- Digital payments company
- Provides payment solution for online shopping
- Planning other eCommerce verticals in the near future
What KinerjaPay does:
KinerjaPay Corp (OTCQB:KPAY) is a company focused on online digital payments and eWallet services in regions with a large unbanked and underbanked population and minimal traditional credit card penetration.
The firm enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications.
Based in Indonesia, the company provides an 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 in the travel market, delivery services, and online gaming in the near future.
How is it doing
In early April, KinerjaPay said it would imminently receive the first of eight bank guarantees for $25 million from its investor, Infinity Venture Capital Pte Ltd of Singapore.
The company also said it has established a line of credit with PT Bank China Construction Bank Indonesia, Jakarta for $25 million. Back in January, the company secured a bank guarantee of $30 million to fund its KFUND lending operation.
In March, KinerjaPay announced that its chief executive, Edwin Ng is in discussions to explore synergistic and collaborative alliances with strategic investor Kozjin International Group.
Kozjin is an innovative fintech company using blockchain technology across its portfolio of businesses including real estate, showbiz, business schools, and aesthetic products.
The group said its strategic investment will focus towards building up KinerjaPay’s business revenue in the eCommerce sector, peer-to-peer lending platform, and expansion to other regions such as Malaysia, Vietnam, Taiwan and Japan.
The CEO of KinerjaPay has also thrown his financial weight behind the company in recent months, having agreed in mid-March to invest $1 million to accelerate the lending platform’s growth.
- News on collaborative alliances with strategic investor Kozjin
- Eyes significant revenue streams from microlending platform
What the boss says:
Commenting on the group’s agreement with Kozjin, KinerjaPay chief executive, Edwin Ng said: "This partnership will transform KinerjaPay Corp into a much stronger company. With Kozjin Group as our strategic investor, it will help KPAY grow beyond Indonesia to other markets such as Malaysia, Singapore, Vietnam, Taiwan and Japan."
On his own investment into the firm, Ng said: "I decided to inject my own capital from recent asset sales to jumpstart our micro-lending operation, using our KFUND platform. The opportunity for the company to rapidly grow in Indonesia's alternative lending market is a once-in-a-lifetime opportunity”.
“I also want to demonstrate my commitment to our loyal shareholders. KFUND's recently received license gives us the opportunity to generate significant earnings for KinerjaPay this year," he added.