The Crypto Times
Image default
Government News

Messaging Platform WhatsApp in Initial Talks to Introduce Digital Payments System in Indonesia

Messaging service platform WhatsApp is reportedly planning to offer digital payment services in Indonesia. To that end, the Facebook-owned firm is said to be engaged in initial talks with several digital payment companies and a state-owned banking institution. 

News told to Reuters

An anonymous source reportedly told Reuters about the development. The report claimed WhatsApp was in discussions with the state-run Bank Mandiri, Go-Jek, a transportation booking platform, fintech startup OVO, and mobile payments system DANA. 

The report claimed Bank Mandiri is already operating a digital wallet service. 

The cross-platform messaging service reportedly plans to support payments via digital wallets in Indonesia. There’s also some speculation that Facebook’s transactions in the country might be used later as the template for getting around local regulations regarding the moratorium on digital wallets from foreign organizations. 

A spokesperson from Facebook did confirm that WhatsApp was currently in talks with their financial partners in the country. However, the individual refused to give details as they’re still in the primary stages and there’s nothing substantial to share. 

Facebook Finalizing with Three Companies

However, sources claim that Facebook’s arrangement with the three payments companies are set to be finalized soon. The roll-out of these services are predicted to happen around 2020, around the same time that WhatsApp is planning to launch in India. The social media giant is said to be currently waiting for administrative approval from India before they can introduce WhatsApp-centered payments. 

It was previously announced that Facebook plans to integrate its Calibra wallet service with WhatsApp and its other platforms. Calibra would manage the social media company’s stablecoin, Libra. However, the crypto wallet service won’t be offered in India and other countries that have a ban on digital currencies.

Related posts

Twitter’s Jack Dorsey Says Hell No to Libra, Yes to Bitcoin

Viena Abdon

Study Hints at Bitcoin Adoption Steadily Growing in New Markets

Viena Abdon

New York Grants SoFi License to Provide the State with Crypto Trading Services

Viena Abdon

Blockchain-Backed Art Registry Raises $7 Million in Funding, Receives Big Boost From Spotify Investor

Viena Abdon

Iran’s Economic Commission Works out Price Structure for Crypto Miners

Viena Abdon

Poloniex Margin Lenders Lose $13.5 Million to Severe Price Crash

Viena Abdon