16 October 2019
16 October 2019
("Boku" or the "Company" and, together with its subsidiaries, the "Group")
Boku Partners with GoPay to Extend Mobile Payments Across Indonesia
Boku (AIM: BOKU), the world's leading independent direct carrier commerce company, is pleased to announce that it has entered into a partnership with GoPay, the digital payments platform of Gojek, the largest on-demand multi-service provider in Southeast Asia. GoPay is the largest consumer digital payments platform in Indonesia, processing approximately 50% of the transactions made on the Gojek platform.
Through the partnership, Boku's merchant customers in Indonesia will be able to introduce GoPay as an additional payment method, enabling ease of payments for a greater pool of end-users. The partnership reflects the growing popularity of e-wallets as the primary payment mechanism for multiple use cases like transportation, recurring entertainment subscriptions, and in-app and in-game micro-purchases.
Indonesia's e-wallet market is set to be the fastest-growing fintech segment in the country, with projected growth from US$1.5 billion in 2018 to US$25 billion in 2023, according to management consultancy Redseer.
Jon Prideaux, Chief Executive of Boku Inc, commented: "Boku's mission is to make mobile transactions simpler, and this partnership with GoPay is a big step towards accomplishing that mission. We look forward to continuing our collaboration with GoPay to bring cashless payments to more consumers in Indonesia and to bring increased customer acquisition to global businesses operating in Indonesia."
Timothius Martin, SVP Digital Product Marketer of GoPay, commented: "As Indonesia continues to move towards digital payments and embraces a mobile-first society, GoPay and Boku share the same vision of providing convenience and greater opportunities to both consumers and businesses. With Boku's leading network of global merchants we can immediately help traditionally underserved Indonesian consumers participate in the global digital economy."
Jon Prideaux, Chief Executive Officer +44 (0)20 3934
Keith Butcher, Chief Financial Officer 6630
Peel Hunt LLP (Nominated Adviser and Broker)
Edward Knight / Nick Prowting / Christopher +44 (0)20 7418
IFC Advisory Limited (Financial PR & IR) +44 (0)20 3934
Tim Metcalfe / Florence Chandler 6630
Notes to Editors
Incorporated in 2008, Boku is the world's leading independent carrier commerce company. Boku's Platform, which is linked to billing, identity and sales systems of more than 170 mobile network operators, simplifies transacting on mobile devices.
Boku's Payment products enable mobile phone users, of which there are more than five billion worldwide, to buy goods and services and charge them to their mobile phone bill or pre-pay balance. Its Identity Products are used to verify user details. Companies like Apple, Google, Facebook, Microsoft, PayPal, Spotify, Square, Sony and Western Union use Boku to simplify sign-up, acquire new paying users and prevent fraud.
Founded in 2016 as the digital payment's platform solution of Gojek, the largest on-demand multi-service provider in Southeast Asia, GoPay has quickly become the leading electronic money service in Indonesia.
With a growing reach both inside and outside of the Gojek ecosystem, the GoPay mission is to help millions of Indonesian families have access to a wide range of financial services and products based on a strategy of building strong partnerships and collaborations with all stakeholders, including the public sector, private sector, civil society, and academia.
Today GoPay has reached many major milestones, they were the recipient of the "Most Active Fintech Company to Support the National Non-Cash Movement" Award from Bank Indonesia; they are working with over 300 foundations and NGOs across 14 cities in Indonesia to boost digital donation services and they have been recognised on the Fortune's 2019 "Change the World" list.
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(END) Dow Jones Newswires
October 16, 2019 02:00 ET (06:00 GMT)