JAKARTA – After its initial launch in Indonesia in 2020, Wise works fast in securing its first partnership with PT Bank Mandiri Tbk (BMRI) to provide easier cross-border money transfer service.

As a global remittance service provider that aims to bring its vision of “money without borders” to a more extensive scope, Wise collaborates with Bank Mandiri by inserting its API into the renowned super-app, Livin’ by Mandiri. Thus, with this digital integration, Wise will be able to help 16 million Bank Mandiri’s users in providing a fast and low-cost remittance service. “Bank Mandiri is a trusted company and has a large user base in Indonesia,” Elian Ciptono, Country Manager of Wise for Indonesia, explained the reason behind this partnership.

Regarding the target for this collaboration, Rolland Setiawan, VP Micro Segment & Remittance Solution of Bank Mandiri, aims to record transactions of up to approximately USD 1 million per day. “The current market that we serve records much higher transaction value. As it is a new product, we will set an attainable target first,” he said during the Press Conference of Wise Platform Integration with Bank Mandiri yesterday (1/3). “It will probably be equal to around 200,000 transactions per year,” he added.

Despite its recent establishment in Indonesia, Wise is actually a veteran in the international money transfer sector. It was established in 2011 and has been listed on London Stock Exchange since 2021. It has several types of products that cover personal and business needs in digital remittance activities. (ZH)