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Technology WhatsApp, Paypal invest in Indonesian payment and ride-hailing firm Gojek

05:50  03 june  2020
05:50  03 june  2020 Source:   reuters.com

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Gojek was founded in 2010 as a ride - hailing firm and has since evolved into a one-stop app through which users can make online payments and order food and Indonesia is one of WhatsApp 's five biggest markets, with over 100 million users. WhatsApp , Paypal invest in Indonesian payment and

Visa has invested in Indonesian ride - hailing firm Gojek as part of a deal that will see the pair work together to spread digital payments throughout South East Asia. The investment is part of Gojek 's ongoing Series F funding round but the size of Visa's commitment has not been disclosed.

By Fanny Potkin

SINGAPORE (Reuters) - Facebook Inc messaging platform WhatsApp and Paypal Holdings Inc on Wednesday said they have invested in payment and ride-hailing firm Gojek as part of the Indonesian firm's ongoing fundraising round.

WhatsApp and Paypal did not disclose the size of the investment or the stakes they would receive.

WhatsApp Chief Operations Officer Matt Idema in a blog post said the messaging platform would work with Gojek "to support the growth of millions of small businesses".

Paypal said in a statement that its payment capabilities would be integrated into Gojek's services.

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  WhatsApp tightens sharing limits to curb virus misinformation WhatsApp on Tuesday placed new limits on message forwarding as part of an effort to curb the spread of misinformation about the coronavirus pandemic. The new policy limits users to forwarding certain messages to one "chat" at a time, aiming to limit the rapid propagation of content which is provocative but likely to be false. The Facebook-owned messaging platform said it took the action to enable people to concentrate on personal and private communications during the health crisis.

Local payment firms have attracted huge interest from foreign tech giants whose expansion drive in Indonesia has been deterred by tough licensing OVO, also owned by Indonesian conglomerate Lippo, is the official payments partner of Grab in the country, while Gojek has backing from strategic

Visa has invested in Indonesian ride - hailing firm Gojek as part of a deal that will see the pair work together to spread digital payments throughout South East Asia. The investment is part of Gojek 's ongoing Series F funding round but the size of Visa's commitment has not been disclosed.

Reuters reported in April that Facebook was in talks with Gojek about an investment and was working with three e-wallet operators in Indonesia, including Gojek's GoPay, to launch mobile payment services in Southeast Asia's largest economy.

The same month, WhatsApp invested $5.7 billion in the digital arm of India's Reliance Industries Ltd .

Gojek was founded in 2010 as a ride-hailing firm and has since evolved into a one-stop app through which users can make online payments and order food and services. It is active in four markets and owns an e-wallet startup in the Philippines.

The firm is valued at $10 billion, sources have said. It closed a $1.2 billion funding round in March, showed to an internal memo reviewed by Reuters.

"With Facebook and WhatsApp being the dominant social and messaging platforms in Indonesia, this investment cements Gojek's position as the leading super app for more than 300 million people," said Hian Goh, partner at Openspace Ventures, which lead Gojek's series A funding round in 2014.

Indonesia is one of WhatsApp's five biggest markets, with over 100 million users.

(Reporting by Fanny Potkin; Editing by Himani Sarkar and Christopher Cushing)

Will it soon be possible to send money via WhatsApp? .
© Flickr Will it soon be possible to send money via WhatsApp? Facebook, which owns the messaging service, has announced that it will test this functionality in Brazil. Facebook installed its payment service on its WhatsApp messaging system in Brazil on Monday, to allow users to pay for purchases or transfer money to relatives "as easily as sending a message".

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