Alibaba executive chairman Jack Ma. Photo: Reuters, Ruben Sprich
Alibaba executive chairman Jack Ma. Photo: Reuters, Ruben Sprich
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Ant Financial expands to Indonesia

The Alibaba affiliate announced a joint venture with Emtek to develop financial services in the Southeast Asian nation

April 12, 2017 10:22 PM (UTC+8)

Chinese fintech company Ant Financial announced Wednesday a deal that marks the company’s first official foray into the Indonesian financial services market.

The Alibaba affiliate will partner with Indonesia’s second largest media firm, Emtek, also an investor in e-commerce player Bukalapak, reports TechCrunch.

Initially, the deal will launch a payment platform on BlackBerry-owned BBM, still the dominant instant messaging service in Indonesia. Forthcoming offerings will benefit from Emtek’s strategic assets which include two national TV networks, as well as various publishing and e-commerce platforms.

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