Payments News

On The Web

nbsp; nbsp;

Deals

Grab leads series B round of up to $100m in Indonesian fintech LinkAja

“Indonesia’s fintech app LinkAja announced that it has raised up to US$100 million in a series B round led by Southeast Asian super app Grab…Commencing its commercial operations in June last year, LinkAja provides e-payment services to the middle-class segment and to micro, small, and medium enterprises (MSMEs) in Indonesia.”
nbsp;

Global

Digital Banking, Now Halal

“The average fintech startup founder faces a taxing to-do list: raise seed funding, scope out a user base, recruit talent, build something people will actually use. For the Indonesian entrepreneur, the Muslim-majority market presents an additional hurdle: build an app that is compliant with Islamic religious law, or Sharia.”
nbsp;

Deals

Payfazz gets $53 million to give more Indonesians access to financial services

“Indonesia is not only Southeast Asia’s most populated country, but also one of the world’s fastest-growing economies. But many people, especially outside of major cities, still lack access to basic financial services like bank accounts. Payfazz is one of several tech startups focused on solving that problem by finding innovative ways to give more Indonesians […]
nbsp;

Deals

Gojek Acquires Payments Startup Moka for $130 Million

“Indonesia’s ride-hailing and food-delivery giant Gojek has acquired a mobile point-of-sale startup called Moka for about $130 million, according to people familiar with the deal. Jakarta-based Moka, present in more than 100 cities across Indonesia, provides point-of-sale and payments services to owners of more than 35,000 restaurants, coffee shops and retail outlets.”
nbsp;

Companies

Facebook, Three Indonesian Firms in Early Talks for Mobile Payment Approval

“Three Indonesian digital fintech firms are working with Facebook Inc to apply for regulatory approval to launch mobile payments 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 firm’s unified payment service Facebook Pay it unveiled in November, through which […]
nbsp;

Global

Bank Indonesia Makes Push to Bring Street Vendors to World of Cashless Payments

“Bank Indonesia (BI) is holding a National QRIS Week event across Indonesia to promote cashless transactions among small businesses using its Quick Response Indonesia Standard (QRIS) code system. During the one-week event, which ends March 15, the central bank will disseminate information on the technical details of the QRIS system and the registration process for […]
nbsp;

Domains

Bank Indonesia to issue cross-border QR code payment regulation

“Bank Indonesia is preparing a cross-border regulation on QR code transactions that is expected to come into effect early next year. “The cross-border regulation is for regulating QR code transactions in rupiah made by foreign players,” a BI source said as quoted by kontan.co.id on Sunday. The unnamed source said the regulation would facilitate domestic financial institutions […]

On The Wires

nbsp; nbsp;