Facebook in talks with Indonesia's e-payment companies for tie-up

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 63%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

JAKARTA - Facebook is fighting to get a slice of the pie in Indonesia's booming e-payment business, whose revenue is expected to grow nine-fold in the next five years in the country of 270 million people.. Read more at straitstimes.com.

JAKARTA - Facebook is fighting to get a slice of the pie in Indonesia's booming e-payment business, whose revenue is expected to grow nine-fold in the next five years in the country of 270 million people.

Indonesia, the world's fourth most populous country, has 41 companies that have an e-wallet license from Bank Indonesia. Facebook declined to disclose which of these it has approached to tie up with, but it stressed that it is keen to grow its digital payment business worldwide. Goldman Sach noted a recent rule in Indonesia that requires e-payment companies to create interoperability between one another's machine-readable QR codes, which lowers the barrier to entry for industry players.

Placing a distant fourth is LinkAja, owned by various Indonesian state-controlled companies ranging from Bank Mandiri, the country's largest telco Telkomsel, to state oil and gas company Pertamina, which operates the majority of the country's fuel stations. Facebook announced its new payment platform on Nov 12, 2019, saying it would offer the service across Facebook, Messenger, Instagram and WhatsApp.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cisco offers big payment deferrals until 2021 as companies seek remote-work toolsCisco Systems Inc on Tuesday launched a US$2.5 billion financing program that lets its customers defer 95per cent of payments until 2021, giving ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »