Investments

Visa Backs GO-JEK For Cashless Payments In Southeast Asia

Go-Jek Go-Pay smartphone

As Go-Jek continues its ongoing Series F fundraising, Visa has jumped onboard as both investor and collaborator.

The two companies are working together to offer more options for cashless payments and smoother transactions for consumers across Indonesia and Southeast Asia, Go-Jek said in a press release.

“We’ve been humbled by investor support over the course of our current fundraising round as they have truly shown confidence in our long-term vision of powering the next phase of technology-enabled growth in Southeast Asia,” said Go-Jek President Andre Soelistyo.

Go-Jek’s Go-Pay is Indonesia’s market leader in mobile on-demand services and payments platform and wants to accelerate services across the 640 million underserved and unbanked consumers of Southeast Asia. And Visa, the world’s leading digital payments technology company, wants to help them get there.

“We are excited about this partnership because Visa and Go-Jek share common objectives. We both want to make everyday life more convenient, whether it’s how people move around town in Southeast Asia’s fast-growing urban areas, or making it easier for people to pay and be paid all over the world,” said Visa Regional President Asia Pacific Chris Clark.

Go-Jek’s Go-Pay payment system rolled out in 2017, accounting for over half of the startup’s transactions. The company first expanded into Vietnam, then Thailand.

“Go-Pay and Visa share a collective vision of enabling convenient and seamless transactions for consumers across socio-economic groups,” Go-Pay CEO Aldi Haryopratomo said. “Together with Visa, we will have the unique opportunity to provide greater access to cashless payments across the region.”

Go-Jek started its Thailand operations in 2010 with food delivery and motorcycle rides with the Get brand. It has since grown from ridesharing to letting customers order a range of products services as well as make online payments. The company is also experimenting with cloud kitchens or delivery-only restaurants in Indonesia.

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