Instapay Technologies, a leading Southeast Asian fintech headquartered in Kuala Lumpur, Malaysia, has announced its entry into the Indonesian market in partnership with Amar Bank, a pioneer in cutting-edge digital banking solutions in Indonesia.
Through Amar Bank's Embedded Banking Innovations, this collaboration aims to enhance financial inclusion by providing seamless digital banking services and consumer lending solutions tailored to underserved communities nationwide.
Instapay Technologies focuses on financial inclusion for unbanked workers by providing accessible and convenient financial solutions. Currently, a market leader in Southeast Asia, Instapay serves thousands of workers and their employers with digital salary accounts, remittance solutions, and other financial services. Instapay aims to improve financial access and well-being for underserved communities through its technology-driven approach.
“We are excited to enter the Indonesian market. We see Indonesia as a potential market given its young population, rapid GDP growth, and move to a digital economy,” said Rajnish Kumar, Co-founder and CEO of Instapay Technologies. “As companies move away from cash payment to digital payment for their workers, our technology solutions with embedded banking powered by Amar Bank can dramatically improve the customer’s digital journey experience while reducing the cost of financial transactions. At Instapay, we want to drive financial inclusion for all, making it easier for people to manage and save money.”
“We see great promise in embedded finance, enabling us to integrate various financial services into a single platform seamlessly. At Amar Bank, we have found a partner who shares the same vision, and we like the flexibility and rapid deployment opportunities they offer. We are confident that through this partnership, we can offer banking solutions to the underbanked workers in Indonesia.” he added.
Commenting on the partnership, Vishal Tulsian, President Director of Amar Bank, said, "We are thrilled to collaborate with Instapay Technologies to enhance financial inclusion in Indonesia. Combining our digital banking expertise with Instapay's innovative solutions, we aim to provide accessible and tailored financial services to underserved customers nationwide. This partnership underscores Amar Bank's commitment to leveraging technology to bridge the financial gap.”
The partnership between Instapay Technologies and Amar Bank will leverage Amar Bank’s Embedded Banking infrastructure and expertise alongside Instapay’s advanced technology platform to provide its users with more efficient, secure, and comprehensive banking solutions.