Monitise Asia Pacific has signed a joint venture agreement with PT Astra Graphia Information Technology (AGIT) in Indonesia. The new business, PT AGIT Monitise Indonesia, will develop mobile banking, payments and commerce services in the country. Permata has entered into a memorandum of understanding to be the launch bank for the venture.
Monitise Asia Pacific chief executive Darren Sugden says: “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. Building on our recent partnership deals in Hong Kong, this is further evidence that the time is right for our plans for rapid expansion across the Asia Pacific region.”
AGIT president director Jusuf Salim comments: “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. We are delighted to be partnering with Monitise, a leading player in this field.”
He adds: “This will equip AGIT Monitise with world class technology and the mobile platform established will set a high standard for this emerging use of wireless technology with the scale, security and reliability required to make mobile money a reality for Indonesian society.”
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