BIGO Technology has launched a Singapore-Jordan Incubation Program, while Singapore-based fintech PayerMax’s Indonesian subsidiary Smart Fintech For You has bagged a payment licence from the Central Bank of Indonesia.
BIGO launches SG-Jordan incubation programme
BIGO Technology, which operates the live-streaming platform Bigo Live and short-form video app Likee, has launched a Singapore-Jordan Incubation Program.
The program aims to support Singaporean startups looking to venture into the Middle East and North Africa (MENA) region through Jordan.
Singaporean startups can receive free co-working space, use of facilities in the BIGO office for up to six months, free networking opportunities, as well as assistance in employment permits, and establishing a local presence in Jordan.
Jordan has extensive Free Trade Agreements with various locations, including Arab countries, the EU, Singapore, Turkey, and the US. BIGO established its presence in Jordan in 2019.
Founded by ex-journalist David Li and former Microsoft and Alibaba associate Jason Hu in 2015, BIGO came ahead of the boom in social commerce that was accelerated by the pandemic. The reach of its platforms has since grown to over 150 countries.
Smart Fintech For You gets payment licence
Singapore-based fintech PayerMax’s Indonesian subsidiary Smart Fintech For You has bagged a payment licence from the Central Bank of Indonesia, reported Tech In Asia.
PayerMax is headquartered in Singapore with regional head offices and operations in the UAE, Saudi Arabia, Shanghai, Malaysia, Indonesia, Philippines, Vietnam, Thailand, and Brazil.
The company offers omnichannel payment methods beyond international cards, including carrier billing, e-wallets, and branded payment solutions from the world’s most recognised banks and non-FI institutions.
PayerMax obtained a Major Payments Institution (MPI) licence from the Monetary Authority of Singapore (MAS) in January this year.