Customers travelling to Indonesia will be able to withdraw money from BNI ATMs. Credit: Jake Allen on Unsplash.

Bank Negara Indonesia (BNI) has formed a partnership with fintech firm Cashmallow to offer cardless cash withdrawals in Indonesia.  

The service will be offered by Cashmallow’s solution MallowLink, a global surcharge-free ATM network.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Through the collaboration with BNI, Cashmallow customers travelling to Indonesia will be able to withdraw money from more than 17,000 BNI ATMs and cash pickup locations.

Customers will not be required to pay fees, such as foreign transaction fees, card brand fees, and surcharge fees for withdrawal from ATMs.

Cashmallow CEO Hyeongun Yun said: “We are excited to partner with BNI, the leading bank of Indonesia that embraces innovation to deliver an exceptional experience to customers.

“The addition of Indonesia to the MallowLink network is a major step towards our goal to provide safe, convenient, and inexpensive ways for anyone to access the world’s cash wherever and whenever.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

MallowLink is a worldwide ATM API aggregator that allows clients to provide cardless travel money withdrawal services to their customers.

Users can exchange their travel funds using the bank apps and withdraw their funds from the closest MallowLink-powered ATM.

The cardless cash withdrawal service will be available at BNI outlets in the first quarter of 2023.

Currently, Cashmallow’s services are offered in Japan and South Korea and the fintech plans to expand its network to new markets across the globe.

In January this year, media reports said that government-backed BNI plans to buy a 63.92% stake in Bank Mayora to enter the digital banking space.