Facebook's WhatsApp plans to launch digital payment service in Indonesia
According to Cointelegraph on August 21, Facebook's communications application WhatsApp is in talks with a number of digital payment companies and a local state-owned bank in order to launch digital payment services in Indonesia.
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Reuters reported that it learned the news from an anonymous channel on August 20. According to reports, WhatsApp is currently negotiating with Indonesia's shared travel service provider Go-Jek, mobile payment provider DANA, financial technology startup OVO and Indonesian state-owned bank Mandiri. It is reported that Mandiri Bank has a digital wallet service business.
According to Reuters news, WhatsApp plans to use Indonesia's digital wallet to support the payment business in the region. The report further speculates that Facebook's transactions in Indonesia may become a common way to circumvent foreign regulations, given Indonesian regulations prohibiting the use of foreign digital wallets.
A Facebook spokesperson confirmed that WhatsApp is negotiating with Indonesian financial partners but declined to give specific details:
WhatsApp is in talks with Indonesian financial partners about payment issues, but the discussion is still in its early stages. At the moment, there is no more to disclose.
However, there is news that Facebook will soon finalize the deal with the three payment companies. However, related services are not expected to be available until 2020, as the source indicates that WhatsApp hopes to launch the same service in India at the same time or first. According to reports, Facebook is still waiting for approval from Indian regulators to launch a WhatsApp-based payment service.
WeChat + Libra?
According to reports, Facebook intends to integrate its encrypted wallet Calibra into all platforms including WhatsApp, and Calibra will hold Facebook's stable currency Libra. However, Calibra is not available in India or any other country where cryptocurrencies are banned. In April, a spokesman for Calibra commented on this:
Libra will be a global blockchain application, but the wallet custodian will decide where it operates. Calibra will not be used in countries that are subject to US sanctions or in countries that ban cryptocurrencies.