Mobile financial solutionsprovider Luup today outlined key success factors for building a seamlessremittances ecosystem that includes challenging geographies such as Indonesia.
At the MTD conference held in Dubai by the IAMTN, the international tradeassociation for the money transfer industry, Saqib Iqbal, Regional DirectorAsia Pacific for Luup, reinforced: "Users want cost-effective interconnectedmoney transfer services that they can access from any provider, anytime,anywhere." He added: "Mobile technology enables such efficient services, yetthey depend on co-operation and the building of payments gateways, seamlessremittance interconnections and cash-out facilities."
Indonesia is a particularly challenging geography due to a largelyunbanked population spread over hundreds of islands. The proliferation ofmobile phones though makes it highly conducive to mobile enabling services.Seizing this opportunity to bring cost effective, real time remittancesolutions to its customers, Dhasatra Indonesian Remittance, has joined Luup'sexpanding, open mobile money transfer ecosystem.
Luup will mobile enable the inbound remittance corridor to Indonesia forDhasatra and the subsequent distribution into Dhasatra's extensive network inthe country. Both banked and unbanked will be able to remit into bankaccounts of 120 banks or cash out from bank and post office branches as wellas telecom franchisees.
In 2010 alone inbound remittances to Indonesia amounted to around US$11Bn. The fast growing numbers of Indonesian migrants in the Middle East inparticular are set to benefit from this increased convenience. The UAE, forexample, ranks fourth globally with its sending volume to Indonesia and Luupalready has an established payments gateway serving users in the Middle East.Luup's regional presence provides Dhasatra with access to more sendinginstitutions and other key partners in the Luup ecosystem.
Nicolas R. Dharmawan, President Director of Dhasatra, joined Luup at theMDT conference in advocating seamless mobile money transfers and gaveexamples of business benefits his company is gaining: "Partnering with Luupbrings more remittances volume and traffic to Dhasatra and ultimatelyincreases revenue. We are also excited about opportunities we will be able topursue in Indonesia for m-commerce and domestic mobile money transfers as thepartnership evolves further."
The Money Transfer Dubai conference was held on the 29th March in Dubaiand Luup demonstrated its solutions on its stand as well as speaking on theconference stream 'Business opportunities and Challenges'. For furtherdetails see http://www.iamtn.org
About Dhasatra Indonesian Remittance
Dhasatra Indonesian Remittance is the first Indonesian Remittance companythat offers various services with its own system. Dhasatra IndonesianRemittance has direct connections to banks, the post office of Indonesia andtelecoms companies. And through our comprehensive partners we can provideremittance services even to the most remote or rural areas in Indonesia.
Luup offers banking-grade mobile payments and financial servicessolutions that solve customers' business challenges, giving access to newcost-saving and revenue-generating business models. Corporate and merchantbanks can take advantage of the Luup Mobile Corporate Banking Solution;Retail banks can benefit from the Branchless Banking Solution; MTOs &exchange houses can innovate with the Remittance Solution. Luup has provenbest-practice experience in developing, deploying and running mobile moneymanaged services since 2002. These range from mobile cash or salarydisbursements to remittances and corporate payments - all securely via themobile handset.
Luup is creating an extensive payments gateway, enabling its customers toexpand their own business reach with Luup's partners. The company devisesstrategies for financial institutions such as Deutsche Bank's GlobalTransaction Banking group and leading UAE bank, the National Bank of AbuDhabi. Other partners include Oxigen Services in India, Dhasatra in Indonesiaand ITC Ltd in Bangladesh. For additional information visithttp://www.luup.com
Luup and the Luup logo are trade marks of the Luup Group of Companies.All other company or product names mentioned herein may be trade marks oftheir respective owners