JAKARTA (TheInsiderStories) - KinerjaPay Corp., (OTCQB: KPAY), an Indonesian digital payment and e-commerce platform announced its plan to acquire data center & business services provider PT Kinerja Indonesia. The acquisition positions the company to launch its services into Vietnam and Thailand.
Kinerja Indonesia is one of many IT companies in Indonesia based in Medan, North Sumatra. Established in 2007 with a mission to tap into the ever-expanding opportunities posed by rapid growth of Internet users in Indonesia. The company has many businesses including data center, web hosting and development, network solutions, e-wallet and games.
The rapid expansion of the startup company has enabled to have the ability to consolidate its IP technology and data center assets. In a press statement on May 13, KinerjaPay said the two-year service agreement has come to its conclusion and has decided to merge with this business.
This consolidation will enable the company to report all the sales running through the KinerjaPay network. In addition, it will now own its cloud network and IP technology.
It said, owning the cloud-based technology will enable the company to offer its customers the ability to expand beyond Indonesia. Similar to Amazon and Alibaba, KinerjaPay will now be able to enter the cloud computing services business, called KinerjaCloud.
The merger with Kinerja Indonesia will take approximately three months to complete. The company will issue 1,333,333 restricted common shares to acquire Kinerja Indonesia.
KinerjaPay announced in 2017, total transactions grow 192 percent to 615.308 versus 320.224 total transactions reported in 2016. Total average revenue per user for the year was US$20.82, a 177 per cent increase from the $7.51 in 2016. Otherwise gross merchandise value (GMV) was $2.84 million, up 328 per cent compared with $661,623 in 2016.
Edwin Ng, CEO of KinerjaPay Corp stated, throughout 2018 will continue to build its presence in the market, by both seizing opportunities for expanding the services and features we offer, but also adding to our facilities and infrastructure.
The company has build partnership with three multi-finance companies in Indonesia namely Columbia Cash & Credit, PT Mega Auto Finance and PT WOM Finance to cover 1.5 their million active customers and 300 cities.
KinerjaPay also has partnership with Indonesian convenience store chain Alfamart and Indomaret to allow customers make payments on any transaction performed inside KinerjaPay platform.
Furthermore the startup firm partnership with PT. 24 Jam Online, parent company of UniPin, one of Indonesia’s leading gaming platforms. Partnership with Ace Legends, Singapore-Based Developer to support the launch of KinerjaGames. Company will host all the games currently published by Ace Legends on its own KinerjaGames platform.
While with UBER will grant KinerjaPay users an exclusive promotion code for first-time users, valid for four rides.
Last year, the company announced its initial coin offerings (ICO) sale plan. KinerjaPay is planning to raise up to $5 million from its impending ICO.
The ICO, or initial token offerings, will be offered to institutional or private investors in the form of KCOIN, KinerjaPay’s own proprietary virtual currency. This move makes KinerjaPay to be the first Indonesian company to have an ownership in an international exchange.
Puerto Rico’s based Blockchain Industries, Inc. (OTCBB: OMGT), in partnership with Fintech Global Consultants, will be guiding KinerjaPay in their transition from an electronic payment platform to a token payment platform.
