Wirecard's Indonesian subsidiary PT Prima Vista Solusi has teamed up with PT Finnet Indonesia and PT Telekomunikasi Selular (Telkomsel) to support the acceptance of contactless, NFC-based electronic money "TCASH" at major retailers with their nationwide network.
Customers at the retail stores can pay for their purchases and utility bills using their NFC mobile phones. Wirecard provides the NFC point-of-sale acceptance, which is integrated with the retailer's front-end store system for optimal transaction speed and accuracy.
TCASH is an electronic wallet product of Telkomsel, a subsidiary of PT Telekomunikasi Indonesia (Telkom) and Singapore Telecommunication Ltd (SingTel). The wallet enables Telkomsel's subscribers to pay for bills, goods and services through their mobile phones, which are embedded with the TCASH NFC stickers, both online as well as point-of-sales. Telkomsel is Indonesia's largest cellular operator with network coverage of more than 95 percent of the population in Indonesia.
PT Finnet Indonesia, a joint venture between Telkom (Cq. PT. Multimedia Nusantara) and Yayasan Kesejahteraan Karyawan Bank Indonesia (Cq. PT. Mekar Prana Indah) was formally formed in January 2006 to provide IT infrastructure and services to support financial transactions nationwide. Syaiful Rahim Soenaria, Director of Business and Services, PT Finnet Indonesia (Finnet) stated: "Finnet is proud to engage strong partners like Wirecard Indonesia to continuously expand our service infrastructure, as well as bringing in innovative value-added solutions for our clients in Indonesia. It is our goal to provide the public sector with a good variety of electronic payment transaction methods for more convenience and security."
Ms Widhayati Darmawan, Managing Director of PT Prima Vista Solusi said: "The partnership with Telkomsel and Finnet to broaden TCASH acceptance in major retailers in Indonesia is a showcase of Wirecard's commitment in providing relevant technologies to facilitate cashless transactions. With an approximately 250 million population and sizeable unbanked segment, Indonesia presents good potential in terms of the addressable market for electronic money and micro payment solutions."