Carrier billing company, Boku (BOKU) announced on Wednesday that it had entered into a partnership with the largest consumer digital payments platform in Indonesia, GoPay.
The partnership will mean Boku’s Indonesian merchant customers will be able to offer GoPay as a method of payment which in turn will allow easier payment for a larger pool of end-users.
GoPay is a payment platform of Gojek, the largest on-demand multi-service provider in Southeast Asia and processes around 50% of the company’s transactions.
"Boku's mission is to make mobile transactions simpler, and this partnership with GoPay is a big step towards accomplishing that mission,” said Boku’s Chief Executive, Jon Prideaux.
As Indonesia’s e-wallet market flourishes, projected growth is forecasted at $25 billion in 2023 from $1.5 billion in 2018 according to consultancy firm, Redseer.
The collaboration reflects the growing popularity of the e-wallet as a versatile payment mechanism whilst also demonstrating the wider, fast-growing status of the market as one of the most popular fintech segments in Indonesia.
Timothius Martin, SVP Digital Product Marketer of GoPay, recognised the collaboration as business adapting to a digital era, he 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."
Mr Prideaux further added, “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."
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