CASH Strengthens Digital Ecosystem Despite Revenue Decline in 2025
JAKARTA - PT Cashlez Worldwide Indonesia Tbk (CASH) recorded dynamic performance throughout the 2025 fiscal year amid business strategy adjustments and a transformation of its business model in the increasingly competitive digital payments industry.
Bank Indonesia recorded national digital payment transactions in the first quarter of 2026 reaching 14.39 billion transactions, or growing 33.76 percent year-on-year (YoY). Meanwhile, QRIS transactions grew 119 percent (YoY).
The company assesses that this industry growth indicates that the adoption of non-cash payments in Indonesia remains on a positive trend and continues to develop.
In addition, the volume and value of transactions also increased throughout 2025.
Nevertheless, this increase in activity has not been fully accompanied by revenue growth.
The company booked revenue of Rp 110.19 billion in 2025, down from Rp 138.34 billion the previous year.
From a profitability perspective, the company still recorded a net loss of Rp 67.74 billion in 2025. This figure increased compared to the previous year.
The company stated that the increase in net loss was influenced by rising operational expenses, funding costs, and declining revenue. Additionally, the revenue structure, which is still dominated by device sales, also experienced a decrease in contribution to revenue.
The company assesses that this condition makes long-term revenue prospects relatively limited compared to a financial technology (fintech) business model based on services.
However, such corporate actions are also seen as potentially causing dilution for shareholders if not followed by financial performance improvements in the medium term.
The company is also undergoing business transformation, including strengthening the digital ecosystem, technology integration, and rebranding to ‘cashUP’.
However, these steps are assessed as still requiring time to deliver significant impacts on financial performance.
PT Cashlez Worldwide Indonesia Tbk is a financial technology company that provides integrated digital payment solutions as well as the distribution of devices and payment acceptance infrastructure for merchants ranging from MSMEs to corporations.
The company focuses on developing a non-cash payment acceptance ecosystem based on information technology with a payment acquiring business model that combines devices, systems, and operational transaction services in one integrated platform.