Boku enters partnership with Indonesia's GoPay
Direct carrier commerce provider Boku has entered into a partnership with GoPay - the digital payments platform of Gojek, the largest on-demand multi-service provider in south east Asia - it announced on Wednesday.
The AIM-traded firm said GoPay is the largest consumer digital payments platform in Indonesia, processing around 50% of the transactions made on the Gojek platform.
It said that through the partnership, Boku's merchant customers in Indonesia would be able to introduce GoPay as an additional payment method, enabling ease of payments for a greater pool of end-users.
The partnership reflected the “growing popularity” of e-wallets as the primary payment mechanism for multiple use cases like transportation, recurring entertainment subscriptions, and in-app and in-game micro-purchases, the board explained.
Indonesia's e-wallet market was set to be the fastest-growing fintech segment in the country, with projected growth from $1.5bn in 2018 to $25bn in 2023, according to management consultancy Redseer.
“Boku's mission is to make mobile transactions simpler, and this partnership with GoPay is a big step towards accomplishing that mission,” said chief executive officer Jon Prideaux.
“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.”