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| 04 August 2008 | Jakarta | | Visa and Bank Mandiri Launch Visa Money
Transfer in Indonesia | | New money transfer service provides a more secure way to remit
funds while saving time and money for Visa cardholders | |
Visa and Bank Mandiri have launched Visa Money Transfer, Indonesia's first card-to-card fund transfer service. The Visa Money Transfer service will make it easier for Indonesians to send money from their Mandiri Visa Debit card to any other Indonesian Visa card.
The service will be available 24 hours a day through any of Bank Mandiri's network of more than 3,000 ATMs. Bank Mandiri ATMs are located across Indonesia including in Jakarta, Sulawesi, Sumatra and Bali.
From today, almost eight million Mandiri Visa Debit cardholders can transfer funds to any Visa cardholder in the country at any time. The recipients can then use the money transferred to their Visa card to pay for purchases or bills or withdraw cash from any Visa/PLUS ATM.
"Visa Money Transfer was designed to help address the needs of people who send or receive money across the 33 provinces of Indonesia - providing convenience and security at a reasonable cost," said Ellyana Fuad, country manager, Indonesia, Visa International. "Visa Money Transfer is easy-to-use as senders only need to remember one number and don't need to fill in forms every time they transfer funds."
Visa Money Transfer is a relatively safer means of funds transfer as compared with cash and cheques. No cash exchanges hands in the transfer as it is done electronically from one Visa card to another.
Each transaction with Mandiri Visa Money Transfer costs only Rp7,000. Transfer amounts are subject to the cardholder's available funds up to a maximum of Rp10,000,000 per day. Funds are received by recipients within two working days.
Visa Money Transfer is a practical alternative for those looking to send gifts of money to family and friends or to provide financial support to travelers and students away from home.
"Recipients also find Visa Money Transfer very convenient, as funds are received on their Visa card, wherever they are. There is no need to spend time queuing at a bank or an agent's office to send funds or collect them. Recipients can use funds for everyday spending through their Visa cards and enjoy rewards and discounts from Visa's merchants and partners," added Fuad.
Budi Sadikin, Head of Debit Card at Bank Mandiri said, "Bank Mandiri is proud to collaborate with Visa on the innovative Visa Money Transfer technology. Together, we have enabled card-to-card money transfer via ATMs for the first time in Indonesia and have made sending and receiving money across the country safer and more convenient for our cardholders."
Bank Mandiri will be running a promotion until 19 September 2008. During this period, the top 100 Visa Money Transfer users based on their transaction amount will each receive Rp1,000,000.
Indonesia is the fourth country in Asia Pacific to launch Visa Money Transfer. India was the first in the region to launch it in 2004. Visa Money Transfer was also launched as a domestic service for cardholders to transfer funds to other Visa cardholders across the country. Subsequently, Visa Money Transfer was introduced as an international remittance service in Malaysia and Singapore.
Note to editor:
How to use Mandiri Visa Money Transfer
The sender is required to know the destination Visa account number. The beneficiary bears no cost and the sender bears a nominal cost per transaction.
The process can be completed in four simple steps:
| | | 1. | Type in the beneficiary's Visa account number | | 2. | Type in the amount to be sent | | 3. | Confirm the above | | 4. | Press [submit] |
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About Visa
Visa operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries.
For more information, visit www.corporate.visa.com.
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