JAKARTA (TheInsiderStories) – Hungary’ mobile transactions solutions provider Cellumʼ secure wallet platform to be unified with LinkAja e-money system, developed by PT Telekomunikasi Selular (Telkomsel), the company chief executive told the Budapest Business Journal.
János Kóka, CEO of Cellum Global at the Mobile World Congress in Barcelona said, said that unit of PT Telkom Indonesia Tbk (IDX: TLKM) strives not only to make the most of synergic advantages of electronic financial services from various state-owned enterprises, but will also extend the LinkAja ecosystem with various new features and services in the future.
As part of that ecosystem, Cellum says that it is ready to provide the transaction platform, which, in addition to the LinkAja e-money funding source, allows users to access other payment instruments like secure card data storage, fast and easy merchant integration, user management as well as further value-added services.
On Feb. 22, Telkomsel’ TCash officially changes to LinkAja, as an electric payment (e-payment). Director of PT Fintek Karya Nusantara (Finarya) Danu Wicaksana stressed that the presence of LinkAja is expected to further accelerate financial inclusion and the formation of a cashless society carried out by the government in the National Non-Cash Movement.
The central bank also has put a 49 percent limit on foreign ownership in companies that offer e-money services in a bid to better regulate such services amid growing interest in financial technology. The limit was set by central bank to all e-money issuer companies, both operating and newly handing permits.
The rules said, every company offering in electronic money services also must obtain a permit from BI. The new foreign ownership limit applies only to new investment, or to any existing firm who is changing ownership.
Based on central bank regulations, e-money businesses should secure a license from BI for various payment system service providers such as: Principal, Issuer, Acquirer, Clearing Operator and Final Settlement Operator.
by Linda Silaen, Email: email@example.com