The newly launched system will enable e-commerce shoppers and merchants to transact across banks via automated teller machines (ATMs), e-banking services and credit cards. In 2009, Telkom also introduced Mojopia, a platform for online shopping that included a payment system and which was operated by its subsidiary.
Telkom has revealed plans to attract 1,000 registered merchants for Finpay and process 1 million transactions per month by the end of 2012. The service currently has 150 merchants. Finnet also provides Finpay services to other e-commerce websites including plasa.com and melon.co.id, which are also run by Telkom.
Finnet provides electronic payment systems and services such as online bill payments and interbank transactions before going for online shopping payment systems.
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