KinerjaPay Corp. Launches the Introduction of the Company's Proprietary, Online Payment Solution to Perusahaan Listrik Negana, Indonesia's State-run Electric Utility's 60 Million Customers
KinerjaPay Corp., (OTCQB: KPAY), a digital payment and ecommerce platform, ("KinerjaPay" or the "Company") announced that it launched a "No Administration Fee" campaign for Perusahaan Listrik Negara ("PLN"), Indonesia's state-run electric utility.
PLN is the sole provider of electricity for Indonesia, generating nearly $8 billion in annual revenues. The state-run enterprise services the Country's 60 million residents. The Company initiated the campaign to increase consumer awareness of its online bill pay services and to promote KinerjaPay as a comprehensive digital payment solution to everyday life. Management expects the campaign will run for 30 days throughout the country, and will be promoted through the Company's media channels and online advertising.
An estimated 60% of Indonesia's population does not have a bank account and less than 8% own a credit card, and therefore must make payments with cash; KinerjaPay is one of a limited number of viable options for those consumers. The Company's ecommerce platform enables users to securely make and receive payments online or through mobile applications, without an Indonesian bank account.
KinerjaPay also offers a number of other related payment services, including credit card payment, phone bill, water utility bill, and healthcare insurance payment. With the same campaign, the Company will also apply "No Administration Fee" to all services to promote the launch of the new feature. With the launch of these features, the Company aims to serve up to 10 million accounts over the next 2 years to transform the way utility bills and others are being paid online. With the expectation that each account could generate up to $0.20 per transaction on monthly basis, this form of payment could bring steady income and revenue to the Company in the long run.
Edwin Ng, Chairman and CEO for KinerjaPay Corp. commented, "PLN services the entire Indonesian population, and therefore represents a significant opportunity for us. We launched this campaign in an effort to become the primary payment option for the utilities' customers. Once consumers discover the ease and convenience of the KinerjaPay platform and services, I am confident that they will take advantage of it for other payment activities and shopping experience."
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 http://www.kinerjapay.com.
About Perusahaan Listrik Negara
Perusahaan Listrik Negara (PLN) is an Indonesian state-owned company tasked with supplying the electricity needs of the Indonesian people. Total capacity of PLN's power plants at end-2013 had grown to 46.104 MW. The company holds a monopoly on the distribution of electricity in Indonesia and it is the second-largest state company by assets. Indonesia has a population of approximately 250 million, and as of 2013, the percentage of Indonesian households that were connected to the nation's electricity grid stood at 80.38 percent.
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 http://www.kinerjapay.co. There you will find access to all of our past press releases and SEC filings regarding the activities discussed in this letter.
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