Pos Indonesia and Neurogine launches Neurogine nRemit
PT Pos Indonesia and Neurogine Sdn Bhd partnership launches Neurogine nRemit, simplifying cross-border remittances for Indonesians in Malaysia
January 23, 2025
Jakarta – Neurogine Sdn Bhd, an innovator in financial technology and services, and PT Pos Indonesia, the Indonesian national postal service, today announced the introduction of Neurogine nRemit, a new mobile remittance service specifically tailored to the needs of the Indonesian Migrant Worker (Pekerja Migran Indonesia or PMI) community in Malaysia.
According Neurogine Chief Executive Officer Owen Chen Chee Onn, the partnership seeks to meet the economic and social needs of the Indonesian workforce here. “A substantial portion of them send remittances regularly back home. This contributes to Indonesia's economy and improves the lives of their families,” he said, adding Neurogine was appointed by Pos Indonesia as its technology partner and remittance enablement representative in Malaysia on November 9, 2023.
Neurogine nRemit will be rolled out nationwide in three stages, starting with Sabah and Sarawak, then Kuala Lumpur, followed by Johor Bahru and Penang. “The development and testing of Neurogine nRemit was completed in 2024 and now we are ready. This function has been absorbed and now a new function in Pos Indonesia’s mobile super app called Pospay.” Neurogine has partnered with QQ Pay Sdn Bhd who will enable Neurogine nRemit transactions from Malaysia to Indonesia. QQ Pay is a Money Services Business operator licensed by Bank Negara Malaysia and complements Neurogine’s digital financial services in Malaysia.
Key stakeholders like The Embassy of the Republic of Indonesia in Kuala Lumpur, the Consulate General of Republic of Indonesia Kota Kinabalu, the Consulate General of Republic of Indonesia Kuching, the Consulate of Indonesia Tawau, Indonesian Manpower Services Association (Asosiasi Perusahaan Jasa Tenaga Kerja Indonesia), Malaysia National Association of Employment Agencies (Pertubuhan Kebangsaan Agensi Pekerjaan Swasta Malaysia) and others were briefed on this effort prior to the launch. “Support from these stakeholders are important as we roll out Neurogine nRemit,” he said.
Individual users can transfer from 20 participating banks and six digital eWallets in Malaysia to their Pospay account on their mobile phone and then remit any amount at any time. “We will also collaborate with organisations employing PMI and enable these organisations remit funds in bulk on behalf of their PMIs, from Malaysia to Indonesia,” said Chen adding remittance transactions complies with Malaysia’s Money Service Business Act 2011 and Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. “Neurogine nRemit delivers a secure, swift and cost-effective platform for both organisations and individual Indonesian workers to send money home to their loved ones.”
Pos Indonesia Chief Executive Officer Faizal Rochmad Djoemadi said the partnership is aligned with its ambitions to be a leading non-bank financial services provider in Asia Pacific by 2026. “We are transforming our business and expanding our market share. This partnership with Neurogine, the first of its kind, reflects our commitment to change,” he said. Faizal explained Pospay has evolved since it was launched in 2018. It now has more than 5 million registered users with a daily traffic of 380,000 active users.
“We want to cater the needs of more than 12 million Indonesian workers abroad, of which about 2.7 million are estimated to be in Malaysia. Indonesians can download Pospay and register even though they are abroad in Malaysia,” he said. Individual registration will require primarily the use of the 16-digit Indonesia Population Identification Number (Nombor Induk Kependudukan), which is unique to every Indonesian and the equivalent of the Malaysian Identity Card or MYKAD.
“The corridor between Malaysia and Indonesia is the second largest remittance outflow from Malaysia and the largest remittance inflow for Indonesia. This is due to the cultural and geographical proximity between both countries. It makes Malaysia a natural destination to millions of Indonesia migrant workers, with large population clusters in Kota Kinabalu, Tawau and Kuala Lumpur,” he said adding the roll-out will concentrate on the clusters. Faizal was represented by Pos Indonesia Senior Vice President (Consumer Business) Zuhed Nur at the launch, held at Pos Indonesia’s headquarters in Jakarta and attended by senior executives.
In Indonesia, state-owned enterprises (Badan Usaha Milik Negara) like Pos Indonesia play an important role in economic development and answers to the Ministry of State-Owned Enterprises (Kementerian Badan Usaha Milik Negara), the Indonesian government ministry that oversees the development of state-owned enterprises and helmed by Minister Erick Thohir.
“We are thrilled with the Pos Indonesia and Neurogine partnership. This effort reflects the social and economic intent of the Government of Indonesia helmed by President Prabowo Subianto. PMIs in Malaysia can transfer funds to their families, incurring only a fix flat fee of RM10 per transaction to pay utility bills, school fees, invest in gold or even enable cash withdrawal from Pos Indonesia agents or Automated Teller Machines. We have an extensive network of cash pickup locations across Indonesia, which is geographically six times larger than Malaysia,” added Faizal. “By providing a reliable and efficient remittance solution, we seek to improve the financial well-being of Indonesian migrant workers and their families.”
NOTE TO EDITORS
Media Contact:
This Press Release in PDF and visual assets (JPG, PNG) are available. Please direct requests to Chooi Yew Tzen at [email protected] or 012 6523811.
.jpg)
Caption
Chen: Neurogine nRemit delivers a secure, swift and cost-effectiveplatform for both organisations and individual Indonesian workers to send money home to their loved ones.
Caption
Neurogine will collaborate and enable organisations employing PMIs to remit funds in bulk on behalf of their PMIs, from Malaysia to Indonesia.
Caption
Faizal: This partnership with Neurogine is the first of its kind for Pos Indonesia, a state owned enterprise, and reflects our deep commitment to transform our operations to become a leading nonbank financial service provider in Asia Pacific.
Caption
Pospay has evolved to become a super app since it was launched in 2018. It now has more than 5 million registered users with a daily traffic of 380,000 active users.
Caption
Pos Indonesia and Neurogine has introduced Neurogine nRemit, a remittance service for use by organisations employing Indonesian Migrant Workers and individuals in Malaysia and based on Neurogine financial services technology.
ABOUT NEUROGINE: POWERING FINANCIAL INCLUSION IN ASIA PACIFIC
Neurogine is a leading financial technology company in Asia Pacific, developing innovative solutions for payment systems, financial market infrastructures (FMIs), digital financial services (DFS) and endto-end complete Decentralized Finance (DeFi) platform with tokenisation. We are passionate about driving financial inclusion, economic development, and a thriving digital economy across the region. Our Mission is to expand financial inclusion, empowering individuals and businesses to access essential financial services; foster economic development with our solutions to enable efficient and secure financial transactions, fueling regional growth; enable the digital economy by providing the technology backbone for a cashless, interconnected future; and support financial stability by promoting robust and reliable financial systems for the benefit of all.
Our Approach and Solutions
We collaborate with banks, financial institutions, and government bodies throughout Asia Pacific. Together, we build safe, reliable, and efficient domestic and cross-border payment systems, underpinned by sound FMIs. This approach helps reduce poverty and fosters shared prosperity with our solutions including Neurogine nPay, a fully integrated mobile payment solution; Neurogine nBank, a comprehensive mobile banking platform; Neurogine nCard, a tokenised mobile payment platform; Neurogine n2Tap, a PCI-compliant mobile payment software (First in Malaysia!). These solutions cater to a wide range of financial needs, including large value payment systems, securities settlement, foreign exchange settlement, retail payment systems, government payments, cross-border payments and open banking platforms.
Our Achievements:
- Global Recognition: Neurogine n2Tap received PCI MPoC Software certification in July 2024, a testament to our commitment to secure mobile payments.
- Emerging Leader: We were identified as an "Emerging Giant in Asia Pacific" by KPMG-HSBC in 2022 for our mobile technology expertise.
- Innovation Hub: We actively participate in programs like the Malaysian Digital Economy Corporation's Founders Centre of Excellence, fostering a culture of innovation.
Our Commitment:
We are a responsible corporate citizen. We are:
- Investing in the future: We collaborate with Universiti Malaysia Sabah to develop the next generation of tech talent.
- Promoting biodiversity education:: We actively contribute to organisations like Labuan Chamber of Commerce, promoting Labuan as a regional hub for digital finance, and environmental conservation initiatives by supporting Gilwell Scouts Nature Park Sandakan, the first environmental educational centre in Malaysia, accredited by World Organization of the Scout Movement as a Scout Centre of Excellence for Nature, Environment and Sustainability, as its first corporate supporter and Pertubuhan Pemuliharaan Biodiversiti Seratu Aatai Sabah, dedicated to protect biodiversity and protect the highly endangered Bornean Elephants in Sabah, as its first corporate partner.
- Aligned with UN SDGs: We support United Nations Sustainable Development Goals (SDG), specifically Goals 8: Decent Work & Economic Growth, Goals 9: Industry, Innovation and Infrastructure, Goal 13: Climate Action and Goal 15: Life on Land, focusing on decent work, innovation, responsible consumption, and biodiversity preservation.
Join us in building a more inclusive and prosperous Asia Pacific!
ABOUT PT POS INDONESIA: BUILDING A MORE COMPETITVE & PROSPEROUS NATION
PT Pos Indonesia (Persero) is an Indonesian state-owned enterprise that operates as a public service company and a profit-oriented business entity. We have constantly evolved since our inception in 1746. Starting from Post, Telegraph and Telephone or PTT services whose primary function is to serve and provide services to the public, we have constantly met to address changing social and economic needs until our current status.
Purpose
Build a more competitive and prosperous nation.
Vision
Become the most competitive postal operator, courier and financial services provider.
Mission
Act effectively to achieve the best performance.
Our Core Business
- Mail and package delivery services and logistics;
- Financial services;
- Supporting information technology, retail and property businesses.
Our products and services include:
- Courier Services: Pos Aja
- Logistics Services: Stend, Super Kargo, STORI
- Financial Services: Pospay, Pospay Aggregator, Pospay Agent
- Properties/ Hospitality: POIN Phila Hotel, Point Homy Co-Living Space, Point Arena Gaming House, PointLab Co-Working Space
- Ancillary Services: ULBI, Dapenpos, YPBP, Dapensi Trio Usaha, Dwikarya
We have grown rapidly in the field of Indonesian postage services with a wide reach, supported by our vast network infrastructure, enabling us to connect and physically serve more than 58,700 service points, reaching 100 percent of cities/ regencies, nearly 100 percent of sub-districts, 42 percent of villages/ villages and 940 remote transmigration locations in Indonesia, organised in six regions:
- Regional 1: domiciled in Medan, overseeing the island of Sumatra.
- Regional 2: domiciled in Jakarta in charge of DKI Jakarta, Debotabek, and Banten Province.
- Regional 3: domiciled in Bandung in charge of the western province minus Debotabek area
- Regional 4: domiciled in Semarang in charge of Central Java Province and Yogyakarta Province
- Regional 5 : domiciled in Surabaya in charge of the provinces of East Java, Bali, NTB, and NTT'
- Regional 6: domiciled in Makassar in charge of the island of Kalimantan, Sulawesi, and Papua.
Along with the development of information, communication and technology, our network has 4,800 post offices with broadband Internet access and mobile broadband posts in major cities, with every post office connected and integrated to each other. We are expanding our service area beyond our domestic market to an international market.
Board of Directors
- President Director: Faizal Rochmand Djoemadi
- Director of Finance and Risk Management: Endy Pattia Rahmadi Abdurrahman
- Director of Courier and Logistics Business: Tonggo Marbun
- Director of Operations and Digital Services: Hariadi
- Financial Servcies Business Director: Haris
- Director of Human Capital Management: Asih Kuniasari Komar
- Director of Business Development and Portfolio Management: Prasabri Pesti