Our publication is called “The Emerging Markets Report,” and quite literally we are looking at and for ascendant stories in rapidly expanding new markets. Our goal is to identify what we see as public company plays with what we see as potentially Better Mousetrap, market disruptive tech products or technology.
It is important to note that for us progress isn’t always or even usually a smoking hot annual report full of profits. For companies at this market strata we are looking for acceptance, seminal deals, expansion. Along those lines, it’s time to revisit Logiq, Inc. (NEO:LGIQ; OTCQX:LGIQ), a global provider of award-winning e-commerce and fintech solutions which by the way, we have discovered insider buying, as reported here.
First off, it’s clear to any regular reader of The Emerging Markets Report that we love fintech. We believe it’s an essential part of the global economy with nearly ubiquitous applications, which Logiq is in such in this space.
As such, a recent press release announcing penetration into an essential service in the world’s 15th largest economy is worth noting. Let’s dive a little deeper.
In the press release, the Company reports that it has launched a new exclusive mobile payment option for driver license psychological testing in Indonesia. The tests are mandatory for millions of Indonesians looking to obtain or renew their license.
Let those numbers sink in for a moment.
Logiq adds that the launch follows its announcement at the end of June that it partnered with Mentalku, the exclusive government-licensed provider of these tests that are mandated by regulatory statute. Mentalku administered about 17 million such tests last year. As part of an initial pilot program for the new mobile payment services, Logiq has integrated its mobile payment solution, AtozPay™, into the Mentalku mobile app. The Mentalku app also offers telemedicine services, digital testing and virtual counselling that can be paid for using the newly integrated AtozPay eWallet payment gateway.
Incidentally, Mentalku’s principals are the same people who’ve partnered with Logiq to rollout the microlending platform for BPJSTK, the country’s social security program and benefit sponsor. This is in fact, a government organization, which provides the highest barrier to entry. BPJSTK has 50 million members and 600,000 small businesses on its platform so it’s a major coup for Logiq.
In a world of choices that Indonesia’s chosen provider selected Logiq as its payment processor for what seems like an enormous, mandated consumer offering.
Logiq is cutting these deals in international markets and Indonesia provides not just the real value of revenue but a case study for the sales team to use in similar markets.
For more information, visit https://logiq.com/
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EMC has been paid $250,000 by Logiq, Inc. and $225,000 by Civet on behalf of Logiq for various marketing services including this report. EMC does not independently verify any of the content linked-to from this editorial. | Please read our full disclaimer