In an unanticipated twist in Indonesia’s e-payments game, powerhouse GOJEK has established a collaboration with newcomer LinkAja, a state-backed e-wallet platform that was launched to challenge the domination of GOJEK’s Go-Pay and Grab-backed OVO.
The tie-up will see a LinkAja payment option available on the GOJEK app later this year as an alternative to Go-Pay, which has been GOJEK’s sole payment method on its platform.
“We always believe that by implementing an open ecosystem and collaborating with all parties who have the same mission as the works of the children of the nation, more people will be able to feel the positive impact of that mission,” said GOJEK President Andre Soelistyo in an official statement.
“The ‘from Indonesia to Indonesia’ commitment brought by LinkAja makes it a strategic collaboration partner for us with one shared goal.”
The move makes GOJEK the latest Indonesian unicorn that LinkAja has forged a partnership with, having also teamed up with e-commerce firms Tokopedia and Bukalapak to facilitate e-wallet transactions on their respective platforms.
LinkAja, which was formed by a consortium of state-owned enterprises, officially launched its services at the start of this month after a much-delayed start.
Created through a merger of the e-wallets of telco firm Telkomsel, and lenders Bank Mandiri, BRI and BNI, as well as backing from lender BTN, oil and gas firm Pertamina and insurance firm Jiwasraya, LinkAja was touted as a serious contender in the e-payments race.
However, some observers believe that LinkAja may struggle to keep pace as it will be expected to be prudent and even profitable in running its business.
Early signs of this have been demonstrated before LinkAja’s service has rolled out, as the official launch of the platform, which was initially scheduled for early March, was delayed at least thrice.
However, Finarya, the company managing LinkAja, said its services are now available at over 150,000 merchants across the country and cover more than 400 digital products, including internet, electricity payment, and voucher games.
LinkAja has partnered with 20 e-commerce startups and can also be used by consumers to pay for public transportation, including railway, local integrated bus, and taxi.
According to LinkAja CEO Danu Wicaksana, the collaboration with GOJEK is aimed to help increase financial inclusion by 75 per cent by the end of this year, as targeted by the government.