Overview

As of January 2020, WeChat Pay, a Chinese payment system platform began operations within Indonesia having managed to secure an official license from Bank Indonesia for its cooperation with PT Bank CIMB Niaga Tbk. Meanwhile, WeChat Pay’s close competitor, Alipay, is currently in the process of obtaining a license from Bank Indonesia for its cooperation with PT Bank Central Asia Tbk and is hopeful that it will be able to commence its Indonesian operations by the second quarter of 2020.[1]

In essence, both WeChat Pay and Alipay provide e-wallet services in China, as their country of origin. These e-wallet services providers are currently in the process of expanding their services to countries such as Indonesia for the convenience of their users when they are traveling to Indonesia.[2]