TransferWise Users Can Send Money from Overseas to Dana, Gopay, and Ovo Akun Accounts

TransferWise, a remittance startup based in Europe is said to have started processing international payments to several e-wallet Indonesia, Philippines and Bangladesh. Quoted from Reuters, this step was taken to widen the reach of payment receipts and become the company's seriousness in entering the Asian market.

Beyond that, the biggest consideration may be due to the widespread use of the application e-wallet in the area, at the same time there are still many groups unbanked in the targeted developing countries.

"This is an acknowledgment that maybe in the future we will see a wallet that is the same as a bank account," explained the CEO  TransferWise Kristo Karmann.

For Indonesia, TransferWise users can send money to Gopay, Ovo, and Dana. The three of them are currently in the ranks market leader for digital payment applications in Indonesia thanks to the integration and collaboration carried out with many services.

Meanwhile, for the Philippines, TransferWise users can make payments to the GCash service, which is also supported by Ant Financial and PayMaya. And for Bangladesh it allows its users to submit to BKash.

The process is still one-way, application e-wallet it can only accept remittances from outside. Meanwhile, it is not possible to transfer money.

Details of shipping costs and maximum funds have not been informed yet. However, if you look at the limitations that exist in Bank Indonesia rules about e-money, the maximum stored value is 10 million Rupiah, with a maximum monthly transaction of 20 million Rupiah.

In Indonesia, the remittance service itself is regulated by Bank Indonesia. Each player who will present the related service is obliged to obtain a license from the authority. So far, there are several players who offer money transfer solutions abroad, one of which is Top Remit.