Payments Firm 2C2P Partners Brankas to Bring Open Banking to Indonesiaby Fintech News Indonesia April 28, 2021
Brankas, an Indonesian open banking provider, announced a strategic partnership with payments firm 2C2P to introduce their modern open banking solution 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.
Built on the principles of open banking, the partnership allows Indonesian 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.
Since 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 funds.
The partnership extends the reach of 2C2P’s Direct Debit payment feature, enabling merchants to offer their Indonesian customers a seamless, secure and faster payment option.
Currently available in Indonesia, Brankas and 2C2P aim to bring these benefits to consumers and merchants in other markets in the region.
Todd Schweitzer CEO of Brankas said,
“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.”
Agnes Chua, Director, Business and Product Development, 2C2P said,
“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.”