Samreen Ahmad · · 1 min readShopeePay links with Indonesia’s BI-Fast for faster fund transfers
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ShopeePay has announced its integration with BI-Fast, a national retail payment system infrastructure developed by Bank Indonesia. This will allow for real-time, 24/7 fund transfer services.
Starting in early April, users can register the mobile number used in their ShopeePay account as a BI-Fast proxy. This will enable them to make transactions using their mobile number instead of having to enter bank account details.
ShopeePay also offers free bank transfers 10 times a month for users who have upgraded their account to ShopeePay Plus.
BI-Fast was launched in December 2021, aiming to make bank transfers quick, affordable, and secure. ShopeePay is the first digital payment service platform to integrate with the system.
See also: How LinkAja can help Grab and Gojek fend off ShopeePay
Around this time last year, ShopeePay teamed up with 2C2P, leveraging the latter’s network of merchants and retailers in Indonesia, Malaysia, Singapore, Thailand, and the Philippines.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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