Singtel, Telkomsel launch mobile money transfer service to Indonesia

SINGAPORE Telecommunications (Singtel) and Indonesian telco operator Telkomsel have launched a real-time mobile remittance service to Indonesia.

It is the first time the two telcos are collaborating on mobile money initiatives to drive innovation in both their markets.

The service, launched on Sundayat Festival Rising50, a concert to celebrate 50 years of Singapore-Indonesia bilateral ties, enhances the current facility that lets customers send money to Indonesian bank accounts.

Offered by SingCash under the Singtel Dash brand, it allows customers in Singapore to send money to PT Pos Indonesia's 4,500 cash-out points across the country through Weselpos Instan.

According to the Indonesian embassy in Singapore, there are 200,000 Indonesians living and working in the island republic. They remit over US$409 million to Indonesia yearly.

And in line with their commitment to work together on smart money initiatives, the two telcos also announced future plans to offer mobile remittance to Telkomsel's TCash, offering a complete mobile wallet-to-mobile wallet experience.

They also have plans to expand the number of cash pick-up points to GraPARI Telkomsel service centres, as well as PT Bank BRI branches in the second half of this year.