JAKARTA, Indonesia--(BUSINESS WIRE)--Monitise Asia Pacific announced today that its joint venture with a subsidiary of PT Astra Graphia Tbk, was ready for business. The joint venture - PT AGIT Monitise Indonesia - has successfully completed its installation in a Jakarta-based data centre to support the full spectrum of mobile banking, payments and commerce.
The platform will allow banks, mobile operators, retailers and other service providers to connect via a fully interoperable and secure network so they can deliver mobile services to both banked and unbanked customers. AGIT is providing both data centre services and local management support for the venture.
PT AGIT Monitise Indonesia is a joint venture between Monitise Asia Pacific and Astra Graphia Information Technology (AGIT). Monitise Asia Pacific is itself a 50/50 joint venture between Monitise plc (LSE: MONI) and the First Eastern Investment Group.
Monitise Group Chief Executive Alastair Lukies said: “With its vast market size, vibrant culture, entrepreneurial flair and consumers benefiting from rising wealth, Indonesia’s prominence is growing as a major world economy. Monitise is honoured to have been selected by Astra Graphia to help develop mobile services which can bring added convenience to Indonesian consumers and businesses. We believe the unprecedented scale and consumer reach of Astra Group and the expertise in mobile secure services which Monitise provides will be a powerful combination.”
He added: “Our platform enables consumers who have a bank account to stay in touch with their finances via their mobile smart phone, make payments and send money to friends and family. We also have the ability to provide services to the 'underbanked' population who have mobile phones but have no access to basic financial services or who want to be able to send money to their loved ones without having to risk other less secure methods.”
The comments were made at a key business forum in Jakarta during a government delegation to Indonesia. Led by UK Prime Minister David Cameron and Trade and Investment Minister Lord Green, the delegation recognises the important and fast growing trade ties between Britain and Indonesia.
Indonesia, the world’s fourth most populous country with 240m citizens and the largest economy in South East Asia, is one of the leading high-growth markets identified by UK Trade & Investment, the government department that helps UK-based companies succeed in the global economy.
Lord Green said: “At UKTI we are resolutely focused on supporting businesses as they explore and engage in opportunities opening up before them. Forging partnerships between countries and companies is vitally important to creating and sustaining new jobs, investment and competitive advantages in both established and new markets. Success in business hinges on seizing opportunities in fast-growing markets and we see a clear example of that here today in Jakarta via the collaboration between Indonesia’s Astra Graphia and Britain’s Monitise.”
The first service to go live on the Indonesian platform in the middle of this year will be launched in conjunction with Permata Bank, one of Indonesia’s top-10 banks and a recognised leader in mobile banking. The new service will mobilise Indonesia’s extensive and world-leading ATM and payments infrastructure using Monitise’s internationally established bank-grade technology platform.
Astra Graphia Director Harry Halim said: “The innovative bank-grade capabilities for new mobile services we are creating in Indonesia with our data centre in Jakarta reflect the value and significance we place on growing our document, information and communications technology business. Mobile has a key role to play in driving that growth.”
Arifin Pranoto, AGIT Director, added: “Providing a trusted platform to deliver the next wave of innovation in banking and payments via mobile is key to our aspirations and we are delighted by the role we are playing in making that happen.”
Monitise Asia Pacific Chief Executive Darren Sugden noted that Indonesia was already a leader in the adoption of mobile and social media. “The power of the mobile to help banked and unbanked consumers manage their money on the move has never been greater and can help to re-enforce the impressive emergence of the country as a global economic power,” he said.
About Monitise Asia Pacific
Monitise Asia Pacific is a 50/50 joint venture between Monitise plc and First Eastern Mobile Investments Ltd, part of the First Eastern Investment Group, created in 2010 to develop mobile banking, payment and commerce services in the Asia Pacific region. First Eastern is a leading Hong Kong-based investment group pioneering in the field of direct investments in China founded by Victor Chu in 1988. More information is available at www.monitisegroup.com/ap
About Monitise
Monitise plc (LSE: MONI.L) is a technology and services company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets.
With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America. Monitise has strategic partnerships with Visa Inc., Visa Europe, RBS Group and FIS. Other leading partners and clients include HSBC, Lloyds Banking Group, First Direct, U.S. Bank, Standard Chartered Bank, Travelex, Vocalink, Vodafone, Orange, O2, T-Mobile, 3 UK, Research In Motion, The Carphone Warehouse, First Eastern, Astra International, JETCO and PCCW mobile. More information is available at www.monitisegroup.com
About Astra Graphia
PT Astra Graphia Tbk was established in 1976 as the leading document and ICT solution provider in Indonesia with 27 branches and 79 service points. Since 1989 the Company has been listed on the Indonesia Stock Exchange, with the majority of shares held by PT Astra International Tbk. More information is available at www.astragraphia.co.id
About Astra Graphia Information Technology (AGIT)
PT Astra Graphia Information Technology (AGIT), is an wholly owned subsidiary of PT Astra Graphia Tbk, a leading information and communication technology business in Indonesia. More information is available at www.ag-it.com
About Astra International
PT Astra International Tbk was established in 1957 as a trading company. Over the course of its development, it has formed a number of strategic alliances with leading global players. Since 1990 the Company has been listed on the Indonesia Stock Exchange, with a market capitalisation as at 31 March 2012 of Rp 299 trillion. Astra is currently engaged in six business lines: Automotive; Financial Services; Heavy Equipment and Mining; Agribusiness; Information Technology; Infrastructure and Logistics. As 29 February 2012, Astra employed over 173,043 people in 160 companies, including subsidiaries, associates and jointly controlled entities. More information is available at www.astra.co.id