Ultra Voucher has set a fourth-quarter 2026 target for connecting its gift card to additional bank payment-terminal networks in Indonesia. PT Trimegah Karya Pratama Tbk, the listed company behind the service, disclosed the target on September 7; its September 10 public-expose answers, filed the following day, identify direct acceptance through BCA terminals as already available. [1] [2]
A larger voucher business precedes the integration target
The company’s half-year financial statements put shopping-voucher net sales at IDR 607.75 billion for January–June 2026, compared with IDR 401.87 billion in the same period of 2025. This product-specific series excludes phone credits and other sales. It describes the voucher business before the proposed fourth-quarter expansion, not the effect of that expansion. [3]
Shopping-voucher net sales before the planned bank expansion
Six-month net sales for the shopping-voucher product category, excluding phone credits and other products.
IDR billion
Tap or hover for details. All values are also available in the data table.
Source
Historical recognised sales, not UVGC-only revenue, redemptions, terminal transactions or a forecast of the fourth-quarter integrations. H1 2026 is unaudited.
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| Category | Shopping-voucher net sales |
|---|---|
| H1 2025 | 401.87 IDR billion |
| H1 2026 | 607.75 IDR billion |
The accounting policy recognises physical and digital voucher sales when control passes to customers through delivery or receipt. That is different from a recipient subsequently spending a gift card at a merchant. The figures therefore do not measure terminal redemption activity or the performance of UVGC alone. [3]
The Ultra Voucher Gift Card, or UVGC, sits alongside the mobile application and corporate rewards services. Management describes direct use at merchant tills and connections to electronic data capture terminals, known locally as EDC. Planned additional-bank connections would expand that acceptance infrastructure; selling vouchers inside banking applications is a separate distribution activity. [1] [2]
A recipient could face fewer steps at checkout, while a merchant could process a reward through existing equipment. These are intended mechanisms. The announcements do not quantify faster checkout, redemption rates or incremental merchant sales, and the term universal gift card does not establish acceptance at every merchant with bank equipment.
Voucher inventory gives the expansion a working-capital context
The carrying value of owned physical and digital voucher inventory rose from IDR 49.72 billion at December 31, 2025 to IDR 125.26 billion at June 30, 2026. The financial notes say digital vouchers represented 97.56% and 99.66% of inventory at those dates. These balances describe stock held by the operator, not unused consumer gift-card value or a forecast for the new banks. [3]
Carrying value of voucher inventory
Voucher inventory owned by the company at the two balance-sheet dates.
IDR billion
Tap or hover for details. All values are also available in the data table.
Source
Inventory is a stock measured at accounting carrying value, not sales, customer balances or expected redemption demand. June 2026 is unaudited; December 2025 is the audited comparative.
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| Category | Physical and digital voucher inventory |
|---|---|
| 31 Dec 2025 | 49.72 IDR billion |
| 30 Jun 2026 | 125.26 IDR billion |
The same note says no inventory was consigned to another party and that all physical and digital voucher inventory at June 30 was pledged as collateral for BCA credit facilities. This matters to distribution economics: holding voucher inventory is a balance-sheet commitment even where the product is digital. [3]
Ultra Voucher describes its brand history as beginning in 2016; the financial statements date the listed legal entity’s incorporation to July 2017 and commercial operations to 2018. Its public-expose answers identify customer incentives, employee rewards, trade promotions, referral programmes and corporate gifting as business uses. Management presents UVGC alongside merchant relationships and technology integration, without a separate revenue forecast for the fourth-quarter bank plan. [1] [2] [3]
The September primary disclosures establish a target, not completed additional integrations. They do not identify the additional banks, provide a merchant-level acceptance list or disclose the associated commercial terms. Named partners and confirmed live acceptance remain the evidence needed to assess delivery of that target.
In this article
Oliver Reed
Oliver Reed covers industry acquisitions, investment and market research for Gift Card News.