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KinerjaPay Corp. to Enter Micro Lending Business in Indonesia

  • By KinerjaPay Corp.
  • September 4, 2018

After months of preparation, the Company is ready to launch KFUND in August 2018

PR Newswire

JAKARTA, IndonesiaJune 22, 2018 /PRNewswire/ --

KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, ("KinerjaPay" or the "Company"), announced today that it is ready to launch its own indigenous application for micro lending business with peer-to-peer platform to facilitate credit facility.

Indonesia's Financial Services Authority estimates the country's demand for consumer and small business financing at approximately US$125 billion. Domestic financial institutions can address an estimated US$50 billion, leaving a financing gap of about US$75 billion which is not being served by financial institutions. According to Indonesia'sFinancial Services Authority website, there are currently 22 peer-to-peer platforms listed on this service. The peer-to-peer platform is incorporated in the association of FinTech Indonesia, there are several peer-to-peer lending platform in Indonesia such as Modalku, Investree, Amartha, GandengTangan and Koinworks which work on some areas including micro lending, social project and campaign crowd lending, and small to medium business lending. Their interest depends on the type of the business/person, but it is typically around 3%-20%. Some of them are giving loan for employees, to be used for things like buying a motor cycle, renovating house or for medical treatments. It ranks loan applicants according to risk and encourages borrowers to spend their investments across diverse portfolio includes low risk lending and high-risk lending.

KinerjaPay Corp. will mainly target consumer sector to provide micro lending facility in the range of $100 to $1,000 on biweekly or monthly term loans. As facilitator of the lending facility, the Company will earn up to 5% fee from an estimated 1,000 transactions for the few months after its launch. The Company's platform also will enable individuals to secure loans with investors lending their own money at mutually agreed upon interest rates. Individuals interested in borrowing money submit their funding needs and a profile for display on the platform, which investors can then evaluate to determine if an applicant meets their specific lending criteria.

Edwin Witarsa Ng, Chairman and CEO of KinerjaPay Corp stated, "After months of preparation, we are excited to finally getting ready to launch our next application, called KinerjaFund or KFUND. This app will bridge the need of micro funding by individuals with a group of investors to fulfil their funding needs. This app will bring in thousands of transactions to the Company and billions of Rupiah to our Company's business volume."

About KinerjaPay 

KinerjaPay enables consumers to "Pay, Play and Buy" through its secure web portal and mobile applications. Based in Indonesia, the Company provides easy and convenient payment solution while shopping online at 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 transfer to anyone at their convenience. KinerjaPay is also planning to launch other eCommerce verticals such as travel market, delivery services, and online gaming in the near future. The Company's services are available through its mobile applications and on its website at

Notice Regarding Forward-Looking Statements  

This press release may contain forward-looking statements, about KPAY's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, KPAY or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by KPAY with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of KPAY's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause KPAY's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause KPAY 's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in KPAY 's filings with the SEC. In addition, KPAY operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. KPAY does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Please see the risk factors associated with an investment in our securities which are included in our Annual Report on Form 10-K as filed with the U.S. Securities and Exchange Commission on February 11, 2016.

For more information, please visit our website There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this letter.

Media Contact:
KinerjaPay Corp.


SOURCE KinerjaPay Corp.