Singtel launches real-time mobile remittance service

With Telkomsel as its partner, the service will be available in Indonesia.

Singtel and Telkomsel launched a real-time mobile remittance service to 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.

The service was launched at Festival Rising50, the first concert event celebrating 50 years of Singapore and Indonesia bilateral ties.

It marks the first time that Singtel and Telkomsel are collaborating on mobile money initiatives to drive innovation in both their markets.

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 US$409m yearly.

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 plan 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.