Visa invests in Indonesia’s Go-jek, eyes digital payments across Southeast Asia (South China Morning Post)

Visa has invested in Indonesian ride-hailing firm Go-jek, as the two companies look to collaborate on digital payments across Southeast Asia.

Both Go-jek and Visa will work together to provide greater options for cashless payments across the region, according to a joint statement by the companies. Visa’s investment amount or stake in Go-jek was not disclosed. Visa is also an investor in Grab, according to a person familiar with the matter.

Go-jek currently operates Go-Pay, a digital wallet which users can top up to pay for a variety of services including rides, mobile phone credits and bills. Users can also send money to one another, and withdraw their balances to their bank accounts.

“GO-PAY and Visa share a collective vision of enabling convenient and seamless transactions for consumers across socio-economic groups,” said Aldi Haryopratomo, chief executive of Go-Pay. “Having driven the adoption of digital payments in Indonesia to improve incomes and lives, we are delighted to work with Visa to collaborate on further expanding our solutions to consumers across Southeast Asia.”

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South China Morning Post

17 July 2019

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