Mastercard links with Indonesian Telecom firm for digital payments
Mastercard and Indosat Ooredoo Hutchison (Indosat) have formed a strategic partnership to enhance Indonesia's digital payment landscape.
Their collaboration aims to develop innovative digital solutions, empowering consumers and businesses in the digital economy while promoting financial inclusion throughout the country.
“Digital upskilling and financial inclusion, especially those in rural areas, are key to unlocking and maximising the potential of every Indonesian. With the spirit of Gotong Royong, this joint effort with Mastercard will allow us to create infinite financial solutions for accelerating the digital economy growth of Indonesia." President Director and CEO of Indosat Vikram Sinha, said.
The partnership between Indosat and Mastercard focuses on introducing scalable and secure products and solutions.
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Additionally, the collaboration aims to assist small and medium-sized enterprises (SMEs) by equipping them with advanced tools and resources to thrive in the digital-first landscape following the pandemic.
Both entities target to increase access to credit, including options such as Buy Now Pay Later (BNPL). The partnership will also prioritise enhancing the security of payment methods and developing solutions that offer improved consumer engagement and rewards.
For businesses, the partnership also hopes to drive digital payment acceptance, assist in establishing an online or digital presence, enhance access to credit, and provide additional productivity tools such as accounting and expense management solutions.