Indonesian gojek Acquires WePay to Expand Its E-Wallet Businessinto Vietnam: Report

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Indonesian gojek Acquires WePay to Expand Its E-Wallet Businessinto Vietnam: Report

Indonesian ride-hailing giant gojek has acquired a majority stake in Vietnamese payments startup WePay, as per a DealStreetAsia report.

The size of the deal remain undisclosed.

According to the report, the acquisition will help gojek in securing an e-wallet license to operate in the region.

As per the DealStreetAsia report, following the deal, WePay has switched its headquarters from Thanh Xuan district to Cau Giay district, where the gojek office is located.

Subsequently, gojek Vietnam’s Manager Phung Tuan Duc has been appointed as CEO of WePay.

WePay is an online payments services provider, which claims to have a partnership with 24 local banks, 1,000 merchants and four international card issuers.

After the launch of its subsidiary GoViet’s in 2018, gojek has established a substantial presence in the region across a range of verticals, including motorbike-hailing (GoBike), food delivery (GoFood), and general delivery (GoSend).

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