Indonesian FinTech Flip Now Serves Transfers to 40 Countries

TheIndonesia.id - Financial technology company Flip through its business-to-business (B2B) service, namely Flip for Business, has provided remittance services for business owners by increasing the number of destination countries for money transfers abroad to more than 40 countries.

"Flip for Business comes with the International Transfer feature to meet the company's international transfer needs to more than 40 countries," said VP Enterprise Growth & Business Development of Flip Henri Halim in an official statement received by Antara in Jakarta, Wednesday, August 3, 2022.

Previously, Flip for Business users could only transfer money to seven countries. The destination countries for the new money transfers include the United Kingdom, Australia, Japan, Turkey, China, and South Korea.

Through B2B services, Flip also supports the government's efforts to digitize money transfers abroad in line with one of the priority agendas of the G20 Presidency, related to the development of cross-border payments. “Now, digitizing the payment system has become an important thing. Flip as one of Indonesia's fintech companies also supports the government's efforts to digitize finances, particularly corporate remittance activities," said Halim.

In line with the government's goal of minimizing overseas transfer fees, the company said the International Transfer feature on Flip for Business applies a per-transaction fee without any hidden fees so that the remittance rate is more competitive than other overseas remittance services. In addition, according to the company, the International Transfer service on Flip for Business processes transactions more efficiently than conventional services.

For information, Flip for Business offers three main services, namely Money Transfer (domestic money transfer), Accept Payment (accept payment), and International Transfer (international transfer). Flip for Business is now also providing a seven-day free trial of the Money Transfer (domestic money transfer) feature to make it easier for companies to transition to digital-based transaction management.

Flip says hundreds of business owners have trusted using Flip for Business so far this year. Halim hopes that his company can help more companies and business owners in Indonesia through B2B financial solutions, both for domestic and overseas money transfers. "Through this initiative, we hope to help financial transactions for all segments of society," he said.