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