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Facebook in talks to launch mobile payments service in Indonesia

22 aprilie 2020

If approved by country’s financial regulator, it would be among the first such service under the social media giant’s Facebook Pay application. Indonesia is one of the largest markets globally for Facebook and WhatsApp, with more than 100 million users.

Facebook Inc is preparing to apply for regulatory approval in Indonesia to launch mobile payments in partnership with three local digital fintech firms, people familiar with the matter told Reuters.

Facebook Pay allows users across the company’s various platforms, including WhatsApp and Instagram, to make payments without exiting the app.

Bank Indonesia assistant governor Filianingsih Hendarta, who heads payment system policy, told Reuters that three local firms had approached the regulator to ask about tentative approval for a payments partnership with Facebook.

“So far no one submitted the formal application. Some of them just came to discuss during the consultative meeting with BI (Bank Indonesia),” Hendarta said.

Facebook is keen to accelerate its expansion in Southeast Asia. Indonesia, home to 260 million people and the region’s largest economy, is one of the largest markets globally for Facebook and WhatsApp, with over 100 million users.

Facebook is also in separate talks to partner with Gojek (an Indonesian ride-hailing firm), which counts Alphabet’s Google and Chinese e-commerce JD.com among its backers, two sources said.

“The talks could lead either to a strategic partnership, a collaboration, or an investment,” one person with knowledge of the matter said.

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?