Both companies, Facebook and PayPal, have announced their investment made in Gojek. With this investment made, they have joined the group of other high-tech firms, Google and Tencent, which have also backed Gojek. It is Indonesia’s first and fastest-growing application for shopping, food ordering, commuting, and making digital payments across Southeast Asia.
News Agency PTI reported that Matt Idema, Chief Operating Officer, WhatsApp, did not disclose the specific sum invested in Gojek but stated that this investment would help in uplifting Facebook’s commitment to small businesses and bring them and their customers into the digital economy.
It is also quite evident that the Gojek app has helped hundreds of thousands of merchants onto its platform. These merchants are given access to more than 170 million people across Southeast Asia. The payment business of Gojek is huge as it undertakes billions of transactions each year and owns the largest e-wallet in Indonesia.
PayPal said that the commercial partnership would help the company to “significantly grow.” Both Facebook and PayPal will have great scope and market in Southeast Asia.
“This new relationship is another positive step in our journey towards becoming the worldwide payments partner of choice, and helping to fuel global commerce by connecting the world’s leading marketplaces and payment networks,” PayPal said in a statement.
“The majority of small businesses in Indonesia rely on cash to operate due to the country’s large unbanked population. Digital payments are safer than cash, both for businesses and customers. And digital payments help more people participate in the economy and give businesses access to credit which is crucial for business growth,” said Matt Idema, Chief Operating Officer of WhatsApp.
From Gojek as a call center to connect consumers, to courier delivery and ride-hailing service in 2010, to Indonesia’s first and fastest-growing app for ordering food, shopping, commuting, and making digital payments, Gojek has taken a noticeable plunge from bottom to the top in the industry. This investment in Gojek will support Facebook and Gojek’s shared goal of empowering businesses and driving financial inclusions.