JAKARTA (TheInsiderStories) – KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, announced is ready to launch its own indigenous application for micro lending business with peer-to-peer platform to facilitate credit facility.

Indonesia’s Financial Services Authority (FSA) estimates the country’s demand for consumer and small business financing at approximately US$125 billion. The regulator als said that domestic financial institutions can address an estimated $50 billion, leaving a financing gap of about $75 billion which is not being served by financial institutions.
According to FSA, currently there are 22 peer-to-peer platforms listed on this service. The peer-to-peer platform is incorporated in the association of FinTech Indonesia, such as Modalku, Investree, Amartha, GandengTangan and Koinworks which work on some areas including micro lending, social project and campaign crowd lending, and small to medium business (SMEs) lending.

KinerjaPay‘s mainly target consumer sector to provide micro lending facility in the range of $100 to $1,000 on biweekly or monthly term loans. As facilitator of the lending facility, the company will earn up to 5 percent fee from an estimated 1,000 transactions for the few months after its launch.

The company’s platform also will enable individuals to secure loans with investors lending their own money at mutually agreed upon interest rates. Individuals interested in borrowing money submit their funding needs and a profile for display on the platform, which investors can then evaluate to determine if an applicant meets their specific lending criteria.

Edwin Witarsa Ng, Chairman and CEO of KinerjaPay Corp stated, “After months of preparation, we are excited to finally getting ready to launch our next application, called KinerjaFund or KFUND. This app will bridge the need of micro funding by individuals with a group of investors to fulfil their funding needs.”

Recently, the company has announced 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.

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 was$2.84 million, up 328 per cent compared with $661,623 in 2016.

Ng 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 also announced its initial coin offerings (ICO) sale plan. KinerjaPay is planning to raise up to $5 million from its impending ICO.

The ICO 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. With the ICO, KCOIN will be used as KinerjaPay’s crypto-currency on one of the largest crypto-currency exchanges in Asia.

KinerjaPay urged will further extend its reach into e-commerce in the international market with the addition of multiple supplementary platforms, such as KryptoMall and KryptoGames, to its collection of crypto-based platforms.
In August 2017, KinerjaPay expands its digital e-commerce platform with the launch of KinerjaGames. The Company has entered a long-term License 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.
According to Statista, Inc., Indonesia’s mobile games segment will generate around $607 million in 2017, and is expected to show an annual growth rate of 17.4 percent resulting in a market volume of $1,152 million in 2021. User penetration is currently estimated at 31.2 percent, with a current average revenue per user of $10.40, and forecast to hit 51.4 percent penetration in 2021.
Email: linda.silaen@theinsiderstories.com