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Startups

Indonesia's Bukalapak sees small shops powering digital banking

E-commerce unicorn, Standard Chartered start service for 'underbanked'

Bukalapak President Teddy Oetomo is optimistic that the Indonesian e-commerce company is well placed to compete in digital banking. (Photo by Nana Shibata) 

JAKARTA -- E-commerce company Bukalapak's close ties with Indonesia's ubiquitous small and midsize family-owned warung retail shops will be a strength in the country's increasingly competitive digital banking sector, its president told Nikkei Asia.

The company's Mitra business focuses on helping warung operators to digitalize operations. The service enables the shops, which stock a variety of daily necessities, to carry out one-stop procurement of goods with an app and also sell digital items, including phone credits and data plans.

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