Indonesia's mobile money platform ready for business
Monitise Asia Pacific announced that its Indonesian joint venture with PT Astra Graphia Tbk is opening its doors for business. The JV, called PT AGIT Monitise Indonesia, recently completed its Jakarta-based data center to support mobile commerce, banking and payments services.
Monitise said the new platform from the JV will give banks, carriers, retailers and service providers "a fully-interoperable and secure network so they can deliver mobile services to both banked and unbanked customers."
"Our platform enables consumers who have a bank account to stay in touch with their finances via their mobile smart phone, make payments and send money to friends and family," said Monitise Group's Chief Executive Alastair Lukies in a statement.
"We also have the ability to provide services to the 'underbanked' population who have mobile phones but have no access to basic financial services or who want to be able to send money to their loved ones without having to risk other less secure methods."
With the world's fourth largest population of 240 million consumers, Lukies said Indonesia is an increasingly important market.
"With its vast market size, vibrant culture, entrepreneurial flair and consumers benefiting from rising wealth, Indonesia’s prominence is growing as a major world economy," Lukies said.
"The power of the mobile to help banked and unbanked consumers manage their money on the move has never been greater and can help to reinforce the impressive emergence of the country as a global economic power," said Monitise Asia Pacific Chief Executive Darren Sugden.
Indonesian Permata Bank will be the first financial institution to offer services from the new platform. Permata Bank will mobilize Indonesia’s ATM and payments infrastructure, Monitise said.
Monitise Asia Pacific is itself a JV, owned by mobile banking and payments provider Monitise plc and First Eastern Mobile Investments Ltd. PT Astra Graphia Tbk is a technology solutions provider based in Indonesia.
For more stories like this, visit the money transfer/P2P research center.