Another mobile payment initiative has been announced – this time in Indonesia. Telecommunications services giant Indosat Ooredoo Hutchison (IOH) has announced a partnership with banking payment platform Tara | Indepay.
The partnership will, say the two companies, provide an attractive payment experience to customers through Indepay’s network of retailers, banks and merchants.
Integrated into the myIM3 and bima+ applications, this platform will enable customers to make fast, safe and smooth transactions across payment networks with a zero-fee count capped model compared to traditional payment methods.
The partners say they will integrate and work closely together in the coming months to create robust solutions for all IOH customers.
Among problems that customers and merchants experience with payment mechanisms are transactions cancelled due to lengthy and complicated checkout processes, lack of preferred payment method or instrument, credit cards rejected, high fees and bank transfer fees.
Tara |Indepay will enable IOH customers – there are 98.2 million of them – to map their mobile number to one of their various funding sources such as bank accounts, e-money, and debit and credit cards as a Payment Identity (Pay-ID).This allows for faster and more secure transfers between accounts and a seamless payment experience.
Customers can then use Pay-ID whenever they want to make transactions without needing anything except a smartphone and the myIM3 or bima+ applications at various participating merchants, retailers and banks.
To achieve this, Tara |Indepay has begun to integrate with major banks across Indonesia. It will continue to add more banks to its network over the next 12 months.