Doku Debuts Its First Regional Expansion Through Acquisition of happyPay

Aiming to bring synergy between the Malaysian and Indonesian markets, DOKU, a technology-based payment solution provider, acquisition to the platform payment gateway from Malaysia named HappyPay.

To DailySocial.id, DOKU COO Nabilah Alsagoff emphasized that Malaysia was the first country in Southeast Asia to expand. Apart from the common market and culture, Malaysia is also an ideal market for DOKU to expand their business outside of Indonesia.

"We see that the Malaysian market in terms of payment habits and others is no different from Indonesia but not as complex as the Indonesian market. They are more used to digital wallet and credit card payments. Meanwhile, in Indonesia, payments via bank transfer are still more widely used," he said. Nabilah.

He added that the large number of migrant workers and students in Malaysia from Indonesia was also the reason why this acquisition was made. This corporate action was carried out by DOKU after receiving funding from Apis Growth Fund II last year 2021.

Through the acquisition of DOKU, HappyPay plans to strengthen and expand services beyond payment online gateway, adopting new services such as e-wallets, remittances, and payment offline such as Tap On Glass, M2M (mobile to mobile), and others.

With this new offer, happyPay allows users to merchant to transition from a physical store model to a digital version, in line with the local government's “Digital Malaysia” initiative.

"When we founded HappyPay, we intended to make payment gateway alternative for small and medium businesses, especially for business owners who do not have technical skills and are not familiar with digital tools,” explained CEO of HappyPay Mansor Abd Rahman.

Founded in 2015, happyPay helps Malaysian businesses to easily accept payments from customers through various methods, including credit card, debit card and payment methods. internet banking.

Collaborating with regulators

One of the keys to DOKU's success in running the business for the last 14 years is a very deep understanding of the rules and policies issued by the regulator.

As a technology company that targets digital payment solutions, what you need to know is that there are very strict regulations imposed by the government and regulators for all existing platforms. This then makes them players who are able to survive and compete with other players.

Established in 2007, DOKU provides the widest range of payment products, both in terms of online nor offline? and has the most diverse electronic payment options, serving more than 150.000 merchant from across industries. DOKU also has five licenses from Bank Indonesia, which allows them to provide various services, such as payment gateway, domestic fund transfers, remittances, PPOB, electronic money, electronic wallets, and QRIS.