INNOVATION AT YOUR FINGERTIPS
Updated: 09/2019
ZendMoney
Indonesia / Jakarta , Indonesia
Pitch
ZendMoney's e-wallet concept aims to give Indonesia's migrant workers more control over how their remitted money is spent.
Why
High fees, expensive rates
Transfer fees and unfavorable exchange rates mean migrant workers' families receive less than they expect.
Little control over funds
Remitted money is handled by family members and thus prone to misuse.
Market
$10.8bn
Amount of money remitted by 3.6m Indonesian migrant workers in 2018, as reported by Bank Indonesia.
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