Indosat Targets Temittance Segment

Indosat (ISAT IJ, BUY, TP: IDR4,800) is targeting remittance business. The company has signed an agreement with HomeSend to develop a remittance service to target 60 million Indosat’s customers in Indonesia. HomeSend is a joint venture between MasterCard, eServGlobal, and BICS that enables B2B cross-border and cross-network value transfers through a single connection. Through the agreement, HomeSend will be the first international remittance provider to give remittance service access to 24,000 location of ISAT’s Dompetku Mobile Money.