WhatsApp in talks to launch its own digital payment service in Indonesia

Ruben Fields
August 22, 2019

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

For Indonesia, Whatsapp is said to facilitate payments through local digital wallets. The Facebook's messaging service is in talks with many Indonesian digital payment companies for providing them with the mobile transaction services in a bid to knock on the fast-growing e-commerce sector of the nation, people aware of the matter informed.

WhatsApp is in talks with multiple Indonesian digital payments firms to launch their services in Indonesia, reports Reuters.

That's not all, WhatsApp is also in talks with Bank Mandiri, a state-owned financial institution that also runs a digital wallet. Whatsapp may adopt the Indonesia business model in other emerging markets to get around regulations on foreign players creating their own digital wallets, the sources said.

A Facebook rep told Reuters that "WhatsApp is in conversations with financial partners in Indonesia about payments", but declined to go into further detail owing to the discussions being in "early stages".

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

Because WhatsApp expects to be launched in India at the same time or earlier, according to sources.

According to the report, WhatsApp's service was originally supposed to launch at the end of 2019, but this may be delayed by several months, as WhatsApp wouldn't want to launch in Indonesia before India. Calibra will host Libra, Facebook's planned stable coin.

The Libra block chain will be global, but will depend on supervised wallet providers to determine where they will work and will not work. "Calibra won't be available in US -sanctioned countries or countries that ban cryptocurrencies". She now writes about blockchain, cryptocurrencies and business news.

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