KUALA LUMPUR: Managepay Systems Bhd
is exploring a collaboration with PT Finnet Indonesia and Eddid Financial Holdings Ltd to explore capital markets and financial technologies opportunities in Indonesia.
In a filing with Bursa Malaysia, the group said the parties have also agreed to further determine the terms and conditions in establishing a joint venture in Indonesia.
Under the terms of the momorandum of understanding, Hong Kong-based Eddid shall market ViV, a new financial social network application, in Indonesia and by cross-linking ViV with Finnet’s flagship e-payment application (Finpay).
Finnet will have the right in Indonesia to provide cross-border remittance service to Indonesian clients of Eddid or its respective licensed entity when they open securities trading accounts with Eddid ONE, the company's flagship multi-assets trading application.
Meanwhile, Finnet shall appoint, as a partnership scheme, MPay as the agent for the payout partner (money forwarder) for outbound remittance from Indonesia to Eddid and for inbound remittance from Eddid to Indonesia.
