Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, Aug. 4 (Reuters)-TikTok is in early negotiations with regulators to obtain a payment license in Indonesia, aimed at promoting its e-commerce layout in major markets.

Earlier, Shou Zi Chew, chief executive of TikTok, announced in June that the platform would invest billions of dollars in Indonesia and other parts of Southeast Asia. According to sources, TikTok is in discussions with the Bank of Indonesia, and the App has been well received.

A spokesman for TikTok confirmed on Friday that negotiations were under way, adding that "Indonesian payment licenses will help local creators and sellers on the platform."

CTOnews.com learned from Reuters that the payment license will allow TikTok to compete more directly with Shopee of Southeast Asian e-commerce giants Sea and Lazada of Alibaba.

TikTok has 125 million monthly active users in Indonesia, the same number as in Europe and not far behind the 150 million users in the United States.

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