Following the rollout, funds can be remitted to approximately 80 Indonesian banks, including Bank Danamon, Bank Negara Indonesia and Bank Mandiri.
mRemit is available to subscribers of all mobile networks, and is compatible with both smartphones and feature phones. Customers use the funds in their mCash accounts for all remittances. They initiate the transactions using SingTels mWallet smartphone app, or by sending the word remit via SMS to a given number. The sending and receiving parties are set to be notified by SMS once transfers have been successfully completed.
SingTel is a communications group providing a portfolio of services including voice and data solutions over fixed, wireless and internet platforms as well as infocomm technology and pay TV. The Group has presence in Asia and Africa with 462 million mobile customers in 26 countries, including Bangladesh, India, Indonesia, Pakistan, the Philippines and Thailand.
In recent news, financial institution Standard Chartered Bank and SingTel have launched a mobile money service dubbed Dash which can be used by customers to make payments.
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