Today we take a look at KinerjaPay Corp., (OTCQB: KPAY). The company was founded in 2010 and is based in Medan, Indonesia.
KinerjaPay Corp. operates as a digital payment, e-commerce Company. The Company, through its secure web portal and mobile based applications, allows its users to perform a large variety of payment services with ease and convenience in a secure environment. Users can access the platform to securely pay a wide variety of services such as credit card bills, utility bills, phone bills and health care insurance. KinerjaPay is planning to widen its scope by vertically integrating a variety of other e-commerce services in the area of travel, delivery, and online gaming.
The popularity of e-commerce versus traditional banking is undisputable. However, with KinerjaPay catering to the Indonesian economy, the opportunity is vast. The Indonesian economy generates close to $1 trillion annually but only about 42% of its nearly 250 million citizens have bank accounts, additionally, only 5% have credit cards. KinerjaPay capitalizes on this situation as its platform empowers un-banked Indonesian consumers and businesses to freely shop and pay bills competently and securely.
KinerjaPay has been busy enhancing its platform by widening its scope of services through a series several new partnerships that will broaden user experience. In April, the Company partnered with Indomaret and Alfamart, two of the largest convenience store chains in Indonesia, as well as Pegadaian, a multi-billion provider of fiduciary services in Indonesia. Also in April, KinerjaPay announced that consumers can use its platform to make payments to several leading multi- finance companies including Columbia Cash and Credit, Mega Auto Finance, and WOM Finance. Then in May, they announced a partnership with PT 24 Jam Online who is the parent company of UniPin, one of Indonesia’s largest gaming platforms. Not only will KinerjaPay earn a commission on every game voucher purchased through their platform, they will have an opportunity to cross market their other services to UniPin’s large 1.5 million paid subscriber base.
The Company is also driving growth by offering platform customers unique initiatives such as the launch of a Gift Card Center that will allow customers to use their KinerjaPay balances to purchase popular gift cards for companies such as Amazon, Barnes and Noble and Starbucks as well as some local companies. Additionally, the Company will offer these services through a linked account on the Bitcoin exchange.
KinerjaPay Corp., with the help of strategically targeted marketing campaigns, is recording record growth. Transaction volume more than doubled in the second quarter compared to the first quarter while deposits more than doubled as the platform has been increasing in popularity. The Company is also looking to drive growth by tapping into the gaming market. As recently as August, 11th the company announced plans to expand its digital e-commerce platform further with the launch of KinerjaGames and entered into a long term License Agreement with the Singapore-based game developer, Ace Legends Pte. Ltd. This agreement opens up another large area of potential growth for KinerjaPay, as the Indonesian mobile gaming segment is expected to generate approximately $607 million (US) in 2017 and is estimated to show an annual growth rate of 17.4%. The Company sees Kinerja Games as a natural expansion of their established platform and expects this offering will add new users, while at the same time, broaden their spectrum of services to their existing customer base.
KinerjaPay has a huge opportunity for growth as they target an enormous consumer base of unbanked citizens in Indonesia. To this point the company leadership has shown the ability, through its strategic initiatives and partnerships, to drive growth. Should KinerjaPay continue to execute and build on the groundwork they have laid out, the company could be in line for more robust growth ahead.
Forward Looking Statements
This LIVETRADES.TV report interview contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company’s contracts, the Company’s ability to raise sufficient development and working capital, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.
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