Jakarta, December 7th 2023 - The advertising landscape in Indonesia has witnessed a remarkable surge, with ad spending reaching an unprecedented US $19.2 trillion in 2023, marking a 5.02% increase from 2021.
Taking into account that Indonesia's internet penetration rate stood at 77.0 percent of the total population at the start of 2023, This growth is also driven significantly by digital channels, which account for nearly 16% (approximately US $3 trillion) of the total expenditure.
In response to this digital boom, Aspire, Meta, and Bank Aladin have joined forces to empower Small and Medium Enterprises (SMEs) in Indonesia. This partnership introduces a unique offering of productive loans in the form of credits for SMEs, made readily accessible through the Aspire corporate card. This initiative enables businesses to tap into the vast potential of digital advertising on platforms like Facebook and Instagram with ease and efficiency.
Many smaller internet marketers encounter difficulties when trying to pay for their Meta campaigns with traditional cards, leading to delays in their campaign efforts and preventing them from maximizing their potential. This cumbersome process also results in a significant waste of their time and resources.
The collaboration between Aspire and Meta now allows the Aspire Card to be accepted as a payment method within the Meta platform. The Aspire card, supported by the Mastercard network, ensures seamless transactions, providing a reliable backbone for uninterrupted ad campaigns and various other business expenses.
Ferdy Nandes, General Manager at Aspire Indonesia, stated, “Our goal is to lift these hurdles, enabling SMEs to maximise their potential, including access to market their business easily. We are committed to simplifying financial processes and helping hardworking SMEs grow in the digital age with an all-in-one business solution tailored to the market.”
Recognizing that funding is another major pain point for Indonesian SMEs, Bank Aladin has joined the partnership to address these challenges head-on. Committed to providing practical financial solutions, Bank Aladin is offering productive loans specifically designed for SMEs.
This strategic approach not only facilitates smoother financial operations but also promotes enhanced visibility and efficient financial management, distinctly separate from the merchants' personal accounts.
Adding to this, Chief Commercial Officer of Bank Aladin Syariah, Stefen Loekito, commented, “Bank Aladin Syariah’s commitment to supporting Indonesia’s economic growth, especially in the MSME sector, by providing support through digital banking services that are in line with sharia financial principles. Bank Aladin Syariah always prioritizes banking convenience for customers and provides easy and efficient access for MSMEs. We believe that the collaboration between Bank Aladin Syariah, Aspire, and Meta is one of the keys to supporting the online presence of MSMEs to expand their market”.
In an effort to further support SMEs in enhancing their digital footprint, Aspire is offering an attractive incentive: a 1% cashback on all ad expenditures made through their corporate card.
A cornerstone of this initiative is the Aspire spend management platform. This innovative tool offers businesses complete transparency in their financial activities. Each transaction is immediately recorded on the Aspire dashboard, facilitating effective financial management and oversight. Apart from that, Aspire also offers a number of other financial solutions such as payables management, receivables management, and payment gateway services.
Adding to this, Aldo Rambie, Head of Industry at Meta, commented, “This collaboration aligns with our vision for innovation and leverages the extensive reach of Meta's platforms. We're committed to supporting MSMEs to expand their digital presence and contributing to their success by opening access for them to reach a wider audience.”
According to data from DataReportal report Digital 2023 : Indonesia, Facebook's ad reach in Indonesia has hit 43.4% of the total population, or 56.3% of the local internet user base, as of January 2023. The report also shows that Instagram's reach has reached 32.3% of the total population, which is 41.9% of the internet user base in the country.
Aspire’s strategic partnership with Meta underscores a shared commitment to fostering the growth of SMEs in Indonesia. By easing the financial processes associated with digital advertising, they are setting the stage for a more vibrant and inclusive digital economy.
Aspire is the all-in-one finance software for growing businesses. The company serves over 15,000 startups and SMBs in Southeast Asia, helping them save time and money with multi-currency accounts and cards, expense management, payable management, and receivable management solutions - all in one account.
Headquartered in Singapore, Aspire has over 500 employees across four countries and is backed by global top tier VCs, including Sequoia, Lightspeed, and Y-Combinator.
PT Bank Aladin Syariah Tbk, also known as Aladin, is the first Shariah Digital Bank in Indonesia, committed to developing trustworthy banking products and providing a seamless banking experience to enhance financial inclusion.
Aladin facilitates access to digital Shariah banking services for all segments of society and collaborates with industries across various sectors. Equipped with cutting-edge technology, our aim is to develop funding products, financing solutions, and other financial services to simplify fund transfers, payments, and purchases.
Aladin has been recognized with numerous awards, including The Best Financial Performance from Tempo Financial Award (2021), The Most Promising Islamic Digital Bank from CNBC Indonesia Award (2021), 1st Rank for Shariah Commercial Bank KBMI 1, and 1st Rank for Mobile Banking Shariah Commercial Bank KBMI 1 from Infobank (2022).
Additionally, Aladin has received the ESG Award 2022 with a Disclosure rating commitment of C from Majalah Investor, CSR Award 2022 from IDX Channel as Green Tourism, Marketers Editor Choice Award as the Breakthrough Islamic Digital Bank of The Year (2022), Islamic Banking Initiative of The Year from Asian Banking Finance Award (2023), and Best New Islamic Digital Bank Indonesia from World Economic Magazine (2023).