JAKARTA, Indonesia, August 11, 2017 /PRNewswire/ --
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and ecommerce platform, ("KinerjaPay" or the "Company") today announced the plans to expand its digital ecommerce platform with the launch of KinerjaGames. The Company has entered a long-term License Agreement (the "Agreement") with Ace Legends Pte. Ltd ("ACE"), a Singapore-based game developer.
ACE was established in 2013 as a small independent development studio, and registered as a Singapore entity in 2016. The company has two primary divisions; its Game Development Studio and Art Outsourcing Studio, and has more than 300,000 user registrations. ACE publishes several successful online games, including Floo.io, Royale Cards, and Battle Hound, and has a number titles in the pipeline, including Dukun, Perkedel, which will be released this year.
Under the terms of the Agreement, in exchange for a $100,000 investment, KPAY will become the exclusive, world-wide Game Publisher License for ACE games and will host all the games currently published by ACE on its own KinerjaGames platform. To that end, the Company will integrate the source codes into the existing platform enabling users to enjoy more benefits, such as point rewards and KCoin rewards, by participating in the games. KinerjaPay will also provide R&D resources to help expedite the growth of ACE's Game Development Studio.
According to Statista, Inc., Indonesia's mobile games segment will generate approximately US$607 million in 2017, and is expected to show an annual growth rate of 17.4 % resulting in a market volume of US$1,152m in 2021. User penetration is currently estimated at 31.2 %, with a current average revenue per user (ARPU) of US$10.40, and forecast to hit 51.4 % penetration in 2021.
Edwin Ng, Chairman and CEO of KinerjaPay Corp., commented, "KinerjaGames is a natural expansion of our platform. We already enable users to shop, pay bill and make deposits in a single, secure environment, since most of them are playing games as well, it only makes sense to add this service to our offerings. Indonesia's thriving gaming market represents a substantial opportunity for the Company and we expect this feature will both attract new users, and encourage broader use of our services by existing customers."
Ng went on, "The partnership with ACE not only helps expedite our entry in the gaming sector, it will also add another 300,000 members to our current user-base. This endeavor is part of our strategy to create an "Online Reality Game" effect - whereby we incentivize users to increase their platform interaction by providing them with valuable rewards and discounts in exchange for points earned across the KinerjaPay applications."
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.