MORE
MORE is an Indonesia-based eVoucher network platform founded in 2019 that enables banks, insurers, and retailers to issue digital vouchers redeemable across 20,000+ Indonesian merchant outlets on a usage-based "No Redeem No Pay" billing model.
- Company typePrivate
- Founded2019
- HeadquartersIndonesia, Indonesia
- Headcount—
- GTM typeB2B
- OfferingSoftware
What MORE does
MORE is an Indonesian electronic voucher (eVoucher) network platform founded circa 2019, headquartered in Indonesia. The company operates a B2B platform that enables enterprise issuers — primarily banks, insurance companies, and large retailers — to distribute digital vouchers redeemable across MORE's network of 20,000+ popular merchant outlets spanning banking, insurance, retail, grocery, gaming, entertainment, F&B, transportation, and energy verticals. The core platform supports flexible single-merchant or multi-merchant voucher selection within a single issuance, real-time processing, and merchant network onboarding through a dedicated partner program.
MORE's business model is built on a usage-based pricing structure branded "No Redeem No Pay," under which enterprise clients are charged only when eVouchers are actually redeemed by end users rather than on flat subscription fees. This aligns the vendor's revenue with realized voucher economics for issuers and constitutes the company's primary commercial differentiator. The company's enterprise customer base includes 9 Indonesian banks (BTPN-Sinaya, Danamon, HSBC, Jenius, Mandiri, Permata, Standard Chartered, UOB, BTN — the latter serving as the flagship state-owned bank client), as well as marquee non-bank issuers such as Shell (Shell SHARE program), Allianz (Smart Point loyalty), Mobile Legends, Steam, M-Tix, and Grab on the merchant side. Distribution is conducted via direct enterprise sales with website "Request Demo" CTAs and a WhatsApp contact channel, supplemented by monthly newsletter communications and a merchant recruitment funnel.
The company is privately held with no disclosed institutional investors, no funding rounds on record, no public management team information, and no disclosed revenue figures. Ownership and capitalization are not addressed in available sources. Press activity (monthly newsletters) extends through May 2024, indicating active but not visibly accelerating operations. The platform lacks any disclosed AI/ML capabilities or developer-facing APIs, positioning it as a pure operational infrastructure play rather than a data- or intelligence-led product.
MORE firmographics
Firmographics- Name
- MORE
- Legal name
- MORE
- Website
- https://more.id
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Short description
- MORE is an Indonesia-based eVoucher network platform founded in 2019 that enables banks, insurers, and retailers to issue digital vouchers redeemable across 20,000+ Indonesian merchant outlets on a usage-based "No Redeem No Pay" billing model.
- Ownership category
- akta.pro rank
MORE industry classification
Industry- Product category
- Digital Voucher Platform
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Prepaid Reload Networks & Distribution (Retail Top-Up) (FSAMANAO)
- akta.pro secondary industry
- Prepaid, Gift Cards & Voucher-Based Payments (MPAEALAE)
Keywords
Where MORE is headquartered
LocationHeadquarters
- HQ city
- Indonesia
- HQ country
- Indonesia
- HQ region
- Asia
Offices1 record
Markets served
MORE business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Usage-based eVoucher Service: MORE charges enterprise clients (banks, insurance companies) on a pay-per-usage basis - clients pay only when eVouchers are redeemed by end users. This is their primary revenue stream and unique positioning in the eVoucher market.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Usage-based pricing - Pay only when vouchers are redeemed |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
MORE product offering
Product offeringCore offering
MORE operates an electronic voucher (eVoucher) network platform that enables enterprise issuers — banks, insurance companies, retailers, energy and gaming brands — to distribute digital vouchers to their end customers for redemption across MORE's network of 20,000+ merchant outlets throughout Indonesia. The platform supports real-time voucher processing, multi-merchant redemption within a single voucher, and a unique usage-based billing model where enterprise clients only pay when vouchers are actually redeemed ("No Redeem No Pay").
Product overview
MORE is an Indonesian eVoucher network platform architected as a single, unified system. The core offering — the MORE eVoucher Network — is the central platform through which issuers (insurance companies, banks, retailers, and other businesses) distribute electronic vouchers redeemable across MORE's 20,000+ merchant outlets. The platform spans multiple vertical eVoucher products: Insurance eVoucher, Banking eVoucher (supporting loyalty programs for 9+ banks including BTPN-Sinaya, Danamon, HSBC, Jenius, Mandiri, Permata, Standard Chartered, UOB, and BTN), Retail eVoucher, Grocery eVoucher, and Games eVoucher (Mobile Legends, Steam). The platform is complemented by a Merchant Partner Program that recruits merchants to join the redemption network. Key platform differentiators include flexible voucher redemption across single or multiple merchants, real-time processing, and a 'no redeem, no pay' usage-based billing model.
Differentiator
Problem solved
Functional benefit
Products and services
- MORE eVoucher Network Core electronic voucher platform enabling enterprises (insurance companies, banks, retailers) to distribute vouchers redeemable across 20,000+ merchant outlets in Indonesia. Supports flexible, real-time voucher issuance and redemption with a 'no redeem, no pay' usage-based billing model.
- Insurance eVoucher eVoucher offering tailored for the insurance industry, allowing insurers to issue digital vouchers to policyholders for rewards, claims-related incentives, or loyalty programs via MORE's network.
- Banking eVoucher eVoucher offering for banks and financial institutions to power customer loyalty programs (e.g., Poin Spekta, Smart Point, SHARE) with multi-merchant voucher issuance and redemption.
- Retail eVoucher eVoucher offering that enables retail businesses to issue and redeem electronic vouchers across MORE's nationwide merchant network in Indonesia.
- Grocery eVoucher eVoucher offering supporting grocery merchants and chains to participate in the redemption ecosystem for digital voucher programs across MORE's network.
- Games eVoucher eVoucher offering for gaming platforms including Mobile Legends and Steam, providing entertainment voucher redemption through MORE's eVoucher network.
- MORE Merchant Partner Program Program inviting merchants to join MORE's network of 20,000+ popular stores across Indonesia, offering incremental revenue, brand exposure, and simplified operations for participating merchants.
Quantifiable outcome
- Coverage of 20,000+ merchant outlets across Indonesia
- +2 more outcomes
Companies that use MORE
Customer profileNamed customers18 records
Segments5 records
Ideal customer profiles3 records
MORE technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
MORE partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered flagship, core and minor.
- Bank Tabungan Negara (BTN)flagshipBTN (Bank Tabungan Negara) Tbk, a state-owned bank with the largest mortgage market share in Indonesia, partnered with MORE to develop and revamp its loyalty program - Poin Spekta. BTN is the 9th banking client after BTPN-Sinaya, Danamon, HSBC, Jenius, Mandiri, Permata, Standard Chartered, and UOB.
- Mobile Legends & SteamcoreMobile Legends and Steam were added as the latest Games eVoucher offerings through MORE, expanding the eVoucher catalog with gaming options for MORE clients' customers.
- Allianz Smart PointcoreAllianz Smart Point loyalty program was revamped with new looks and features in collaboration with MORE's eVoucher platform.
- Onokabe & NudlesminorOnokabe and Nudles joined as the latest merchant partners, expanding the food & beverage category within MORE's merchant network.
- Nanny's Pavilion & ChapayomminorNanny's Pavilion and Chapayom were announced as the latest merchant partners in the food & beverage category.
- Shell SHARE (SHell Advantage REward)flagshipShell SHARE (SHell Advantage REward) partnership brings a massive network of automobile workshops throughout Indonesia who can now access all of MORE's 20,000+ popular merchant outlets through the MORE eVoucher system.
- M-Tix & GrabminorM-Tix and Grab joined as merchant partners, adding entertainment and transportation categories to MORE's merchant network.
- BTPN-SinayacoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
- DanamoncoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
- HSBCcoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
- JeniuscoreOne of MORE's 9 banking clients (digital banking platform), providing loyalty program eVoucher services.
- MandiricoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
- PermatacoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
- Standard CharteredcoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
- UOBcoreOne of MORE's 9 banking clients, providing loyalty program eVoucher services to their customers.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
MORE competitors and assessment
Company assessmentEmerging players
- eGifter: Digital gift card and rewards platform with a multi-merchant eVoucher offering for enterprise clients. Comparable to MORE in distribution model but with a US-centric merchant footprint.
- Giftbit: Digital gift card delivery platform enabling businesses to send branded rewards from multiple merchants. Smaller-scale peer with similar B2B eVoucher distribution model, focused on North America.
Direct peers
- Tango Card: Digital gift card and rewards platform used by enterprises for employee/loyalty incentive programs. Highly comparable to MORE's B2B eVoucher infrastructure, with similar usage-based economics and multi-merchant catalog.
- Blackhawk Network: Global leader in branded prepaid and gift card payments, with a large two-sided network connecting issuers and redemption merchants. MORE is its closest direct competitor in the eVoucher/electronic voucher network model, at a much smaller scale and focused on Indonesia.
- Xoxoday: Rewards, recognition, and digital gift card platform used by enterprises globally. Overlaps with MORE in offering multi-merchant eVoucher catalogs to corporate clients for loyalty and incentive use cases.
- InComm Payments: Prepaid and gift card technology provider with a global network connecting issuers, brands, and retailers. Operates a similar two-sided voucher/closed-loop payments model and competes for the same enterprise loyalty and incentive use cases.
- Pluxee (formerly Sodexo BRS): Public-listed employee benefits and voucher specialist operating meal vouchers, gift passes, and loyalty platforms across 30+ countries, including Indonesia. Competes directly with MORE for enterprise loyalty and voucher issuance.
Regional players
- OVO: Major Indonesian digital wallet with a large merchant acceptance network and rewards/loyalty features. While not a pure eVoucher network, OVO overlaps with MORE in Indonesian loyalty/rewards and competes for similar enterprise issuer relationships.
- GoPay (GoTo Financial): Indonesia's largest digital wallet embedded in the Gojek super-app, with an extensive merchant network and points/cashback mechanism. Closest large-scale Indonesian regional peer for digital loyalty and merchant redemption.
Others
- Merchandising Technologies Inc: Prepaid and gift card processing technology provider for retailers and program managers. Adjacent ecosystem enabler that could partner with or compete against MORE depending on its Indonesian expansion strategy.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
MORE financial estimates
Financial estimateRevenue estimate
Valuation estimate
MORE leadership team
Management profileNumber of profiles
Profiles1 record
MORE funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MORE M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MORE
What does MORE do?
MORE operates an electronic voucher (eVoucher) network platform that enables enterprise issuers — banks, insurance companies, retailers, energy and gaming brands — to distribute digital vouchers to their end customers for redemption across MORE's network of 20,000+ merchant outlets throughout Indonesia. The platform supports real-time voucher processing, multi-merchant redemption within a single voucher, and a unique usage-based billing model where enterprise clients only pay when vouchers are actually redeemed ("No Redeem No Pay").
Is MORE a public or private company?
MORE is a private company. It is classified as unknown and is currently operating.
When was MORE founded?
MORE was founded in 2019.
Where is MORE based?
MORE is headquartered in Indonesia, Indonesia, in the Asia region.
How does MORE make money?
One revenue line is on record: usage-based eVoucher Service.
Who are MORE's main competitors?
Emerging players on record are eGifter and Giftbit. Direct peers are Tango Card, Blackhawk Network, Xoxoday, InComm Payments and Pluxee (formerly Sodexo BRS). Regional players are OVO and GoPay (GoTo Financial). Merchandising Technologies Inc is listed as an others.
Does MORE have an API?
No public API is recorded for MORE.
What industry is MORE in?
MORE's product category is Digital Voucher Platform. Its primary akta.pro industry code is FSAMANAO, Prepaid Reload Networks & Distribution (Retail Top-Up), with a secondary code of MPAEALAE, Prepaid, Gift Cards & Voucher-Based Payments. Its NAICS code is 518210 and its SIC code is 7372.