Saturday's attack is the biggest on Saudi oil infrastructure since Saddam Hussein's invasion of Kuwait in 1990.Energyread more
"Blaming Iran won't end disaster. Accepting our April '15 proposal to end war & begin talks may," Zarif said on Twitter.Energyread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
While Go-Jek started off as a motorbike and taxi hailing company, it has expanded its products to include things like food delivery, groceries and payments. Users can spend on rides and other items inside the app using Go-Pay and the company is planning to expand that service aggressively, according to its president.
"Go-Pay is going to be the front product that will expand in a very aggressive way," Andre Soelistyo, Go-Jek's president, told CNBC's "The Rundown," adding, "In China you have Alipay and WeChat Pay (and) I think we want to replicate that kind of success in Indonesia."
Soelistyo said that the market in that country is ripe for cashless payments since its un-banked population is high and credit card penetration is low.
To be clear, a recent PayPal study found that cash is still the preferred method of payment in many parts of Asia. In Indonesia, more than 70 percent of the respondents to the PayPal study said they used cash most often.
But the potential for digital payments is high in Asia due to greater mobile penetration and connectivity, and the expected growth of the internet economy over the next several years.
For Go-Pay to emulate the success of Alipay and WeChat Pay, Soelistyo said, traditionally physical services need to be digitized to cut down friction in the system and add more uses for online payments. Those use cases include bill payments, in-game purchases, paying for digital products, travel tickets, trains and more.
"So there's a lot of things that can be added into the system and with Go-Pay, you add data as well, which is super important, especially in understanding your customer's behavior, merchant's behavior and to do all kinds of other stuff in the future," he said.
Currently, Go-Jek's fleet has more than 200,000 drivers and that includes motorcycles, cars and trucks. They are present in 50 cities in Indonesia and are backed major investors including Tencent, JD.com, KKR and Sequoia Capital.
When asked about Go-Jek's expansion plans, Soelistyo said the company was looking at a few markets that have a similar consumers and infrastructure to Indonesia. Those include Thailand, Vietnam and the Philippines, he said.
"We've been able to use a lot of the data that we collected from the products and services that we have to probably guess which products, or combination of products, would scale very quickly in those markets," Soelistyo said.
But the transportation service may not necessarily be the starting point for expansion outside Indonesia, he added.
"For instance, our Go-Food product now is actually very, very famous in Indonesia and that's also a daily use case that you can build a big platform from," he said. "If you look at all of Southeast Asia, food and transport are definitely top of the top in terms of the spending behavior and that's pretty common in those markets as well."