MASTERCARD, INC. HomeSend, a joint venture between MasterCard (NYSE:MA), eServGlobal (LSE:ESG)(ASX:ESV), and BICS, today announced an agreement with Indosat to make remittance services available to the company’s 60 million subscribers in Indonesia.
Through Indosat’s Dompetku Mobile Money platform, users can safely 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.
“The ability to quickly send funds and conveniently receive them is critical to a successful remittance program,” said Stephen Doyle, CEO, HomeSend. “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. The International Fund of Agricultural Development (IFAD), a specialized agency of the United Nations, estimates that 6.5M Indonesians will send funds to family or friends back home in 2014. The World Bank estimates that in total, $7.5B 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,” said Alexander Rusli, CEO of PT. Indosat Tbk. “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.”
About HomeSend
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.
About Indosat
Indosat is a leading telecommunication and information service provider in Indonesia that gives mobile phone services, data communication services, internet services (MIDI), and mobile money services. At Q1 2014, Indosat has 59,7 million subscriber with some brand diversification such as IM3, Mentari, and Matrix. Indosat operates international calls through access code 001, 008, and flat call 01016. Indosat also has digital services which includes Ideabox (www.ideabox.co.id), Cipika (www.duniadigital.co.id/cipika), and Dompetku (www.indosat.com/dompetku). Indosat Dompetku was launched in 2008 offering revolutionary mobile money solutions to unbanked consumer based. Dompetku gives customers the opportunity to remit money, make bill payments, withdraw money and make purchases in partner retail stores, both online and physical stores.
