JAKARTA, Feb 28 Reuters Indonesian tech firm GoTo and Chineseowned partner TikTok will be wholly compliant in a month and a half with the Southeast Asian nation39;s regulation that bans inapp transactions on social media, GoTo39;s CEO said on Wednesday.

Short video app TikTok acquired in December majority shares in GoTo39;s ecommerce unit Tokopedia after the Indonesian trade ministry banned transactions on its TikTok Shop ecommerce unit.

Integration process is going well. All parties continue to communicate with the related ministries and as far as we know the process is nearing completion, CEO Patrick Walujo said in an online briefing.

Indonesian minister for small and medium enterprises Teten Masduki said last week TikTok had yet to comply with the regulation.

TikTok, owned by Chinese company ByteDance, did not immediately respond to a request for comment. Following December39;s deal, TikTok has reopened its ecommerce services, which are now facilitated by Tokopedia.

GoTo39;s management said in the briefing that it will receive a quarterly ecommerce fee from Tokopedia, with the sum being dependent on Tokopedia39;s gross merchandise value.

Based on a GMV of 2.9 billion recorded in the third quarter of last year, the ecommerce service fee for GoTo will be 11.4 million, GoTo said.

GoTo also expects its partnership with TikTok will benefit not only its ecommerce business but also its financial services segment as it will be able to offer digital payments and buy…