JAKARTA – TikTok reports that they are seeking permission from Bank Indonesia to get a payment license in Indonesia. This move would have encouraged the Chinese company to expand into the e-commerce sector.
Quoted in between, Sunday (6/8/2023) this step was taken by TikTok even though they are currently under close supervision in the US and many other countries.
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This news comes after TikTok CEO Shou Zi Chew announced that he will invest billions of US dollars in Indonesia and other countries in the Southeast Asian region.
Two sources familiar with the plans said TikTok, owned by Chinese tech giant ByteDance, was in talks with Indonesia’s central bank and the request was being welcomed.
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A TikTok spokesperson confirmed talks were ongoing, adding that a paid license in Indonesia would help local content creators and sellers on their platform.
Additionally, the payment license allows TikTok to benefit from transaction fees and makes it directly competitive with other Southeast Asian e-commerce giants, such as Shopee and Lazada.
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TikTok has 125 million users in Indonesia per month, the same number of users in Europe and not far below the US users of 150 million users.
Douyin, a TikTok-like app owned by ByteDance, got a payment license in China in 2020. It is not known whether TikTok already has payment licenses in other countries.
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