JAKARTA, Indonesia, June 1, 2017 /PRNewswire/ --
KinerjaPay Corp.,(OTCQB: KPAY), a digital payment and ecommerce platform, ("KinerjaPay" or the "Company") today announced that it generated record transaction revenue and number of transactions conducted for the first quarter ended March 31, 2017.
Transaction revenues for the first quarter of 2017 were $3.36 billion RP (approximately $252 thousand US), nearly double the $1.76 billion RP (approximately $132 thousand US) reported in the fourth quarter of 2016. This increase is attributed to a number of promotional activities, including KinerjaMall and remittance, payment and gamification campaigns.
In the first quarter of 2017, the Company saw a 40.7% increase in the number of transactions conducted online as compared to the fourth quarter of 2016, registering 28,493 and 20,250 online transactions, respectively. This growth was driven by sales of Pulsa (phone top-ups), as well as other revenue streams, including BPJS (social insurance), PLN (utility bills), PDAM (water bills), Telkom (phone bills) and Multi-finance (auto financing), among others.
The Company also reports a significant jump in the number of users depositing funds through the platform, increasing from 206 deposits in the fourth quarter of 2016, to 1,133 deposits in the first quarter of 2017.
Edwin Ng, Chairman and CEO for KinerjaPay Corp. commented, "The KinerjaPay platform continues to gain the confidence of the market, from both consumers and business owners, and we expect these trends to continue as we look to the future.
"Notably, during the first quarter, we saw a direct correlation between our advertising campaigns and increases in revenue. To that end, we intend to initiate marketing campaigns specifically targeted to increase the number of transactions and active users, as well as promotional activities to increase use of KinerjaMall and our remittance, payment and gamification features."
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