Singtel, Telkomsel launch real-time mobile remittance service

It will allow customers to send money to cash-out points in Indonesia.

Singtel and Telkomsel launched a real-time mobile remittance service for Indonesia. Offered by SingCash under the Singtel Dash brand, this service allows customers in Singapore to send money to PT Pos Indonesia’s 4,500 cash-out points across the country via Weselpos Instan. This is an enhancement to the current facility that lets customers send money to Indonesian bank accounts.

According to the Embassy of the Republic of Indonesia in Singapore, there are 200,000 Indonesians living and working in Singapore. Outward remittance from Singapore to Indonesia totals more than $567.7m yearly.

“Indonesia is one of our main remittance corridors and we are pleased to partner Telkomsel to offer convenient and secure mobile remittance cash pick-up service for our Indonesian friends. Singtel Dash will continue to enhance the mobile payments experience for our customers and enable their digital lifestyles. We are also excited to contribute to Singapore’s journey to a Smart Nation by developing the mobile payments ecosystem in Singapore,” said Yuen Kuan Moon, Chief Executive Officer for Consumer Singapore, Singtel.

"Telkomsel's partnership in Singtel's remittance service is one effort to support our government in promoting financial inclusion for Indonesian people, especially the unbanked segment. Foreign remittance enables them to improve their quality of life as well as provide an opportunity to begin saving for the future. We believe every little effort to promote financial inclusion will also accelerate the growth of Indonesia’s economy," said Ririek Adriansyah, Chief Executive Officer of Telkomsel.