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South Africa, Technology
GiftCard Indonesia (GCI), was founded by Antonius Taufan in 2012. The company is redefining the gift-giving experience by creating end-to-end solutions for the burgeoning gift card ecosystem in Indonesia. It is pioneering the gift card market by distributing reward cards to corporations seeking to incentivize their employees, and inspire loyalty in their customers and partners.
Antonius always had an entrepreneurial spirit. While studying accounting at St. John’s University in Minnesota on a scholarship, he created a small used textbook company to earn extra money. Upon graduating, Antonius hoped to one-day start a business to improve lives Indonesia. He marveled at prepaid cards sold directly to consumers regardless of credit, and searched for a way to bring a similar concept to his country.
GCI has done just that. It has captured all elements of the value chain, from gift card processing to distribution, allowing it to create an end-to-end ecosystem. There were several regulatory barriers, and difficulty introducing plastic cards to a mostly cash-based economy. However, when Founder’s Institute began work in Jakarta, Antonius was quick to enroll. Angel investors granted him $35,000 to develop Fokado, a venture that partners with corporations to provide prepaid experiences for customers and employees. With the National Bank of Indonesia as its first client, Fokado gained traction quickly.
GCI, now Fokado’s umbrella company, has a diverse array of partnerships, and Taufan anticipates that a growing movement toward non-cash payments will propel the company’s success.
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