XM -Blog

We’ve Got Indonesia Covered

October 8th, 2015

Remittances to Indonesia

Indonesia – an archipelago nation made up of thousands of islands -that is rich in culture, natural beauty and resources. With a 255 million strong population, it is also the fourth most populous country in the world. However, the country has been witnessing a growing trend of international migration as people move overseas to greener pastures in search of work. While this phenomena is not new, it has accelerated since 1997, with an increasing number of Indonesian women migrating abroad in search of job opportunities. Between 2000 and 2003, 79% of outbound labour from Indonesia was made up of women . Primarily employed in the non-formal sector, most of these women work as domestic help in the foreign countries, with their preferred destination being Malaysia, Singapore and the Middle East, particularly Saudi Arabia.

In the wake of this female migration, families and children are left back home to continue with their lives. Their sustenance is supported ably by the regular financial help coming in, as remittances sent by these women month on month. Latest estimates published by Bank Indonesia suggest that the country has received $2384 million in the second quarter of 2015, which is a 12.3% increase since the same period, last year.

Being a geographically spread out nation, with the multitude of islands, receiving remittances in the country is not always easy due to the travel logistics involved. This makes it very important for money transfer operators to be present in the far corners of Indonesia to make receiving money sent from abroad, easy.

With our brand promise – providing peace of mind to customers – as our goal, the team at Xpress Money has been working hard, these past few years, to increase our footprint in Indonesia. Recently, we have made our services available across 4000 locations of PT POS in Indonesia, through our partners BCA.

Talking about the network expansion, Sudhesh Giriyan , COO – Xpress Money, said “We are trying to make receiving money transfers easy for the beneficiaries, as we understand the everyday struggles they have to face. It also helps the remittance sender, as they are reassured that their loved ones will not be inconvenienced while receiving the hard earned money they send.”

With this tie up, Xpress Money services are now available across 13,000 locations in Indonesia.