September 26th, 2019 – Kuala Lumpur, OneTransfer Remittance Sdn Bhd, a licensed money transfer company with 6 remittance stores across peninsular Malaysia has secured approval from Bank Negara Malaysia (BNM) to launch its Remittance App, OT Remit.
The service, which was launched on 9.9.19 in Kuala Lumpur, will “accelerate the speed and efficiency of remittances from Malaysia to Indonesia. It’s now available 24/7,365 and offers users instant money transfers at a “competitive” exchange rate, while reducing the fees typically charged by traditional remittance methods.
Indonesians make up 40 percent of Malaysia’s total foreign worker population, given its geographical proximity and the country’s status as a key regional hub for migrant workers in Southeast Asia. With the options of transferring money through OT Remit, migrant workers in Malaysia can now enjoy unparalleled convenience when it comes to making remittances at quicker speeds and lower costs.
“This is a huge milestone in helping to transform cross-border payments. The launch of OT Remit and the partnership with Truemoney and Paytren through Thunes will continue to further the reach of OT Remit’s network in Indonesia. The strategic partnership shares a common goal of democratizing the way to receive money in any way convenient to the receiver, and e-Wallet is a case in point” said Dato’ Hussian, Director and Chief Executive Officer of MobilityOne Limited
“This partnership underlines Thunes’ commitment to building a payment ecosystem that will help create more opportunities for everyone. Expanding the availability of remittance options in the Malaysia-Indonesia payment corridor was a particularly critical focus for us, given that many Indonesian workers are reliant on them to send money to their loved ones back home. With the launch of OT Remit, we are delighted to help make financial services more accessible to them” commented Thunes CEO, Steve Vickers.
Paytren, as one of the largest Fintech Payment Service Companies in Indonesia, always ensures and commits to provide the best features to help users to breakthrough their pain point. With this launch, Paytren can help Indonesian migrant workers abroad who have a need to send money to Indonesia with a cost-effective, simple and safe solution.
“This stepping stone perhaps would empower Indonesian migrant workers in Malaysia to transfer their money to their families with lower cost and ease process ever” said Ust Yusuf Mansur, President Commissioner & Founder of Paytren.\
“TrueMoney congratulates and succeeds in launching the remittance application from OT Remit. We are very pleased to work with OT Remit who has experience in the money transfer business in Malaysia. This strategic collaboration between OneTransfer Remittance Malaysia and TrueMoney Indonesia via Thunes will make it easier for Indonesians, especially those who do not have a bank account to be able to send cash to Indonesia, through TrueMoney member application. For withdrawing money, customers simply come to Alfamart or Alfamdi with a valid identity, “said Donny Erfan, Director of TrueMoney Indonesia.
About MobilityOne Limited
MobilityOne Limited boasts 15 years of experience in the Malaysian payment Industry. The company and its subsidiaries are a group of company focusing on delivering a seamless payment ecosystem at every segment of the payment value chain. Recently venturing into the Fintech space and working its way towards payment technology innovation, MobilityOne has successfully produced various payment solutions, smoothing out transaction complexities for both payor and payee.
Headquartered in Malaysia, MobilityOne Limited is listed on the London Stock Exchange since 2008 and its subsidiary MobilityOne Sdn Bhd is a MSC Status company in Malaysia.
OneTransfer helps people and businesses to transfer money fast, convenient, reliable and secure ways since 2006 while leading a revolution in the field with emphasis on service and better exchange.
It offers a combination of traditional brick and mortar outlets with presence throughout Malaysia and app-based remittance services, OT Remit.
OneTransfer is recognised as a Money Service Business that operates and regulated by Bank Negara Malaysia to carry out remittance services in Malaysia.
Paytren is a Fintech payment service company and a digital community development platform provider founded by Ust Yusuf Mansur in 2013. It’s main focus is “to drive positive change for Indonesia by empowering communities with user-centred digital use cases”. Paytren provides digital solution for communities to communicate, transact, and enable the creation of digital-based opportunities, while providing a support systems to accelerate the success of its partners.
TrueMoney offers Digital Financial Services to enable users to perform various transactions such as top up balance, bill payment, merchants payments, and fund transfer. Part of the Ascend group owned by PT WitamiTunai Mandiri, it started in Myanmar and Cambodia, and since September 2015, TrueMoney further expanded to Indonesia. TrueMoney owns an e-money license and has partnered with Bank of Indonesia for all digital Financial Services. TrueMoney is also one of the three key e-money players in Thailand with a focus on non-banking society.