TrueMoney Bearers Form Partnership with Ant Financial, Targeting Southeast Asia Market

Ant Financial Group companies Alipay's sponsors today announced a global blueprint for digital financial inclusion in conjunction with a strategic partnership with Thailand-based Ascend Money. Ascend Money's name may be rarely heard, in Indonesia TrueMoney Witami is a company carried by the group. Joining two players global digital finance has a vision to accelerate growth mobile lifestyle and digital financial platform in South East Asia.

Ant Financial and Ascend Money will maneuver on the growth of payment systems, both online and offline, taking advantage of the growing trend of the e-ecosystem.-commerce in the Southeast Asian region. Interestingly both of them have unquestionable experience. Alipay is one of the foundations of the giant payment system E-commerce Alibaba, which accommodates more than 450 million users. Meanwhile, Ascend Money's progress in Southeast Asia is also starting to peak.

Is this part of Alibaba's strategy to bring digital payment systems to Indonesia?

Ant Financial's strength is often demonstrated in its technological capabilities, including digital payments, big data analytics, risk control management and cloud computing (Alibaba Cloud). His partnership with Ascend Money wasn't the only time, before both of them had invest $680 million in developer startups mobile payments and commerce platforms from India, Paytm.

In Indonesia, the TrueMoney service is in the middle showing fangs. Recently, his party announced its expansion plans to several countries around Indonesia. Great potential for the electronic money market in Indonesia is also having a lot of impact in the financial sector digital-commerce. This means being a "green land" for the two big companies, Ant Financial and Ascend Money, to work on this potential.

Alibaba itself is one of the mecca of development E-commerce in the homeland. It was widely reported that the government was planning to appoint Alibaba founder Jack Ma as government economic adviser, especially for business E-commerce. That belief can of course be a pintu login various Alibaba services to login.

"Imagination, innovation and information are key to realizing Ant Financial's vision to promote equal access to financial services on a global platform [...] The (digital) payments market in Southeast Asia has untapped potential and we are dedicated to contributing, " said Ant Financial CEO Eric Jing.

Since 2014, Alipay has collaborated with several players E-commerce outside China. As of 2016 there were more than 80 thousand merchant in 70 countries have utilized the service. In Southeast Asia, Alipay's services have stopped in Thailand, Singapore, Malaysia and Vietnam. In the third quarter of this year, his party explained that there was an increase of up to four times compared to last year.