26 August 2016
Find out more

Monitise forms Indonesian JV; signs up Permata

28 July 2011  |  6963 views  |  0 mobile keypad

Monitise Asia Pacific has set its sights on Indonesia, forming a joint venture with local player PT Astra Graphia Information Technology (AGIT) and signing up Permata bank to an upcoming service.

Monetise Asia Pacific is itself a JV between the UK vendor and Hong Kong-based First Eastern Mobile Investments set up in late 2009. The unit will hold a 49% stake in the Indonesian venture, with AGIT owning the remaining 51%.

The new business, called PT AGIT Monitise Indonesia, will build a platform based on Monitise's technology that can support the full spectrum of mobile banking, payments and commerce for banks, telcos, retailers and other service providers.

Permata, one of Indonesia's 10 biggest banks, has already entered into a memorandum of understanding to be the launch partner for the new joint venture.

Jusuf Salim, president director, AGIT, says: "Mobile solutions are expanding rapidly in Indonesia. Mobile banking is the next wave of innovation in banking and payments, and this joint venture will provide a central, independent and trusted platform for the Indonesian market."

Monitise Asia Pacific Darren Sugden, CEO, Monitise Asia Pacific, adds: "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."
KeywordsBAI

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Standard Chartered Bank taps Monitise for Indian mobile money apps

Standard Chartered Bank taps Monitise for Indian mobile money apps

03 June 2011  |  9398 views  |  0 comments
Monitise opens new mobile R&D centre

Monitise opens new mobile R&D centre

30 March 2011  |  8292 views  |  0 comments
Monitise FY losses widen despite revenue surge

Monitise FY losses widen despite revenue surge

25 August 2010  |  7778 views  |  0 comments
Monitise to raise £32m; extends Visa deal

Monitise to raise £32m; extends Visa deal

13 July 2010  |  10521 views  |  0 comments
Monitise prepares for growth with new investment and partnerships

Monitise prepares for growth with new investment and partnerships

17 December 2009  |  9580 views  |  0 comments
Monitise sales surge; pledges to double revenues in FY10

Monitise sales surge; pledges to double revenues in FY10

25 August 2009  |  6270 views  |  0 comments
Visa signs $13 million deal and takes minority stake in Monitise

Visa signs $13 million deal and takes minority stake in Monitise

30 June 2009  |  11395 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.comVisit capgemini.comFind out more

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
8697 views 0 | 56 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
7277 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
6860 views 10 | 23 tweets | 9 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6318 views comments | 17 tweets | 19 linkedin

Featured job

Find your next job