Ant Financial launches mobile payments joint-venture in Indonesia with Emtek Group

12 April 2017

ant financialAnt Financial is entering into another international scale deal to expand into Indonesian mobile payments market. Alibaba’s financial subsidiary is teaming up with Indonesian Emtek Group over the launch of the joint-venture based on the country’s heavily used and downloaded messenger application BBM, operated by Emtek business unit in Indonesia.

BBM boasts 63 million active users in a month and Ant Financial has plans to bring mobile payment services to the messenger users in the framework of the joint-venture partnership with Emtek. Apart from BBM users, the new company will also be working over provision of services to ecommerce merchants and platforms in Indonesia, both over-the-top and online-to-offline.

Spokesperson for Ant Financial International notes that under the new strategic cooperation with Emtek, Ant wants to emphasize its ambitious efforts to reach as more unbanked and underbanked consumers as possible lifting the level of their lives and increasing financial inclusion.

In February Ant Financial committed the amount of 200 million US dollars into South Korean Kakao Pay, a mobile finance unit of South Korean mobile commerce business Kakao. Within the framework of the deal Ant Financial will connect its base of 34,000 merchants using Alipay to Kakao Pay platform marketing it as another payment option for shopping websites under the brand of Alibaba.

Blockchain techs
Mastercard may launch a payment system for fast cryptocurrency transactions
Banking techs
Korea digitizes mortgage and loan documents on a blockchain platform
Writing a White Paper for an ICO: expert recommendations
Show more posts...