Payment solutions provider Revenue Group announced that its subsidiary, Revenue Harvest, has obtained an online moneylending license from the Ministry of Local Government and Housing Development (KPKT).

The license is effective from 12 October 2023 to 31 March 2025, and is renewable every two years.

The company plans to provide digital loan and microfinancing services to its existing customers and potential micro, small, and medium enterprises (MSMEs).

This will allow Revenue Group to offer an end-to-end solution by enhancing its business offerings to bridge the payment and credit gap in the financially underserved market.

Revenue Group currently provides extensive payment solutions, including electronic data capture terminals, electronic transaction processing, digital payment solutions and e-Know Your Customer (e-KYC) solutions.

The group said that it expects the online moneylending business to contribute positively to its overall future earnings.