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Boku Inc.

Boku introduces eWallet payments in Indonesia

Boku Inc (LON:BOKU), a leading global mobile payment and mobile identity company, has announced the introduction of eWallet payments in Indonesia for one of its global music streaming partners.

Boku has added DANA, GoPay, and OVO, three of the most popular Indonesian eWallets, as new payment options for the Partner’s premium subscription service. With credit card penetration below 5%, eWallets have become Indonesia’s fastest growing payment method and a critical tool for growing online sales in that country. eWallet use is most prevalent with Indonesia’s youth. Recent reports indicate that 75% of Indonesian ewallet app users are 20-35 years old, with 68% of these using digital wallets at least once a week.

Jon Prideaux, CEO of Boku, commented: “Whether it is direct carrier billing or eWallet payments, this partnership is further illustration of Boku’s commitment to acquire new paying users for our merchant partners wherever the reach of traditional card payments is simply inadequate. This is especially true in markets like Indonesia where local eWallets are on pace to command the majority of all online payment methods in the coming years.”

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.