Alipay's Expansion Strategy into the Indonesian Market

By Editorial Team 22/04/2024
Alipay
Summary

Ant Group, Alibaba's financial arm, is set to operate the Alipay payment system in Indonesia. Yang Peng, Chief Executive Officer of Ant International and Senior Vice President of Ant Group, stated that they are in talks with PT Bank Mandiri (Persero) Tbk and fintech DANA to operate Alipay. "We're actively discussing with quite a few local partners," Peng said on Friday, Apr. 19.

According to Peng, their company offers a service called Alipay Plus, which is claimed to be a cross-border payment gateway solution that helps e-wallet users worldwide make QR code payments abroad. "Currently, we're present in 56 countries and have onboarded 19 million merchants," he said. Peng admitted to having discussions with the Indonesian Payment System Association and Bank Indonesia to facilitate Alipay's expansion plans.

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