Indonesia
No Formal Permit Application for Alipay+ to Operate in Indonesia, Says Central Bank
Ant Group, a Chinese financial affiliate of the Alibaba Group, has not yet formally applied for a permit to operate its Alipay+ service in Indonesia, according to Filianingsih Hendarta, Deputy Governor of Bank Indonesia. According to Reuters, Hendarta clarified the
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Indonesia and Australia Partner to Improve Crypto Tax Compliance
The Indonesian Directorate General of Taxes (DGT) and the Australian Taxation Office (ATO) have entered into a Memorandum of Understanding for cryptocurrency information sharing. This agreement aims to bolster the detection and management of crypto assets potentially subject to taxation
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Securing Mobile Apps Against Malware and Phishing Attacks in Indonesia
Indonesia’s financial technology landscape is experiencing explosive growth, fueled by the rise of mobile payments and digital banking. While this digital transformation offers undeniable convenience, it also introduces new challenges to mobile security in Indonesia Malware and phishing attacks pose
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Nium Partners with Artajasa to Enhance Cross-Border Payments in Indonesia
Global payments company Nium has announced a new partnership with Artajasa, a prominent Indonesian payment infrastructure provider. This collaboration, formalised through a Memorandum of Understanding (MOU) at the Money 20/20 Asia conference in Bangkok, aims to improve real-time, cross-border payment
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Brankas Claims to Be First to Secure Open Banking Data License in Indonesia
Southeast Asian open finance platform Brankas has reportedly become the first company in Indonesia to obtain a Payment Service Provider (PJP) Category 2 license for Account Information Services (AInS) from Bank Indonesia. This license allows Brankas to offer enhanced transparency
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Tokopedia Taps Igloo to Offer Insurance Products for Consumers and MSMEs
Insurtech company Igloo has partnered with Tokopedia, Indonesia’s online marketplace, to extend the availability of insurance products to a wide audience across the country, targeting both individual consumers and over 14 million micro, small, and medium-sized enterprises (MSMEs). Igloo and
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BRImo App by Bank Rakyat Indonesia Now Has Over 30 Million Users
PT Bank Rakyat Indonesia (BRI) has announced that its mobile banking app, BRImo, has reached over 30 million users, as the bank aims to enhance financial inclusion across the country. Since its launch in 2019, BRImo has seen its user
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OJK Tightens Crypto Oversight with New Sandbox Requirement
The Indonesian Financial Services Authority (OJK) has issued a new mandate requiring all financial institutions introducing new products and services, including those related to crypto assets, to participate in a regulatory sandbox. This innovation testing and development space is aimed
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LinkAja Secures Investment from Mitsui
Indonesian e-wallet LinkAja has secured a strategic investment from Japanese trading house Mitsui & Co., Ltd. The financial details were not disclosed. This marks the first time a global company has invested in LinkAja, aiming to enhance the platform’s ecosystem
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Qoala Raises US$47M for AI-Powered Transformation and Regional Expansion
Indonesian insurtech startup Qoala has closed its Series C funding round led by PayPal Ventures and MassMutual Ventures to raise US$47 million. This brings Qoala’s total raised capital to over US$130 million. The round was also joined by MUFG Innovation
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