JAKARTA, Indonesia, September 13, 2018 /PRNewswire/ --
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, ("KinerjaPay" or the "Company"), today announced that a new company called PT. Kinerja Simpan Pinjam has been officially registered and will manage KFUND brand as a peer-to-peer (P2P) lending platform that focuses on micro-lending activities.
KFUND will mainly target consumer sectors to provide micro lending facilities in the range of $100 to $1,000 on biweekly or monthly term loans. As facilitator of the lending facility, the Company will earn up to 5% of the fee from an estimated 1,000 transactions for the few months after its launch. The Company's platform will also enable individuals to secure loans with investors to lend their own money at a mutually agreed upon interest rates. Individuals interested in borrowing money submit their funding needs through KPAY apps, which investors can then evaluate if applicants meet their specific lending criteria.
The first step will be initiated by giving loans to the first 1000 selected individuals with a value of $200 per person which will be used as initial capital to open a mini KPOP Store. The main target market is people in the lower-class economy who are not familiar with the banking system or so called unbankable population. Most of these borrowers are in Java Island, Bali Island and few on Sumatra Island. KPAY will fully support for the growth of these new mini KPOP Stores that is owned and operated by the community, so it can bring something beneficial for the people who run it to at least have an additional income equal to employee minimum wage in the area.
Edwin Witarsa Ng, Chairman and CEO of KinerjaPay Corp. commented, "We always think on how all of our business services can be connected and useful to one another, KFUND is one of the answers to our innovations. KFUND will not only bring thousands of transactions to the Company and billions of Rupiah to our Company's business volume, but it will also bring the Company's subsidiary to become the main supplier for the mini KPOP Store.
KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides easy and convenient payment solution while shopping online at its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at http://www.kinerjapay.com.
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.