Ant Financial Taps Into Indonesia’s Vast Smartphone Market With Digital Wallet

Ant Financial Taps Into Indonesia’s Vast Smartphone Market With Digital Wallet

Tang Shihua

Date: Fri, 03/23/2018 - 13:59 / source:Yicai
Ant Financial Taps Into Indonesia’s Vast Smartphone Market With Digital Wallet
Ant Financial Taps Into Indonesia’s Vast Smartphone Market With Digital Wallet

(Yicai Global) March 23 -- Ant Financial Services Group, the financial affiliate of China’s biggest e-commerce firm Alibaba Group Holding Ltd., has released an e-wallet service in the world’s fourth-largest smartphone market, Indonesia, in partnership with it second-largest media group.

Ant Financial and PT. Elang Mahkota Teknologi Tbk (Emtek) launched Dana to offer digital payment and financial services to more than 50 million users of BBM, the second-most popular instant messaging app in the Southeast Asian country, Techweb reported. Users will be able to pay mobile and landline phone bills, utilities and social insurance contributions through the new service.

There were more than 100 million smartphone users in Indonesia as of the end of last year, ranking it fourth globally behind China, India and the United States. The Hangzhou-based fintech giant has been the driving force behind the growth of China’s digital payments market, which saw transactions worth CNY169 trillion (USD27 trillion) take place last year.

The pair, which set up a joint venture last April to develop mobile payments, will also link Dana with Indonesian e-commerce site Bukalapak and cinema ticketing platform TixID, and add additional services such as flight booking, groupbuying and in-store payments. 

Follow Yicai Global on

Keywords: ANT FINANCIAL, Alibaba, Emtek, Indonesia, Mobile Payments, Dana