WhatsApp Might Launch Mobile Payments in Indonesia

WhatsApp Might Launch Mobile Payments in Indonesia

Reuters reported that they had learned of this development from anonymous sources on August 20.

These firms include ride-hailing app Go-Jek, mobile payments firm DANA that is backed by Ant Financial, and fintech firm OVO that is backed by Indonesian conglomerate Lippo Group, the agency said. According to Reuters, unlike India where WhatsApp plans to launch peer-to-peer payments services, the firm will only serve as a payments platform in Indonesia, supporting payment services via local wallets. Bank Mindri operates a digital wallet service, per the report.

The Indonesia model could become a template for WhatsApp to adopt in other emerging markets to get around regulations on foreign players creating their own digital wallets, the sources said.

"WhatsApp is in conversations with financial partners in Indonesia about payments, however the discussions are in early stages and we do not have anything further to share at this stage".

However, sources, Facebook's agreement with three payment companies will be concluded quickly said.

It's worth noting that WhatsApp's beta test for payments in India has been underway for over a year now; earlier plans to launch within a month of the beta test fell through after the company encountered regulatory hurdles surrounding local data storage.

Instant messaging provider WhatsApp is discussing the potential of launching a mobile payments service with a selection of Indonesian digital payment firms, according to Reuters.

But WhatsApp's success is posing problems for Facebook's Libra. However, Calibra will not be in India or in any country that prohibits crypto money.

The Libra block chain will be global, but will depend on supervised wallet providers to determine where they will work and will not work.

Miu is a journalism major and has been writing as a business journalist for various dailies before joining OBN. She now writes about blockchain, cryptocurrencies and business news.



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