The government's discourse to include online motorcycle taxi (ojol) drivers in the category of micro, small and medium enterprisesUMKM) is treated carefully by banks.
Bank Permata Chief Economist Josua Pardede assesses that the national banking system is basically ready to accommodate ojol drivers as financing recipients, provided that the expansion is carried out gradually and data-based. Banking resilience is currently quite strong with high capitalization and low non-performing loan ratios.
"Our financing system is basically ready to accommodate this segment as long as the expansion is gradual and data-based," Josua said on Wednesday (29/10/2025).
According to him, the concept of collateral needs to be adjusted to the character of digital work which is different from conventional businesses. Regulations have opened up opportunities for forms of collateral that are not only in the form of physical assets, but also based on business activities and performance track records.
"For ojol, the form can be translated into daily income history, consistency of working hours, cancellation ratio, service rating, to cash flow in partner wallets that are automatically deducted as a return mechanism," he said.
In assessing the ability to pay, Josua explained that banks can replace conventional evidence such as financial statements with objective and consistent digital performance data. The assessment can include the driver's character and work discipline, payment capacity based on daily net income, and business conditions in the operational area.
Schemes such as automatic deductions from partners' wallets, limiting the installment-to-income ratio, and protection through microinsurance, he said, can minimize the risk of default without burdening drivers.
Although financing opportunities are open, Josua warned that credit expansion without strict supervision could pose a risk of increasing the ratio of non-performing loans (NPLs). The fluctuating income of drivers makes this segment vulnerable to changes in economic conditions. Therefore, Josua considers it important for banks to limit credit exposure per platform, prepare adequate reserves, and monitor NPL ratios in detail in each region.
In terms of policy, Josua emphasized the need for comprehensive steps so that the expansion of access to financing for ojol drivers remains safe for banks. The implementation of a data-based assessment system integrated with alternative credit rating agencies and the optimization of program credit guarantee schemes so that risks are shared between the government, banks, and digital platforms . The precautionary principle, according to him, must be the foundation of every financing policy in the digital sector.
Josua assessed that the balance between expanding access and controlling risks can be achieved through cross-agency coordination and the implementation of prudential policies. "With this policy package, access to financing for ojol drivers can be expanded without sacrificing stability," he said. The implementation of micro-insurance, transparent auto-cut mechanisms, and OJK supervision of digital microcredit portfolios can keep the financial system stable amid the expansion of new financing.
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In line with Josua, Director of Digital Economy at the Center of Economic and Law Studies (Celios) Nailul Huda assesses that banks have their own standards in extending credit, including to ojol drivers. Each bank already has a credit scoring system to assess borrower eligibility and can utilize alternative data such as total income.
"With the latest OJK regulations regarding the ease of UMKM credit, lending to ojol drivers can utilize data other than banking data," said Huda.
The irregular income of drivers can indeed be a factor in reducing credit scores, but Huda believes that it is not a major problem. According to him, this kind of income pattern is similar to other UMKM players who have fluctuations in turnover, so banks can still assess the ability to pay based on the consistency and growth of the driver's performance from time to time.
Data from the Financial Services Authority (OJK) shows that the portion of UMKM loans to total bank loans continues to decline until it reaches around 19% of the total IDR 8,075 trillion as of August 2025.
Credit growth in this sector also slowed down, growing only 1.35% on an annual basis. with an NPL ratio recorded at 4.7%. The UMKM NPL ratio was recorded at 4.7% in August 2025, up from 4.53% in the previous month.
Strict regulations
Secretary General of the Indonesian UMKM Association (Akumindo) Edy Misero said the main problem is not the low interest of business actors, but the strict requirements from banks.
Many UMKM players are asked for collateral even though the loan value is below Rp100 million. "We have prepared business data, simple financial statements, SLIK OJK passed, all administration is complete. But collateral is still requested," he said.
Edy assessed that this condition makes it difficult for business actors to obtain fast and flexible working capital. As a result, many UMKM players end up looking for alternative financing outside banks in order to survive. Edy emphasized that simplifying credit disbursement procedures is key so that financing policies can truly reach small businesses and encourage economic growth.
Previously reported, UMKM Minister Maman Abdurahman is preparing a policy to include ojol drivers in the category of UMKM actors. This step is expected to expand access to financing for drivers through the People's Business Credit (KUR) program with an interest rate of 6 percent per year.
Maman explained that ojol drivers are part of the digital economy ecosystem that includes applicators, online merchants, and food ordering service providers. Therefore, regulations are needed that provide protection and recognition for them as independent business actors who are entitled to productive financing.
The Ministry of UMKM is said to have submitted this proposal to the Coordinating Ministry for Economic Affairs and the Ministry of State Secretariat for further review. The government is considering the formation of rules in the form of Presidential Regulations or Government Regulations so that ojol drivers have a clear legal basis as business actors who can access KUR.
Maman added that the plan will refer to Law No. 20/2008 on UMKM and Government Regulation No. 7/2021 on the Ease, Protection, and Empowerment of Cooperatives and UMKM.
"In addition, there is training to improve human resources, and a progressive tax incentive of 0.5 percent for micro, small and medium enterprises whose turnover is below Rp 4.8 billion per year," Maman explained.
