29 July 2016
Find out more

Monitise forms Indonesian JV; signs up Permata

28 July 2011  |  6919 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  |  9361 views  |  0 comments
Monitise opens new mobile R&D centre

Monitise opens new mobile R&D centre

30 March 2011  |  8253 views  |  0 comments
Monitise FY losses widen despite revenue surge

Monitise FY losses widen despite revenue surge

25 August 2010  |  7750 views  |  0 comments
Monitise to raise £32m; extends Visa deal

Monitise to raise £32m; extends Visa deal

13 July 2010  |  10490 views  |  0 comments
Monitise prepares for growth with new investment and partnerships

Monitise prepares for growth with new investment and partnerships

17 December 2009  |  9548 views  |  0 comments
Monitise sales surge; pledges to double revenues in FY10

Monitise sales surge; pledges to double revenues in FY10

25 August 2009  |  6232 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  |  11354 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit capgemini.com

Top topics

Most viewed Most shared
Groupe BPCE agrees to buy FidorGroupe BPCE agrees to buy Fidor
7189 views comments | 31 tweets | 48 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
7005 views comments | 16 tweets | 22 linkedin
hands typing furiouslyManaging Big Data After Brexit
6477 views 0 | 6 tweets | 8 linkedin
hands typing furiouslyBank of Pikachu? What does Pokemon Go mean...
5588 views 0 | 10 tweets | 9 linkedin

Featured job

Find your next job