Singapore-based fiat-crypto gateway Alchemy Pay and Indonesian fintech firm PT Berkah Digital Pembayaran have obtained a joint licence from the Central Bank of Indonesia to operate remittances and fund transfers. Meanwhile, the Philippines-based Growsari has launched new business units SariMart and SariPay.
Alchemy Pay partners with BDPay
Singapore-based fiat-crypto gateway Alchemy Pay and Indonesian fintech firm PT Berkah Digital Pembayaran have obtained a joint licence from the central bank of Indonesia to operate remittances and fund transfers. These licences will help the companies reduce operating costs of their payment services.
Partnering with PT Berkah Digital Pembayaran’s platform BDPay will allow Alchemy Pay to explore the crypto sector in Indonesia. Berkah Digital is listed as a Payment Service Provider-License Category 3 on Bank Indonesia’s official site. Launched in 2021, BDPay enables personal transfers and corporate transfers. While Alchemy Pay is a payment gateway that connects crypto and global fiat currencies.
Growsari launches SariMart and SariPay
Philippines-based B2B ordering and store solutions platform Growsari has launched new business units SariMart, a B2B e-commerce business platform, and SariPay, a financial services platform.
SariMart aims to be the country’s largest B2B e-commerce wholesaler for neighbourhood MSMEs and will operate independently from Growsari’s platform, including partnering with other offline and online players. Maimai Madrid-Punzalan, Growsari’s Chief Growth & Marketing Officer, will lead the unit.
SariPay will be an independently run financial services company that aims to support the MSME network with working capital loans, cash management, remittances and similar products. Sandeep Bhalla will be general manager of SariPay. Bhalla, who started in the company in 2021, has served as GrowSari’s finserv lead.
Backed by Tencent and KKR, Growsari, started out as an ordering platform servicing sari–sari stores. Last year, the company raised $77.5 million in a Series C funding round led by KKR and backed by the International Finance Corporation (IFC), and Pavilion Capital of Singapore’s Temasek Group.