Standard Chartered Bank has collaborated with mobile operator Indosat to launch Straight2Bank Wallet payment service in Indonesia.
With this electronic banking platform, the bank’s corporate clients in Indonesia including development organizations, multinational corporations, non-bank financial institutions and fast moving consumer good (FMCG) companies can make cashless payments to banked and unbanked beneficiaries.
The service is offered via Standard Chartered’s cash management system and Indosat’s telecom network. It will allow beneficiaries to receive the funds electronically through their Indosat ‘Dompetku’ mobile wallets.
The mobile money service will help corporate clients mitigate the risks of fraud and theft associated with cash payments, as well as help reconciliation processes, Standard Chartered said.
PT Indosat president director & CEO Alexander Rusli said: "Partnership between Indosat and Standard Chartered Bank will further expand the ‘Dompetku’ service as an easy, fast and secure financial service.
"With this service, customers can easily conduct transactions, such as receiving salary payments and incentives, even without having a bank account. Straight2Bank Wallet will benefit the Indonesian society by widening financial access and furthering the development of the digital payments."
The Straight2Bank Wallet is now available in Kenya, Nigeria, Tanzania, Zambia, Pakistan, Bangladesh, the Philippines and Thailand.