Monitise says Indonesian JV ready for business

Source: Monitise

Monitise Asia Pacific announced today that its joint venture with a subsidiary of PT Astra Graphia Tbk, was ready for business.

The joint venture - PT AGIT Monitise Indonesia - has successfully completed its installation in a Jakarta-based data centre to support the full spectrum of mobile banking, payments and commerce.

The platform will allow banks, mobile operators, retailers and other service providers to connect via a fully interoperable and secure network so they can deliver mobile services to both banked and unbanked customers. AGIT is providing both data centre services and local management support for the venture.

PT AGIT Monitise Indonesia is a joint venture between Monitise Asia Pacific and Astra Graphia Information Technology (AGIT). Monitise Asia Pacific is itself a 50/50 joint venture between Monitise plc (LSE: MONI) and the First Eastern Investment Group.

Monitise Group Chief Executive Alastair Lukies said: "With its vast market size, vibrant culture, entrepreneurial flair and consumers benefiting from rising wealth, Indonesia's prominence is growing as a major world economy. Monitise is honoured to have been selected by Astra Graphia to help develop mobile services which can bring added convenience to Indonesian consumers and businesses. We believe the unprecedented scale and consumer reach of Astra Group and the expertise in mobile secure services which Monitise provides will be a powerful combination."

He added: "Our platform enables consumers who have a bank account to stay in touch with their finances via their mobile smart phone, make payments and send money to friends and family. We also have the ability to provide services to the 'underbanked' population who have mobile phones but have no access to basic financial services or who want to be able to send money to their loved ones without having to risk other less secure methods."

The comments were made at a key business forum in Jakarta during a government delegation to Indonesia. Led by UK Prime Minister David Cameron and Trade and Investment Minister Lord Green, the delegatioon recognises the important and fast growing trade ties between Britain and Indonesia.

Indonesia, the world's fourth most populous country with 240m citizens and the largest economy in South East Asia, is one of the leading high-growth markets identified by UK Trade & Investment, the government department that helps UK-based companies succeed in the global economy.

Lord Green said: "At UKTI we are resolutely focused on supporting businesses as they explore and engage in opportunities opening up before them. Forging partnerships between countries and companies is vitally important to creating and sustaining new jobs, investment and competitive advantages in both established and new markets. Success in business hinges on seizing opportunities in fast-growing markets and we see a clear example of that here today in Jakarta via the collaboration between Indonesia's Astra Graphia and Britain's Monitise."

The first service to go live on the Indonesian platform in the middle of this year will be launched in conjunction with Permata Bank, one of Indonesia's top-10 banks and a recognised leader in mobile banking. The new service will mobilise Indonesia's extensive and world-leading ATM and payments infrastructure using Monitise's internationally established bank-grade technology platform.

Astra Graphia Director Harry Halim said: "The innovative bank-grade capabilities for new mobile services we are creating in Indonesia with our data centre in Jakarta reflect the value and significance we place on growing our document, information and communications technology business. Mobile has a key role to play in driving that growth."

Arifin Pranoto, AGIT Director, added: "Providing a trusted platform to deliver the next wave of innovation in banking and payments via mobile is key to our aspirations and we are delighted by the role we are playing in making that happen."

Monitise Asia Pacific Chief Executive Darren Sugden noted that Indonesia was already a leader in the adoption of mobile and social media. "The power of the mobile to help banked and unbanked consumers manage their money on the move has never been greater and can help to re-enforce the impressive emergence of the country as a global economic power," he said. 

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