Visa Announces Its Involvement in Series F Funding Gojek

Today (17/7) Visa announced that it has engaged in a Series F funding round that is currently being raised Gojek. Not informed about the nominal given, later the two companies will work together to provide non-cash payment options for consumers in Southeast Asia.

"We are very pleased with this partnership, because Visa and Gojek can share common goals. We (Visa and Gojek) wanted to make everyday life more convenient by making it easier for people to pay and be paid," said Chris Clark, Regional President of APAC Visa.

In the future, Visa will work more on prospects with the Gopay business unit, including expanding the scope of services for unbankable and SMEs. This was also conveyed by Go-Pay CEO Aldi Haryopratomo. Together with Visa he wants to bring the payment platform developed to be more affordable throughout the Southeast Asian region.

Earlier, in the same month, Siam Commercial Bank also mentioned participating in the funding Gojek. Series F funding round this time, targeting funds up to $3 billion, at least has obtained participation from JD, Tencent, Google, Astra International, Mitsubishi Corporation, Siam Commercial Bank, and Visa.

Increasingly attractive business competition

Another point of view that is also worth listening to is regarding the business competition of supporters great app ambitious to dominate the Southeast Asian market. Around October 2018, Grab announce deal with Mastercard to initiate strategic cooperation in the field of payments. The initial realization was by launching a virtual credit card targeting users Grab in South East Asia.

Specifically for the digital market in Thailand, Siam Commercial Bank chose to invest in Gojek, while Kasikornbank has participated in the funding Grab. It becomes even more relevant when comparing Yamaha Motor's investment to Grab and Mitsubishi Motors to Gojek.

great app as if it has become a magnet in itself, inspiring every company to flock to win the momentum of shifting consumer technology trends with Gojek and Grab become the "locomotive" of the transition in the regional area.