Brankas and 2C2P Bringing Open Banking To Indonesia
(28 April 2021 – Indonesia) Brankas, an Indonesian open banking provider, has announced a strategic partnership with payment company 2C2P to bring open banking solutions to Indonesia.
Through Brankas‘ API integration, customers of 2C2P’s merchants will be directly connected to major Indonesian banks including Bank Central Asia (BCA), Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia.
This partnership allows Indonesia businesses to offer customers a direct debit option during the checkout process to make payments from their personal banking accounts with the afore-mentioned banks immediately. As the payment is authenticated directly between the consumer and the bank, merchants can avoid higher transaction costs, and chargebacks generated due to fraud or an inability to capture fund.
"Both Brankas and 2C2P share a vision to simplify payments technology and provide new digital experiences for Southeast Asian merchants and consumers. Together, we can accelerate Open Banking, increase access, and empower the next generation of Southeast Asian entrepreneurs," said Brankas CEO Todd Schweitzer.
"We are excited to work with Brankas and harness the potential of their open banking API service through our Direct Debit payment feature. Open collaboration is key to the development of new and innovative payment solutions that will equip our merchants with the tools to unlock greater efficiency and drive business growth," said 2C2P Business and Product Development Director Agnes Chua.