Big things are taking place for Bitcoin in Indonesia. DOKU, the country’s leading e-wallet, has joined OKLink’s blockchain payout network. As a result, this collaboration will expand OKLink’s payment availability in Indonesia, allowing for faster global transfers. A significant step forward for the recently formed blockchain money transfer network.
The partnership between DOKU and OKLink will offer a new payout option for real-time money transfers to Indonesia. Having the option of getting paid through a digital wallet brings more convenience to the table. After all, Indonesia is warming up to the concept of using electronic money as of late.
To be more precise, electronic money is reaching a significant transaction milestone. At the end of 2015, a total of US$394m was transferred across the country in electronic form. Numbers for the year 2016 are expected to be even higher, as more consumers and enterprises flock to e-money transfers.
OKLink Welcomes Strategic Partner DOKU
All of this is made possible due to the low credit card penetration in the country. With barely 6% of the entire population using a payment card, there is lots of room for other competitors. Additionally, less than one in four residents have access to a bank account. Combine all of these factors, and electronic money suddenly makes a lot of sense in Indonesia.
DOKU is one of the country’s digital wallet solutions to capitalize on this market. So far, the company has partnered with over 20,000 merchants and has ties to 15 of the country’s major banks. Their e-wallet, called DOKU Wallet, is quite flexible regarding funding. It is possible to top up an account balance through ATMs, cash, or linking a payment card. Once a balance is available for spending, users can shop online and complete bill payments with ease.
OKLink Chief Strategy Officer Jack C. Liu told the media:
“We are thrilled to work with Lukman and the entire DOKU team on this partnership. It’s eye-opening to see how quickly mobile payouts are capturing the developing market. In Indonesia, we are excited to now offer real-time mobile, cash, and account transfers to 122 banks. We continue to pursue low cost instant transfers to every payout country in every payout form.”
By partnering with OKLink, DOKU users can now access cash-in points. Additionally, the goal is to make sending money home through DOKU more attractive. Moreover, it removes the need for access to a payment card or bank account. A significant development for remittance solutions in Indonesia.
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