TelUPay International Inc. (TLPY) with its partners Datindo and Bistrat Maharlika, has deployed TelUPay's web based remittance platform with Artajasa, Indonesia's largest ATM network that services over 70 national banks.
The service will enable remittance companies in overseas locations like Hong Kong, Singapore and Malaysia to easily send remittances from overseas workers, home to their families and friends that are directly credited to the recipients' bank accounts in real-time.
TelUPay and its partners have started its marketing efforts in Hong Kong, Singapore and Malaysia to build out partnerships with overseas remittance companies to use the service. The marketing campaign will continue until TelUPay has numerous remittance companies using the service in each location. "TelUPay is very excited to work with its Indonesian partners in promoting its web based international remittance service to millions of Indonesians that work overseas," states Mr. Adrian Ansell, CEO of TelUPay.
TelUPay generates revenues between US $0.40 and US $0.60 per transaction for each international remittance.