Local strengths key to mobile payments success

Staff writer
21 Jul 2015
00:00
News
Features

Best Mobile Payment Service

Indosat, Dompetku (partnership with WorldRemit)

Last year's winner: N/A
Shareholders: Ooredoo Asia, Government of Indonesia, Skagen AS entities, public
Business segments: Cellular, fixed line and MIDI (multimedia data internet) services
CEO: Alexander Rusli
Key stats (2014):

Revenues of 24.08 trillion rupiah ($18.1 billion), up 1%; net loss of 1.98 trillion rupiah, down 28.6%; 63.2 million subscribers

As telecom tech evolves, new awards categories emerge to laud new functionalities. This year, Telecom Asia awarded its first-ever prize for Best Mobile Payments Service.

The first winner: Indosat, for the partnership established between its Dompetku Mobile Money service and UK-based WorldRemit.

Through that partnership, according to WorldRemit, registered Indosat Dompetku account holders can receive money on their phone within minutes of it being sent. The balance can then be used to make mobile payments or withdrawn as cash at over 50,000 locations, including ATMs.

“In the past year, new players - mostly startups - have begun to offer innovative ways to remit money globally,” says Randy Pangalila, group head of mobile financial services at Indosat. He says that while the scale is relatively small, “self-service websites and mobile apps are gaining traction against incumbents like Western Union and MoneyGram.”

He says the service now provides micro-finance as part of Indosat’s Inspera CSR program - providing working capital to women entrepreneurs in rural areas. “We will continue to build on this initiative in 2015.”

Clearly the mobile payments field is becoming quickly crowded, with branded NFC-enabled schemes like Apple Pay and fund-transfer services from OTT services like LINE. But Pangalila takes OTT competition in stride.

“Local strength will play a key role in this heavily regulated space,” he says, citing merchant ecosystems, and specific marketing initiatives.

Judges’ comment

“This partnership opens up great revenue potential and better customer experiences for Indosat users.”

VIDEO: TELECOM ASIA AWARDS 2015 CEREMONY

Telecom Asia Awards 2015 Winners:

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