Euronet Worldwide Implements REN Platform For PT Jalin Payment Nusantara

Melissianna D. Kriswandi, President Director, PT. Euronet Technologies Indonesia. (Photo: Special)

JAKARTA - Euronet Worldwide, a technology developer, revealed that his party will use the REN platform at PT Jalin Payment Nusantara (Jalin). Jalin itself is the largest government-owned switching network in Indonesia.

The reason Euronet implemented the REN payment platform for Jalin was to meet the project's complex requirements and large transaction volumes in transactions from ATMs, POS terminals and QR codes, activate digital wallets, and manage related back office functions such as clearing and settlement for both types of transactions and transactions. different payment types. This service will also be available through an API that can be consumed by various critical elements in the ecosystem for the implementation of newer services.

"We share the same vision as Jalin to become an 'enabler of all types of digital payments' in Indonesia and are excited to play a key role in working with them to realize this vision in Indonesia. This move is another project that demonstrates the power of technology. REN payments and how we can help banks, switches and processors around the world move towards a modern payment processing platform," said Melissianna D. Kriswandi, President Director, PT. Euronet Technologies Indonesia in a statement, Friday 3 June.

The project will be implemented in stages and will involve migrating workloads from existing systems to REN and onboarding new services such as ATM driving and digital processing of wallet-based QR code payments. The first phase of the project is the enablement of QR cross border code payments, which involves the development of inbound and outbound payment interfaces with the central infrastructure of Thailand and Malaysia.

Subsequently, the remaining services will be migrated and/or activated in the next phase over the next 12 months. This move has the potential to generate billions of transactions per year in profits due to the increasing popularity of digital payments in the region. Studies show as much as 85 percent of consumers in Southeast Asia in early 2021 have used digital payments.

"Furthermore, Euronet, as a global player, has the capacity and commitment needed to support Jalin's transformation to become a digital enabler that connects people to the financial and non-financial ecosystem while also reducing risk for all transactions and minimizing the potential for fraud. Changing people's payment behavior today this requires a very dynamic business. With Jalin's vision to become 'The National Digital Highway,' the collaboration with Euronet is a significant step forward in our journey towards that target," explained Boyke Yurista, CEO of Jalin.