PayPal and Facebook's investment aims to propel the growth of Gojek’s payment system in Southeast Asia which has approximately 170 million users.
With PayPal’s entry, the company’s payment services will be integrated into the Gojek app in the short term.
Currently, PayPal has 25 million merchants from around the world in its network.
Head of Corporate Development and Ventures for APAC at PayPal, Farhad Maleki, said that Southeast Asia is at a crucial point in digital payment adoption.
“We could not be more excited about entering into this strategic relationship with Gojek to expand access and provide new experiences for our collective customers in this dynamic market and around the world,” said Farhad.
Recent Developments at Gojek
Google and Tencent were the Indonesian ride-hailing giant’s earlier investors and have collaborated on several of Gojek’s projects.
Google and Tencent made their first investments in 2018 followed by PayPal and Facebook in June 2020.
“We’re pleased to continue to invest in and enable Gojek in its journey. Gojek’s success points to the strength of the region’s internet economy and the innovation in its start-up ecosystem,” said Caesar Sengupta as VP Payments and Next Billion Users Google.
The Indonesian ride-hailing giant maintains its support to empower small businesses across Southeast Asia while continuing to partner with blue-chip investors.
Supporting the growth of small businesses is at the core of Gojek’s business objectives.
Through Gojek’s digital payment services, the company hopes to help the region’s small business communities gain access to financial services as many have no access to banking services.
Facebook’s partnership with Gojek will have a specific focus on growing the WhatsApp Pay service though the objective is in line with the Indonesian ride-hailing giant’s.
WhatsApp Chief Operating Officer Matt Idema said that WhatsApp and Gojek will “bring millions of people into Indonesia’s growing digital economy.”
Gojek is estimated to have received new funding worth between $3 billion or around Rp 42 trillion. Last March, the Indonesian start-up giant managed to raise $1.2 billion.
“Through the partnership, we truly have the opportunity to achieve something unique in line with our efforts to support a growing number of businesses turning to digitalization channels as well as ensuring millions of customers are enjoying the benefits of the digital economy,” wrote Gojek Co-CEO Andre Soelistyo on June 3.
(Writer: Bambang P. Jatmiko)https://t.me/kompascomupdate, kemudian join. Anda harus install aplikasi Telegram terlebih dulu di ponsel.