HomeSend, a joint venture between MasterCard, eServGlobal, and BICS, 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.
HomeSend is a joint venture created by MasterCard, eServGlobal and BICS that enables B2B cross-border and cross-network value transfers through a single connection. It builds on the successful deployment of mobile enabled person-to-person transfers in emerging markets and the digitalization of money transfer services. The HomeSend service innovatively bridges the gap between finance and telecommunication service providers and 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.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
