ALTO Network is Now Part of Djarum GroupBy Administrator | Apr 10 2019 22:44
It is no longer a secret that Djarum Group acquires ALTO Network. Since Bank Indonesia (BI) obliges the banks to connect with minimum two switching company, Djarum Group selected ALTO as a switching company for BCA.
The acquisition was officially agreed in July 2018. Djarum Group trough PT Central Capital Ventura (CCV) becomes one of the ALTO’s shareholder.
From its humble beginning, the purpose of this acquisition is to get BCA a switching company to interconnect with. BCA considers ALTO as one of the switching company who is ready to accommodate BCA’s interconnection.
By BCAs joining ALTO as member, it opens a wide opportunity for ALTO to expand its brand and business. Many finance technology companies join ALTO as new member to connect with BCA for on us transaction.
ALTO is currently in a process of partnership with several worldwide payment providers. ALTO grows bigger day by day not only domestically, but also internationally.