WhatsApp is reportedly in talks with numerous payments platform firms with the intention of launching a digital payment service in Indonesia.
According to Reuters, sources familiar with the matter have said that the Facebook-owned social messaging platform is hoping to crack into Indonesia’s budding e-commerce sector. The sources say that Whatsapp is in advanced conversation with digital payments firms such as ride hailer Go-Jek, mobile payments firm DANA, backed by China’s Ant Financial, and startup Lippo-Group owned OVO.
The deals with these companies, according to the source, will be finalised soon.
The report also explained that any payments service to be launched would act only on a local basis currently owing to national law in place.
“WhatsApp will simply serve as a platform in Indonesia supporting payments via local digital wallets due to tough licensing regulations“.
A Facebook spokesperson confirmed the details with Reuters, but followed to say that the discussions are only in their early stages and no further details can be added right now:
“As Mark has said earlier this year… we are looking to bring digital payments to more countries,” adding that “WhatsApp is in conversations with financial partners in Indonesia about payments, however the discussions are in early stages and we do not have anything further to share at this stage.”
When can we expect Whatsapp payments?
As per Reuters’ report, the service was initially planned for the end of this year, but the launch has been delayed. This is because the social messaging platform does not want to launch in Indonesia before launching payment services in India.
Furthermore, a source said that the company would also need acceptance from regulator Bank Indonesia first.