South Korea and Indonesia plan to launch a cross-border QR-code payment service in April, allowing visitors to pay at merchants in either country using their domestic QR payment apps, Indonesia’s central bank said. The planned linkage underscores how central banks are increasingly treating retail payments… Read More
Read more in: Fintech, Asia | Tagged indonesia, qr payments, south korea
Payoneer this week announced the expansion of its global payment platform with new collection capabilities in Indonesia and enhanced local collection services in Mexico. These additions enable customers to transact and receive funds from local buyers and e-commerce platforms faster and more cost-effectively. Payoneer empowers SMBs… Read More
Read more in: Asia, Fintech, Global | Tagged Derek Green, e-commerce, indonesia, mexico, payoneer
PT Valbury Asia Futures, an Indonesian brokerage, has rolled out trading in U.S. stocks through a strategic alliance with Alpaca, a provider of brokerage technology. This development, announced earlier this week, aims to bridge the gap for local investors seeking exposure to one of the… Read More
Read more in: Asia, Fintech, Investment Platforms and Marketplaces | Tagged alpaca, indonesia, investing, southeast asia, trading
Outstanding debt in Indonesia’s online lending industry climbed to 92.92 trillion rupiah ($5.6 billion) in October, the Financial Services Authority (OJK) said, as growth accelerated while credit quality held broadly steady. The regulator said online-loan balances rose 23.86% from a year earlier, picking up from… Read More
Read more in: Asia | Tagged digital lending, indonesia, Online Loan
Airwallex, a global enabler of business banking products, has recently announced that it acquired majority ownership of PT Skye Sab Indonesia, a PJP (Penyedia Jasa Pembayaran) Category 1 license holder. The acquisition allows Indonesian merchants aiming to expand overseas “to tap into Airwallex’s financial infrastructure.”… Read More
Read more in: Asia, Fintech | Tagged airwallex, apac, indonesia, payments, southeast asia
Robinhood (NASDAQ: HOOD) reportedly entered into agreements in order to acquire Indonesian brokerage PT Buana Capital Sekuritas as well as licensed digital asset trader PT Pedagang Aset Kripto. According to the latest announcement, the recent acquisitions will now officially mark Robinhood’s entry into Indonesia, accelerating… Read More
Read more in: Asia, Fintech, Investment Platforms and Marketplaces | Tagged acquisition, indonesia, investing, robinhood, trading
UnionPay International (UPI) has initiated a pilot program for cross-border QR code payments between China and Indonesia. This project aims to streamline digital transactions, fostering stronger economic ties between the two nations by enabling seamless payments for travelers and merchants. The pilot, currently in a… Read More
Read more in: Fintech, Asia | Tagged alipay, china, indonesia, payments, unionpay
Indonesia’s Financial Services Authority (OJK) said online lending volumes climbed 22.01% year-on-year in July, even as it tightened enforcement across the financing sector with fresh sanctions on dozens of institutions. Total peer-to-peer (P2P) loan disbursements reached Rp84.5 trillion ($5.3 billion) in July, up from Rp83.5… Read More
Read more in: Asia | Tagged indonesia, ojk, online lending
Amartha, an Indonesia-based platform for entrepreneurs, announced it has secured a digital wallet license from Bank Indonesia and transformed into Amartha Financial Group. The company is expanding beyond microloans into digital payments, micro-investments, and other financial services for Indonesia’s rural economy, which employs over 40… Read More
Read more in: Fintech, Asia | Tagged amartha, digital wallet, indonesia
Stablecoin USDT issuer Tether continues to positively impact the web3 and blockchain industry with two significant developments announced recently. The company has expanded access to its gold-backed stablecoin, Tether Gold (XAU₮), by listing it on Mobee, a regulated digital asset exchange in Indonesia, while also… Read More
Read more in: Blockchain & Digital Assets, Asia, Global | Tagged crypto-assets, indonesia, stablecoins, tether, usdt
Danantara Indonesia said it has signed a memorandum of understanding with the Japan Bank for International Cooperation (JBIC) to develop and finance projects that support Indonesia’s shift toward a green and digitally connected economy. Under the agreement, Danantara Indonesia and JBIC will jointly identify and… Read More
Read more in: Asia | Tagged Danantara Indonesia, indonesia, japan, JBIC
GoTo Group, Indonesia’s largest digital ecosystem, has completed the migration of its digital finance arm GoTo Financial’s infrastructure to Alibaba Cloud’s local data centers in Jakarta. The move marks a critical milestone in a strategic partnership formed in 2024 and is one of the most… Read More
Read more in: Asia, Fintech | Tagged alibaba, cloud, Goto, indonesia
Google Cloud has unveiled a comprehensive suite of artificial intelligence (AI) initiatives aimed at accelerating Indonesia’s digital economy in support of the government’s Indonesia Emas 2045 vision. The move comes alongside the expansion of Google Cloud’s Jakarta region infrastructure to meet rising demand for enterprise-grade… Read More
Read more in: Artificial Intelligence, Asia | Tagged google cloud, indonesia
Development finance institutions Swedfund, Finnfund, and the Belgian Investment Company for Developing Countries (BIO) have jointly committed $55 million in loans to Indonesian microfinance platform Amartha, the groups said in a joint statement. The financing is part of a broader syndicated facility of up to… Read More
Read more in: Fintech, Asia, Global | Tagged amartha, Finnfund, indonesia, Swedfund
Indonesia’s antitrust regulator has launched preliminary tribunal proceedings against 97 online lending startups over suspected cartel practices involving daily interest rate caps, Indonesian news site Katadata reported. The Indonesia Competition Commission (KPPU) said the investigation revealed indications of a coordinated agreement among peer-to-peer (P2P) lenders… Read More
Read more in: Asia, Fintech | Tagged digital lending, indonesia, online lending
Skor Technologies, the Indonesian parent company of credit-education platform Skorlife and the Skorcard digital-first credit card, has raised $6.2 million in a pre Series-A funding round led by Southeast Asia-focused Argor Capital. The round also saw participation from existing backers QED Investors and Saison Capital,… Read More
Read more in: Fintech, Asia | Tagged digital lending, indonesia, Online Credit, Skor Technologies, Skorcard, Skorlife
Malaysia-based private equity firm Creador has acquired a controlling stake in Indonesia-based B2B hospitality marketplace MG Group from Indonesia Northstar and other shareholders, marking its entry into the global travel industry. The acquisition highlights Creador’s focus on Southeast Asia’s rapidly recovering travel sector, driven by… Read More
Read more in: Asia | Tagged Creador, indonesia, malaysia, MG Group
Indonesia-based real estate marketplace Lamudi, a subsidiary of Australia’s Digital Classifieds Group, announced the acquisition of Ideal, a Fintech aggregator specializing in mortgage products in Indonesia. This strategic move aims to integrate mortgage facilitation into Lamudi’s platform, offering a more comprehensive solution for property buyers… Read More
Read more in: Fintech, Asia | Tagged acquisition, ideal, indonesia, Lamudi, mortgages
Indonesia’s Financial Services Authority (OJK) has officially revoked the business license of peer-to-peer (P2P) lending platform PT Investree Radhika Jaya (Investree), citing the company’s failure to comply with minimum equity requirements and other regulatory standards. The decision marks a significant crackdown by OJK on financial… Read More
Read more in: Investment Platforms and Marketplaces, Asia | Tagged indonesia, investree, p2p lending
Nium, the global infrastructure for real-time cross-border payments, is pleased to announce a partnership with Bank Rakyat Indonesia (BRI) in order to offer Indonesian customers with real-time international money transfer capabilities. This collaboration aims to streamline the various cross-border offerings for BRI’s individual and corporate… Read More
Read more in: Fintech, Asia | Tagged indonesia, nium, payments
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