Photo Credit: TN
Indonesian Ride-Sharing App, Go-Jek, Increases Cashless Payments In Southeast Asia
The ride-hailing company Go-Jek has teamed up with Visa Inc. in efforts to increase digital payments in Southeast Asia.
Visa, the largest payment network in the world, has invested in Go-Jek as a part of the Indonesian-based company’s series F fundraising round.
The motorbike ride-hailing app launched in Jakarta in 2011 and is now expanding to serve customers across Southeast Asia.
Visa Regional President of Asia Pacific, Chris Clark, says in a statement that the two companies have “a shared goal to bring formal financial services to the unbanked and underserved, including micro, small and medium businesses.”
Clark went on to say, “we will explore ways to leverage the power of Go-Jek and Visa’s networks to expand financial access in Southeast Asia.”
Both companies will work as a team to give consumers across Southeast Asia more options for cashless payments.
Visa has not released the amount of money they’ve invested in Go-Jek nor how much of the company they will acquire.
Since it’s launch, Go-Jek has become more than a ride-sharing app. They now allow their users to order food, groceries, massage services and make online payments.
According to Reuters, Go-Jek has raised about $1 billion this year and is worth up to $10 billion.