion for Indonesian MSMEs. Going forward, we will continue to support our partners by building the infrastructure of Indonesia’s fintech ecosystem through API-based solutions.”


Ayoconnect is Indonesia's largest API platform. It enables developers to choose from a wide range of financial white-label products on Ayoconnect’s API platform and quickly launch them to their users. Ayoconnect remains in the background, focused on building and operating the necessary infrastructure while allowing their clients to monetize and expand their business in a fast and massive way.  

Founded in 2016, Ayoconnect’s API stack has seen rapid adoption. It is trusted by more than 1,000 Indonesian companies, including leading banks, retailers, e-commerce, fintech, and e-wallets such as Bank Mandiri, DANA, Indomaret, and Bukalapak. Ayoconnect’s APIs process more than 300 million API hits annually.

Ayoconnect has raised a total of IDR 142 billion from leading local and international institutional investors. Ayoconnect's Pre-Series B investors include BRI Ventures, Bank BRI's corporate venture capital unit;   Indonesia’s AC Ventures, headed by Chairman of the Indonesian Fintech Association Pandu Sjahrir; Kakaku, a public company listed on the Tokyo Exchange (TYO); and Finch Capital among others. Ayoconnect continues expanding its ecosystem to accelerate financial inclusion and adoption of embedded finance throughout Indonesia.