This Day On The Street
Continue to site
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

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs