Ant Financial expands to Indonesia
The Alibaba affiliate announced a joint venture with Emtek to develop financial services in the Southeast Asian nation
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.