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Mizuho to invest $130m in Indonesian buy now, pay later service

Deferred payments popular among consumers lacking credit cards and bank accounts

Mizuho also has invested in Vietnam's M-Service, operator of the popular payment app MoMo, and Philippine digital-only bank Tonik.   © Reuters

TOKYO -- Japan's Mizuho Financial Group will invest about 17 billion yen ($128 million) in an Indonesian deferred payment business as it seeks to capture demand in a country where few people have credit cards.

Mizuho Bank will purchase preferred shares from Kredivo for a stake of around 10%. 

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