Telin’s CEO highlights their partnership in this video below:
We’ve partnered with Telin Malaysia, a member of Telkom Group, the largest telecommunications services company in Indonesia. Together we will empower anyone in Malaysia to send low-cost, high-speed, international remittances to Indonesia and beyond.
Soon, anyone in Malaysia will be able to cash in via Telin’s network of 30,000 dealers nationwide to remit money to friends and family in Indonesia using the Telcoin app. Data from the World Bank shows that more than 2.1 billion dollars worth of remittances were sent from Malaysia to Indonesia in 2017 – and that figure is likely to keep growing.
The average remittance from Malaysia to Indonesia costs nearly 6 percent due to fees and foreign exchange margin. With Telcoin, we’re targeting a total cost of just 1 to 2.5 percent. We look forward to sharing more developments soon!