Go-Jek takes big step into mobile payments with fintech acquisitions
An Indonesia-based motorcycle taxi ordering company is taking an unusual step to get into mobile payments next year with the purchase of three fintech firms in the country, according to various local reports.
Go-Jek wants to give consumers the ability to use its mobile app to pay for good and services both online and at physical retail stores. To do this, the company purchased three firms already operating in the payments space.
Kartuku is an offline payments processing company in Indonesia. Midtrans is the country's top online gateway while Mapan is a local savings and lending network.
Go-Jek said these companies already process some $5 billion in credit, debit and digital wallet transactions for consumers, service providers and merchants.
Go-Jek is actually one of Indonesia's largest digital companies and counts China's Tencent as an investor.