Luup International Ltd. plans to establish a mobile phone-based remittance service for the United Arab Emirates and Indonesia, a spokesperson for the Norway-based payments provider tells PaymentsSource. The service will enable the approximately 500,000 Indonesians in the United Arab Emirates to transfer funds home.
Luup expects to launch the service in 2010, but the spokesperson could not provide a specific date. The company will work with PT Koinstar Dhasatra Indonesia Remittance to create the service.
PT Koinstart has outlets in some 120 banks and 5,000 post offices in Indonesia, the spokesperson says.
Luup in September signed an agreement with Philippines-based Metropolitan Bank and Trust Co., or Metrobank, to provide a mobile phone-based funds-transfer service for Filipino workers in the Middle East. Users can link their mobile phones with bank accounts and, as part of the mobile application, add the name of beneficiaries and their relevant account numbers.
In the Middle East, Luup works with the National Bank of Abu Dhabi and the local arm of Deutsche Bank AG. Only customers of those banks can use the service.