ASEAN-BAC Supporting Digital Payment Transformation

Antara News are reporting that the ASEAN-Business Advisory Council (BAC) is fostering partnerships with a Peer-to-Peer (P2P) lending platform and the Indonesian Joint Funding Fintech Association (AFPI) to support digital payment transformation.

ASEAN-BAC Chairperson Arsjad Rasjid said in a statement received by Antara News that “ASEAN-BAC has five priorities for resolving issues related to the economy and trade, which include promoting digital payment methods.”

He also praised AFPI and P2P lending platform AdaKami for their efforts to provide easier access to financing to Micro, Small, and Medium Enterprises (MSMEs) in all countries from the Association of Southeast Asian Nations (ASEAN.) Indonesia is currently chairing the grouping.

ASEAN-BAC invited AFPI and AdaKami to participate in its roadshow activities in Beijing and Shanghai, China, from July 25 – 27, 2023, with the objective of increasing the influx of investment to ASEAN countries, report Antara News.

The tripartite delegation visited Shanghai on July 26 to meet with several companies, including Finvolution Group, to explore digital financial cooperation opportunities.

During the meeting, ASEAN-BAC invited representatives from the company to attend the 43rd ASEAN Summit, which is scheduled to take place in Jakarta from September 5 – 7 this year.

Antara News report that ASEAN-BAC Vice Chairperson Bernardino Moningka Vega, who is also president director of AdaKami, lauded ASEAN-BAC for its concern for the development of the P2P industry, as evidenced by its willingness to involve a P2P lending actor in an ASEAN activity.

“We believe that AdaKami’s participation in ASEAN-BAC’s roadshow will promote intercultural innovations to enable business sector ASEAN to navigate the complexity of digital transformation in a more effective manner,” he said.

He added that the roadshow aimed to expand collaboration and push for more inclusive and sustainable economic growth.

Meanwhile, Suni Widyatmoko, secretary general of AFPI, expressed the hope that investment in financial technology will help Indonesia’s P2P lending industry develop and contribute to further developing financial technology itself, say Antara News.

“Stakeholders need to continue intensifying efforts for realizing equitable development in financial technology and creating a more inclusive and sustainable economy,” he said. 

Source: Antara News

Photo by Jonas Leupe on Unsplash

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