JAKARTA, Indonesia, April 10, 2017 /PRNewswire/ --
KinerjaPay Corp.,(OTCQB: KPAY), a digital payment and ecommerce platform, ("KinerjaPay" or the "Company") announced that consumers can now use its platform to make payments to state-run Pegadaian, the largest provider of fiduciary services and credit across Indonesia. The relationship facilitates Pegadaian's collections capabilities and is expected to result in a meaningful reduction in their infrastructure needs.
Pegadaian has long history in Indonesia, beginning in the 18th century; today it is estimated to service more than 6 million customers through 30 million online accounts, representing more than IDR 33 trillion ($2.5 billion US). Its core business is fiduciary services, such as private wealth management and banking, however it also Indonesia's largest provider of a range of financial services, including: mortgages, capital leases; micro, small business and working capital loans, construction, household and low-income, loans, money remittance services (in cooperation with Western Union), as well as providing access to gold and other investment opportunities.
Edwin Ng, Chairman and CEO for KinerjaPay Corp. commented, "This is an important partnership for KinerjaPay. Pegadaian provides some type of financial service to more than 6 million customers across the country, each of whom is a prospect for us. With more than 30 million online accounts this is a significant opportunity for us, as it is our experience that consumers who try our platform for one account, typically begin to use KinerjaPay for other services. This conversion rate will help us move toward our goal of becoming Indonesia's leading online payment solution and ecommerce platform."
The Indonesian economy generates nearly $1 trillion annually, however only 42% of the 250+ million citizens have bank accounts and only 5% have credit cards. KinerjaPay's network of payment channels and mobile apps allow un-banked Indonesian consumers and business to shop and pay bills quickly, safely and conveniently.
Pegadaian has long history in Indonesia, beginning in the 18th century. Its core business is fiduciary services, such as private wealth management and banking, however it is also Indonesia's largest provider of a range of financial services, including: mortgages, capital leases, micro loans, small business and working capital loans, construction, household and low-income, loans, money remittance services (in cooperation with Western Union), as well as providing access to gold and other investment opportunities.
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.