Indonesia’s KinerjaPay to acquire digital payments firm Mitra Distribusi Utama | Digital Asia
Digital Asia News Update
Indonesia’s digital payments and e-commerce platform KinerjaPay announced today it has agreed to acquire Mitra Distribusi Utama (MDU).
The terms of the deal were not disclosed.
The acquisition, expected to be complete by the end of 2018, will add more profit and total sales of US$39 million to KinerjaPay, according to an official press note.
Edwin Witarsa Ng, Chairman and CEO of KinerjaPay, said: “This acquisition will transform KinerjaPay’s position in the market to become one of the leading mobile prepaid companies in Indonesia. With the current average transaction volume of more than 2 million transactions per month, MDU will contribute significantly to the total transaction volume and revenue to the company.”
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KinerjaPay is a digital payments company providing payment solution when shopping online on its marketplace platform. With its current omni-channel platform, users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct money transfer.
The firm has plans to launch other e-commerce verticals, such as travel market, delivery services, and online gaming in the near future.
Started in 2007, MDU is a mobile prepaid top-up data package provider for all telco operators in Indonesia. It offers digital payment solutions for mini-market entrepreneurs, supermarkets, convenience stores, restaurants, workshops, and e-commerce sites.
The company claims to have achieved US$30 million sales, primarily by selling prepaid top-up balances and data plan for internet usage in 2017.
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