Passpod has announced plans for an international expansion during its IPO in 2018

Indonesian traveltech startup PT. Yelooo Integra Datanet Tbk (Passpod) and Filipino payments service provider Weepay Payment Processing Corp have signed an MoU to set up a joint venture (JV) in the Philippines.

In a press statement, Passpod CEO Hiro Wardhana explained that the JV will utilise the Passpod brand to reach out to outbound travellers in the Philippines.

The company is also set to operate in May 2019.

The set-up of the JV is part of Passpod’s international expansion plan, which it had announced during its IPO on the Indonesian Stock Exchange (IDX) in 2018, when it raised US$3.2 million.

Also Read: Indonesian Wi-Fi rental startup Passpod to raise US$2.6M via IPO

It aimed for an IDR53 billion (US$3.7 million) revenue from the international expansion plan.

Passpod provides 4G modem rental service (travel mifi) to help Indonesian outbound travellers stay connected when travelling abroad, without the need to look for WiFi or use a new SIM card.

As a payments services provider, Weepay offer services that include Point-of-Sales electronic data capture terminal (POS-EDCT), m-POS, digital wallet payment, and online payments for e-commerce platform.

The JV between the two companies was set up to reach out to the growing number of outbound travellers from the Philippines, which had been predicted to grow into 4.3 million travels by 2021.

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Image Credit: Passpod

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