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Will Legally Entering Indonesia in 2020, What is Exactly WeChat and Alipay?

Fintech, a well-known payment from China, WeChat and Alipay, will legally enter Indonesia in 2020.Then, what exactly is WeChat and Alipay?

Will Legally Entering Indonesia in 2020, What is Exactly WeChat and Alipay?
kompas.com
Illustration of Alipay 

TRIBUNBATAM.id - Fintech, a well-known payment from China, WeChat and Alipay, will legally enter Indonesia in 2020.

PT Bank Central Asia Tbk is an acquirer (service provider) that works with Alipay and WeChat to provide EDC (Electronic Data Capture) machines for each service using both digital payment channels.

Then, what exactly is WeChat and Alipay?

Both are giant digital payment systems used by almost 93 percent of users of digital financial services in China.

Alipay itself is a payment system owned by giant e-commerce from China, Alibaba. 

Quoted from Techgenix, Alipay was originally an escrow system on an online shopping site from China, Taobao.

Until then, Alipay continues to grow and its users increasingly benefit from making transactions.

It is difficult to find an equivalent comparison to be juxtaposed with Alipay and Wechat.

Illegal Fintech Servers Are Abroad, Now Become A Problem

Both can be said to be social networking systems like Facebook, which provides short message services, like WhatsApp, as well as other services such as PayPal, even Uber messaging services in one application. 

China is now the largest e-commerce market in the world. They account for more than 40 percent of the value of e-commerce transactions worldwide.

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Penulis: Lia Sisvita Dinatri
Editor: Lia Sisvita Dinatri
Sumber: Kompas.com
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