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Indonesian telecom adds mobile remittances

Some 60 million Indosat subscribers now have access to HomeSend, a joint venture between MasterCard, eServGlobal, and BICS.

HomeSend, a joint venture between MasterCard, eServGlobal, and BICS, today announced an agreement with telecom Indosat to make remittance services available to the company's 60 million subscribers in Indonesia, according to a press release. 

Through Indosat's Dompetku Mobile Money platform, users can send and receive funds across Indonesia's largest mobile money network. HomeSend will also be the first international remittance provider to give users access to Dompetku's 24,000 locations, according to the announcement.

"The ability to quickly send funds and conveniently receive them is critical to a successful remittance program," Stephen Doyle, CEO of HomeSend, said in a statement. "We're incredibly proud that our relationship with Indosat will enable consumers throughout Indonesia with access to the remittances payments backed by the country's largest network of locations."

The HomeSend service enables consumers to send money to and from mobile money accounts, payment cards, bank accounts or cash outlets regardless of their location or that of the recipient, according to the press release. The International Fund of Agricultural Development (IFAD), a specialized agency of the United Nations, estimates that 6.5 million Indonesians will send funds to family or friends back home in 2014, according to the announcement. The World Bank estimates that in total, $7.5 billion in remittance payments will be made into Indonesia this year.

"Providing financial support for families and friends is enough of a responsibility. Workers shouldn't need to worry about whether or not those funds reach their intended recipient," Alexander Rusli, CEO of PT. Indosat Tbk, said in a statement. "With the reach of the Dompetku network and the reliability of HomeSend, Indosat users can be sure their hard-earned wages are received quickly and easily."