In fintech race, Go-Jek app extends consumer credit to offline stores

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Go-Jek, Indonesia’s answer to Uber, has acquired three fintech startups as it bids to establish itself as a major digital payments player. The firm has acquired offline payments processing outfit Kartuku, online payments gateway Midtrans, and lending network Mapan for undisclosed amounts.

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Go-Jek, Indonesia’s first billion-dollar tech startup, has agreed to acquire three local fintech firms as it seeks to expand its grip on the digital payments market. The deals involve Kartuku, a leading offline payments processing company in Indonesia; Midtrans, said to be the nation’s top online payment gateway; and Mapan, a community.

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Go-Jek takes big step into mobile payments with fintech acquisitions. Go-Jek wants to give consumers the ability to use its mobile app to pay for good and services both online and at physical retail stores. To do this, the company purchased three firms already operating in the payments space. Kartuku is an offline payments processing company in.

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