"Indonesia's digital industry is still in the very early stages, however, with more than 250 million potential customers, the prospects for growth are substantial -- we are nowhere near the levels occurring in the United States," said Edwin Witarsa Ng, CEO of KinerjaPay, during the launch ceremonies for KinerjaMall in Jakarta on Tuesday, the 29th of November.
According to Antara News, the volume of e-commerce transactions in Indonesia is relatively small, representing only one to two percent of total retail transactions, as compared to the world average of approximately eight percent, and well below the high of 16 percent in South Korea or 12 percent in the United States. Antara News also reports that e-commerce in Indonesia accounted for US$12 billion in total transactions in 2014, and is forecast to reach US$24.6 billion in 2016.
KinerjaPay has a particular focus on the middle- and low-income markets, which management believes represent a largely untapped opportunity. To that end, management has developed a targeted launch strategy for KinerjaMall, including:
- a focus on everyday needs and premium, locally-produce items, included in the Company's "I Love Indonesia" program
- a manageable inventory featuring approximately 150,000 unique products supplied by a few thousand merchants
- daily, system-generated promotions to entice users to keep coming back, including free delivery and attractive discount campaigns
- an intensive marketing program designed to generate national coverage
Mr. Ng went on to say, "Our platform is very much in line with the coming release of the 14th Economic Policy Package On Digital Economy And E-Commerce, which is expected to promote the participation of small and medium enterprises in Indonesia's digital economy. We are building a comprehensive solution for Indonesian consumers looking to take advantage of the benefits associated with ecommerce. That platform now includes our digital payment solution, KinerjaPay and KinerjaMall, with additional solutions such as KinerjaGames and KinerjaTravel, expected shortly."
About KinerjaPay corp.
KinerjaPay Corp. through its wholly owned subsidiary PT Kinerja Pay Indonesia, enables consumers to "pay, play and buy" through its secure web portal and mobile applications. Based in Indonesia, the platform provides a secure payment solution as well as a growing virtual marketplace, where participants can buy and sell products and services. The Company also offers a number of in-app services that cater to mobile users, such as an eWallet, social engagement and digital entertainment related applications. KinerjaPay is also pursuing other eCommerce verticals including travel, fashion, gaming and productivity applications. The Company's services are available through its mobile applications and on its website at http://www.kinerjapay.com and http://www.kinerjamall.com. For more information, please visit http://www.kinerjapay.co
Notice Regarding Forward-Looking Statements
This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 11, 2016.
For more information, please visit our website http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this letter.
SOURCE KinerjaPay Corp.