Payfazz, an agent-based fintech startup based in Jakarta, announced that it has invested US$30 million in Singapore-headquarted firm Xfers. As part of the combined entity, Xfers will serve as the group’s business-to-business arm and get access to Payfazz’s sizable agent network in Indonesia. […] Hendra Kwik, co-founder and chief executive officer of Payfazz, will serve as the new entity’s group CEO. […] Going forward, Payfazz and Xfers will use each other’s platforms in the markets where they operate. For instance, Payfazz will switch over from its Nicepay payment gateway to Xfers’ platform in Indonesia.
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