New Indonesian rule prohibits social media e-commerce payments to ensure the survival of local SMEs.
Analysts view TikTok’s payment ban as benefiting Shopee and Tokopedia, creating a less competitive market in Indonesia.
That means ByteDance Ltd’s TikTok, the only social media company that sells goods directly on its app, will need to separate the shopping feature from its popular video-scrolling service. TikTok started the shopping feature in Indonesia in 2021 and its instant success has encouraged it to expand into online retailing in other markets, including the US.
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