Fintech

Ant Financial gives Dana app firepower for Indonesian payments battle

Dana CEO Vincent Iswara aims to prove ‘first-mover’ theory wrong. With backing from the Alibaba affiliate plus plans to raise more capital, his company represents a credible threat to existing players.

Indonesia is creating a standard matrix code for electronic payments. It's a powerful leg-up for startups as it will enable them to piggy-back on to the networks built at great expense by early movers such as Ovo and Go-Pay.

¬ Haymarket Media Limited. All rights reserved.

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