DOKU is a payment platform from Indonesia, that acquired senangPay for $7.5 million (RM33 million) in July 2022. SenangPay itself is an online-based payment platform from Malaysia. The aim of the acquisition is overseas expansion.
The acquisition process follows DOKU receiving funding from Apis GROWTH Fund II, a private equity fund under the auspices of Apis Partners LLP in 2021.
DOKU's Chief Operating Officer, Nabilah Aslagoff, said, “The recent acquisition of senangPay is the first step in DOKU's overseas expansion. To reach wider business segments, especially SMEs (Small and Medium Enterprises).”
She added, “As a leading payment provider in Indonesia with the widest range of online and offline payment products serving over 150,000 merchants, we look forward to offering our innovative products to similar businesses in Malaysia. We believe the opportunity to enter Malaysia is even more attractive, given the similar socio-cultural backgrounds of our two countries.”
The acquisition process is not only profitable for DOKU but also senangPay. Through the acquisition, DOKU will assist senangPay in expanding its services beyond online payment gateways such as e-wallets, remittances, and offline transactions like Tap On Glass and M2M (mobile to mobile). With these new offerings, senangPay will help merchants transition from a brick-and-mortar model to a digital era. This intention aligns with the Malaysian government's “Malaysia Digital” plan.
The acquisition objective is also in line with CEO senangPay's hope, Mansor Abd Rahman. He said, “When we set up senangPay, we wanted to create an alternative payment gateway for small and medium businesses, especially for business owners who lack technical skills and are unfamiliar with digital tools.”
At the same time, with the popular side hustle trends, you can manage your project or a side hustle using VirtualSpace. It can provide a flexible way to manage projects and collaboration with your team.
Anyway, using a secure payment platform for transactions can ensure a trustworthy experience for your customers and help your business.
An overview about senangPay and DOKU
Let's get to know what senangPay and DOKU are.
What is senangPay?
SenangPay is an online payment gateway that was established in 2015. This application is managed by Simplepay Gateway Sdn Bhd (1155742-H).
In simple terms, senangPay works as a middle person that will request payment from the customer's card/account bank and then credit to your bank account. SenangPay also allows the FPX payment process to be more accessible. This platform has three packages, namely Basic Package (RM300/year), Advanced (RM450/year), and Special Package (RM1,500/year). Each package has different features, and you can learn the details of each senangPay package.
SenangPay has an affiliate program with a large commission, which is 30% of the package fee. To register as an affiliate, you must register as a user and use the Advance package. Affiliate commission disbursement will be credited directly to the account at the end of each month.
SenangPay supports payments using international currencies. This platform partners with Stripe. Through senangPay x Stripe, you can accept payments in EUR, USD, IDR, THB and other currencies.
The security and credibility of SenangPay are guaranteed. They ensure that customer's data will be safe. They also have PCI DSS standards with level 2 certification. Lastly, senangPay is officially registered with Bank Negara Malaysia.
Recently, senangPay also launched an innovation in zakat payment, SenangZakat. This update has received a positive response from users of this application.
Is senangPay Safe for Payment?
senangPay is registered with Bank Negara Malaysia. It is also registered with Bank Islam as their acquiring Bank. For every transaction, senangPay uses SSL (Secure Socket Layer). Further, they don't keep private information like credit or debit card numbers.
What is DOKU?
DOKU is an Indonesian-owned payment platform and electronic payment solution provider. Doku is the first platform to offer online merchants local and customised payment solutions. This provider covers online and offline payment processing and serves more than 150,000 merchants in many industries, including TikTok, Garuda Indonesia, Prudential, Google and Traveloka.
As one platform with five licences from Bank Indonesia, DOKU offers many payment methods, such as domestic transfers, payment gateways, cross-border remittances, e-money, e-wallet and QR Code payments. User registration on this platform is free of charge.
Is Doku Safe for Payment?
The Central Bank of Indonesia strictly controls all operations on the Doku platform, which has full licencing. The company website's 'licenses' area has a list of all available licences. No significant hacks, scams, or security breaches have occurred on the platform.
Final Thought
The main objective of DOKU's acquisition of senangPay is to seek wider business opportunities for both parties. DOKU can expand into Malaysia, while senangPay has the chance to grow faster and higher.
Beyond growth and expansion, DOKU's acquisition of senangPay also closed the gap between the two countries. Through this relationship, both parties combine the expertise of the two companies. The CEO of senangPay hopes to see significant improvements in areas he may never have expected.
Internal development cannot maximise a company's growth. It took a long time to transform to become higher and more expansive. That's why acquisitions matter. In final words, let’s see how big they’ll grow!
