Number of Users Rises, Flip Focus Expands Banking Partners

Flip announced DBS Bank as its newest bank transfer partner to accommodate more users who want free transfers between banks. Apart from DBS, so far there are 15 other banks that have previously collaborated with Flip.

In an official statement, the Co-Founder & CEO of Flip Rafi Putra Arriyan said that there was an increasing public need for the availability of technology to facilitate them in conducting financial transactions online. online. on Flip, free transfer service interbank users experienced an increase of almost 100% or doubled during the pandemic, compared to before the pandemic.

“Previously, it was dominated by the use of ATMs. In addition, the pandemic has also made many people tighten their spending, so the free interbank transfer service offered by Flip can be a solution to reduce expenses," he said, last week (5/11).

In response to this increasing demand, Flip has hired DBS Bank as the newest bank partner to serve individual and business customers on Flip. By utilizing an API called DBS RAPID, it allows Flip to run the interbank transfer process smoothly and without a hitch.

DBS RAPID integrates digital processing real-time related to payments, and simplify business transactions in the DBS ecosystem. Transaction fulfillment real-time not only improves efficiency for DBS Bank's corporate customers and saves costs, but also provides experience and positions its corporate customers as market leaders in their industry.

“We always try to help our corporate customers in doing their business, one of which is Flip. DBS RAPID allows a direct connection between the Flip system and DBS, so Flip can provide instructions for transactions directly from the system without having to login to the portal internet banking, "added Head of Sales Global Transaction Services Bank DBS Indonesia Husin Hartono.

Globally, DBS RAPID's track record has been used for more than 200 case examples. Smoother and faster funds transfer is one of them, more than 6 thousand integrations with various partners for instant payment collection.

Separately, to DailySocial, Marketing & Communication Manager Flip Asriana Septari did not elaborate on the form of cooperation between the two companies, including with other connected bank partners, considering that Flip does not charge administration fees for individual customers with a nominal transfer of under Rp 5 million per day.

He only mentioned that the company always prioritizes user convenience and establishes strategic partnerships with various parties that can help make the transaction process on Flip better. "Flip is one of the companies that connects its system to the API system of Bank DBS Indonesia."

After DBS Bank, the addition of other bank partners will continue to take into account the needs of Flip users. For other plans such as considering applying for an electronic money license too DailySocial ask.

Astari only explained that the company is always trying to develop services and transaction processes that are seamless pattern because it is a priority. "Currently we are always exploring the various possibilities that exist to be able to achieve this," he concluded.

Flip uses a unique code that the user must enter when transferring to the destination account. After the transfer is successful, the code is credited to the balance e-wallet A user flip that can be used to shop for digital products, such as top up data packages, buy credit, electricity tokens, or be withdrawn to an account.

So far, the balance e-wallet refillable but its use is limited to the above activities only.