As published in Fintech Finance. 

Brankas, the leading Open Finance technology provider in Southeast Asia, announced today a strategic partnership with Southeast Asia-based payments leader, 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 Indonesia businesses to offer customers a direct debit option during the checkout process to make payments from their personal banking accounts with the aforementioned 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.

Read the full article here