Annual PT POS CEO Summit

The annual PT POS CEO Summit was held this week in Indonesia, bringing together all POS Board of Directors, senior management, division heads, regional managers and branch directors for their yearly January meeting.

The gold-based financial app, POSPAY GOLD, was highlighted throughout the week-long meetings and events, including a POSPAY GOLD event presentation to over 200 POS Branch Directors.

The POSPAY GOLD app, which was launched in partnership with the Indonesian state-run national postal service PT POS, will enable the Indonesian Government to deliver access to gold-based financial services for its unbanked and underbanked citizens.

POSPAY GOLD will enable Indonesian citizens to benefit from the gold savings and trading products available on the Kinesis platform alongside the ‘Gold to Mecca’ feature – a shariah-compliant gold savings solution built for Islamic faith members saving for the Hajj pilgrimage.

Find out more about our Indonesian partnerships here:
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Kinesis & Indonesia Partnership | Kinesis Money

Kinesis has formed a strategic long term partnership with the Indonesian state-run national postal service. Find out more.

kinesis.money

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[Gary L]

Thanks CT. It’s great to see some terrific progress after all of the work put into this. Looking forward to any further tidbits on the Indonesian front in due course.

 

[jcriecke]

I remember, wasn’t part of the plan to have every postal employee open an account?

 

[Derek]

I remember, wasn’t part of the plan to have every postal employee open an account?

As I understand it, the plan was to pay postal employees using this system, so enrollment would be mandatory.

Not sure if that's still the case.

 

[SteveW]

I remember, wasn’t part of the plan to have every postal employee open an account?

The government has also made a commitment to use POSPAY GOLD for the gold portion of the Worker's Social Security pension plan (BPJS Ketenagakerjaan).

 

[AlM]

...and pensions. Staff could get a percentage of pay initially in KAU and choose to increase it. Allocating a portion of pensions, after some time, might be cheaper to administer than a normal policy, as well as the other, longer term benefits.

The Indonesian post office can pay its suppliers: electricity, office supplies, FM, etc. in KAU.

Cascading information via directors->managers->staff->customers takes time, but will grow stronger roots for the long term.

Inflation is around 6% in Indonesia and everyone looks at the same global price of gold and can see it increasing. Could be good timing.

 

[John Simpson]

Thought for today: - I note how minimum redemption on PosGold is 10gsm. - Clearly, there will have to be a 10gsm product to allow this to happen. - I'm not aware of one that Kinesis can supply. - Unless of course the Turkish mint has plans to produce one. - If so, it may become available on the KMS. - It'll be easy to post.

 

[Uchiki]

Thought for today: - I note how minimum redemption on PosGold is 10gsm. - Clearly, there will have to be a 10gsm product to allow this to happen. - I'm not aware of one that Kinesis can supply. - Unless of course the Turkish mint has plans to produce one. - If so, it may become available on the KMS. - It'll be easy to post.

While there may be other sources, the Kinesis Mint already has options:
1, 5, 10, 50 and 100g bars produced at the Kinesis Mint.

Catalogue in Jim's post here:

https://forum.kinesis.money/threads/kinesis-money-in-the-media.453/page-8#post-6359

 

[John Simpson]

While there may be other sources, the Kinesis Mint already has options:
1, 5, 10, 50 and 100g bars produced at the Kinesis Mint.

Catalogue in Jim's post here:

https://forum.kinesis.money/threads/kinesis-money-in-the-media.453/page-8#post-6359

Thanks Uchiki - Well, there we are then. - I'd not seen the catalogue.

 

[John Simpson]

Just had a quick look Uchiki. - Very Impressive - I would say it caters for every entry point into the market.
I'm glad I made the point now. - Cheers