ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Alipay operator Ant Financial enters Indonesian market

Alibaba's financial affiliate forms mobile payments venture with local media conglomerate

 (placeholder image)
Ant Financial has invested heavily outside China, looking to forge a global network of online payments platforms.   © Reuters

JAKARTA -- Ant Financial Services, the payments affiliate of Chinese internet giant Alibaba Group Holding, announced Wednesday a push into Indonesia by establishing a joint venture with local media conglomerate Elang Mahkota Teknologi.

The joint venture will develop a mobile payments service for BlackBerry's BBM chat app, which still claims more than 60 million users in Indonesia. Elang Mahkota Teknologi, known locally as Emtek Group, has been developing the app to cater to the Indonesian market after striking a licensing deal with the Canadian software company in 2016.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more