Monitise Asia Pacific Launches Indonesian JV with Astra Group
Monitise Asia Pacific has announced plans to launch mobile banking, payments and commerce services in Indonesia, the world’s fourth most populated country and one of the fastest-growing economies globally.
The company has signed a joint venture agreement with PT Astra Graphia Information Technology (AGIT) that will see it developing new mobile services for Indonesia’s huge population, both banked and unbanked. AGIT is an information and communication technology business, part of PT Astra International, one of the largest publicly-listed companies in Indonesia.
The new business, PT AGIT Monitise Indonesia, will establish a platform able to support the full spectrum of mobile banking, payments and commerce for banks, mobile operators, retailers and other service providers.
Monitise Asia Pacific is also pleased to announce that Permata, one of Indonesia’s top-10 banks, has entered into a memorandum of understanding (MoU) to be the launch bank for the new joint venture.
Monitise Asia Pacific chief executive officer (CEO), Darren Sugden, said: “We are delighted to be opening for business in Indonesia. The country has seen huge growth both economically and in mobile phone take-up in recent years and our new partnership promises great commercial opportunities for everyone involved. Building on our recent partnership deals in Hong Kong, this is further evidence that the time is right for our plans for rapid expansion across the Asia-Pacific region.”