Western Union and Bank Rakyat Indonesia (BRI) have inked a partnership that will enable people to receive international money transfers through BRI’s branch network across Indonesia.
Initially, customers will be able to receive money at 4,000 BRI locations. Full access to BRI’s more than 8,000 locations is expected to be available in the coming months.
Additionally, Western Union plans to leverage this partnership with BRI to launch outbound money transfer services from Indonesia later this year.
The company said its customers will be able to send money to Indonesia using digital services in 75 countries and territories, or through its retail agent network worldwide.
Western Union head of network for Singapore, Indonesia, and North Asia K. Premmananth noted that the collaboration with BRI supports the company’s strategy to forge new partnerships across multiple sectors to reach urban, remote and rural geographies together.
Premmananth added: “Our global network’s expansive scale and scope across more than 200 countries and territories demonstrates our expertise at navigating the cross-border money transfer complexities and transforming that into a seamless experience for customers receiving money from their family and loves ones worldwide. We look forward to a successful collaboration with BRI.”
BRI senior executive vice-president Treasury & Global Services Listiarini Dewajanti added: “BRI more than 9 thousand outlets reaching the archipelago in Indonesia. It means we have the largest bank network spread around the country. We are constantly looking for new ways to give customers value and are very pleased about this collaboration with Western Union.”
According to World Bank, Indonesia was of the leading remittance recipients in the East Asia and Pacific Region during last year.
At present, Western Union offers its services in the country through a network of Agent locations.
In January this year, the company expanded its presence in the South Korean market by partnering with investment and securities firm NH Investment & Securities.