KinerjaPay Corp (fka KPAY)

[John23V]

Why it's such a big deal that OJK is getting rid of the illegals? You already see the size of the market for p2p lending in Indonesia. How about the number of people using the black market that are going to be forced to use the legally registered companies? Here is just one of the recent busts: (article from today)

https://www.cnbcindonesia.com/tech/20191227143541-37-126053/kucing-kucingan-dengan-ojk-fintech-ilegal-bikin-15-aplikasi

PT Barracuda was actually stupid enough to go to the AFPI seminars and training back in April, then didn't finish the process and started making apps for illegal p2p loans. Well congrats! They got raided by the police today.

Here are the numbers:
Rp 75,000,000,000 in loans, collected Rp 91,000,000,000 in return on those loans. ($6,520,150.00)
Collected Rp 25,000,000,000 in admin fees. ($1,791,250.00)

All that since some time in April. Amazing.