JAKARTA, Indonesia, May 31, 2016 /PRNewswire/ --
KinnerjaPay Corp., (OTCQB: KPAY), a digital payment and ecommerce platform, today announced that it has partnered with Bitcoin Indonesia to accept the bitcoin currency for transactions conducted on its platform.
The partnership makes KinerjaPay the first ecommerce portal in Indonesia authorized to accept and transact Bitcoin across its platform, essentially enabling Bitcoin owners to convert the virtual currency to Indonesian Rupiah to pay their bills, transfer money, or make purchases in the Company's ecommerce market.
Under the agreement, members of Bitcoin Indonesia will also get special promotions and discounts for use at KinerjaPay ecommerce platform. KinerjaPay also plans to introduce its own mining concept, allowing users to "mine" the virtual currency, which may eventually be converted into a cryptocurrency.
Edwin Ng, Chairman and CEO for KinerjaPay Corp. commented, "This partnership enables us establish relationships with Bitcoin Indonesia's membership, currently in excess of 150,000 accounts, which we expect will boost the volume of transactions on our platform going forward."
Mr. Ng went on to say, "We are also working to create a unique bitcoin mining element on our platform, something we believe will be very appealing to our users and will provide KinerjaPay with a real competitive advantage in the ecommerce sector."
KinerjaPay enables consumers to "pay, play and shop" 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.
Bitcoin is a consensus network that provides a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence. Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai who suggested the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority.
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.
SOURCE KinerjaPay Corp.