This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

HomeSend And Indosat Make It Easier For 60 Million Indonesians To Send Money To Loved Ones

Stocks in this article: MAESV

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.

Copyright Business Wire 2010

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs