Whatsapp is Close to Launching Digital Payments in Indonesia

Whatsapp, the Facebook-owned messaging platform has been engaging in preliminary talks with multiple Fintech establishments to launch digital payments in Indonesia.

The digital payment system by Whatsapp could become the second country globally where it will be launched, as reported by Reuters. Facebook’s dealings with digital wallets could become a template for Whatsapp to adopt in other emerging markets to get around Indonesia’s regulations regarding foreign companies.   

Collaboration discussions are currently taking place with transportation booking service Go-Jek, Ant Financial backed DANA, Lippo Group and Grab backed Fintech startup OVO as well as the state-owned Bank Mandiri.   

Indonesia is currently one of the top five markets globally for Whatsapp, with India being the top country on the list. The launch of the digital payment system will be expected in 2020, at the same time or after Whatsapp Pay in India has been launched.  

Facebook is currently still waiting for regulatory approval from India before they can launch digital payment systems through Whatsapp, and approval from the regulators in Indonesia is needed before proceeding with the launch.