The e-MITRA program works to grow the active subscription base of mobile money accounts to 20 percent of mobile phone users in Indonesia by September 2016. The GBI Alliance believes that mobile money is a powerful tool that will provide improved access to financial services for the under- and unbanked population of Indonesia, while fostering more transparent, secure and convenient financial transactions.
e-MITRA’s June newsletter highlights some of the latest developments in the program’s effort to advance mobile financial services (MFS) in Indonesia.
e-MITRA Workshop – “Building the Business Case for Mobile Financial Services in Indonesia”
Over 100 registrants from more than 50 organizations participated in e-MITRA’s April workshop, where USAID representatives reiterated the agency’s support for the e-MITRA initiative and financial inclusion in Indonesia.
Bank Indonesia announced the finalization and release of the central bank’s long-awaited agent banking guidelines, which will introduce a pathway for new MFS products by allowing certain banks and/or MNOs to conduct agent banking pilots in sub-districts of selected provinces.
Global experts in mobile financial services also shared insights and lessons learned from past MFS implementations with an enthusiastic private sector audience. Experts emphasized the importance of strategy and business case development, product development, pilot approaches and long-term sustainability.
e-MITRA Signs Memorandum of Understanding with Indonesia’s Largest Bank
e-MITRA and Bank Mandiri signed a Memorandum of Understanding (MoU) in April for e-MITRA to provide technical assistance to the bank — Indonesia’s largest in terms of total assets, loans and deposits. In addition to advancing MFS strategy development and implementation, e-MITRA will provide high-level technical advisory services and facilitate the technical assistance offered from external consultants.
USAID & e-MITRA Visit MFS Pilot Deployment Site in North Bali
In order to better understand how an MFS pilot could meet cocoa farmers’ financial needs, a team from USAID and e-MITRA went to Denpasar to meet with the farmers. Thomas Jasman, Operations Director of BT Cocoa, gave the team a tour of their processing plant and discussed the potential value of adding MFS to the cocoa value chain.
e-MITRA Releases Report on MFS and Cocoa Farmers in Indonesia
Last month, we shared the USAID and e-MITRA market research report on the financial behaviors and mobile phone usage of cocoa farmers on South Sulawesi. The report reveals that the farmers are receptive to mobile technology and offers recommendations for the design of MFS based on both quantitative and qualitative results received from surveys and focus groups.
Interested in learning more about e-MITRA developments? Please contact Malith Gunasekara, Chief of Party.