Facebook, Three Fintech Firms in Talks to Launch Mobile Payments Service in Indonesia

Source: South China Morning Post

Facebook is working with three Indonesian digital fintech firms to apply for regulatory approval to launch mobile payments service in the country, an official at the financial regulator said.

The plan, if approved, could be among the first such service under the social media giant’s unified payment service that was unveiled in November. 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.