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September 20, 2021

Indepay launches mobile-first transfer platform in Indonesia

Indepay has launched its mobile-first transfer platform called tara.app framework in Indonesia.

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tara.app is developed to help Indonesian MSME’s fetch new online orders and enable instant payments. It is enabled through an open platform by offering instant technology to expedite the digitisation process of merchants and brands to fuel growth.

tara.app enables merchants to have a social commerce interface powered by the Indepay Transfer Platform. The idea is backed by BEENEXT and T8 Capital Partners amid growing influence of interactive social commerce.

Particularly, the framework is based on high-end technology around open APIs integrated with banks and financial institutions.

It maps the customer’s mobile number with their bank account as a Unique Pay-ID. This facilitates account-to-account transfers and provides them with greater control over their finances.

Indepay CEO Rajib Saha said: “Higher payment and transfer fee is the major bottleneck in the development of Indonesia’s startup ecosystem.

“tara.app working alongside Indepay team in Jakarta is going to disrupt the market. The deep integration with banks and financial institutions will unlock endless possibilities for Indonesia.”

BEENEXT founder and CEO Teruhide Sato said: “We have been investing in various fintech start-ups globally and observed that the presence of digitised bank account transfers further drives the growth of the digitised economy in every country.

“Thus, we have partnered with Indepay to build the much-awaited open transfer platform in Indonesia connecting Banks, Payment Gateways, Switching, and Settlement Operators to offer an ultra-low-cost seamless transfer experience.”

In future, Indepay plans to launch tara.app in other South East Asian countries and Indian subcontinent.

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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