NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

By Fanny Potkin

Three Indonesian digital fintech firms are working with Facebook to apply for regulatory approval to launch mobile payments in the country, an official at the financial regulator said.

The plan, if approved, could be among the first under the social media firm’s unified payment service, Facebook Pay, which it unveiled in November. Users across its various platforms, including WhatsApp and Instagram, can make payments without exiting the app.

Bank Indonesia assistant governor Filianingsih Hendarta, who heads payment system policy, told Reuters that three local firms had approached the regulator to ask about tentative approval for a payments partnership with Facebook.

Photo courtesy of lau rey.