Partnership expands OKLink’s payment options in Indonesia for transfer companies worldwide
OKLink announces a new partnership with DOKU to offer digital wallet as a payout option for real-time money transfers to Indonesia.
Electronic money in Indonesia is booming along with e-commerce, with total transactions reaching USD 394 million last year. This is fueled by low credit card penetration (6%) and the fact that only less than a quarter (60 million out of 250 million) of the population have bank accounts.
DOKU, an Indonesian payments company, currently provides digital payment services for over 20,000 merchants with direct connection to 15 major banks in Indonesia. The DOKU Wallet, Indonesia’s first and leading e-wallet, allows consumers to top up their account via ATM, through cash at selected convenience stores, or by linking it up with their credit card. Customers can then use it to make online purchases and other bill payments – without a credit card or bank account.
Lukman Hakim, Senior Manager of Cross Border Remittance at DOKU, said, “We are very pleased to welcome our partnership with OKLink. Access to cash-in points is essential to extend our global reach. Through this partnership we hope more customers will enjoy the convenience of sending their money home via DOKU.”
OKLink allows transfer companies worldwide to send money in real-time to 122 Indonesian banks for only 0.5%, a rate that is significantly lower than incumbents. Following this partnership, companies using OKLink can now make transfers to a DOKU Wallet for remittances to Indonesia.
Jack C. Liu, Chief Strategy Officer at OKLink, said, “We are thrilled to work with Lukman and the entire DOKU team on this partnership. It’s eye-opening to see how quickly mobile payouts are capturing the developing market. In Indonesia, we are excited to now offer real-time mobile, cash, and account transfers to 122 banks. We continue to pursue low cost instant transfers to every payout country in every payout form.”
OKLink announced last month that it will subsidize all fees on the first US$100,000 of cross-border transfers for every partner on the OKLink network, up to a total of US$100 million. The initiative incentivizes money transfer companies to offer their customers the cheapest, fastest, and most transparent global remittance services.