Indonesian state firms said to pool $80m capital to launch Go-Pay, OVO competitor

Indonesian state firms said to pool $80m capital to launch Go-Pay, OVO competitor

Jakarta, Indonesia. Photo: Gede Suhendra/unsplash

Indonesian state-owned enterprises have joined forces to launch a single unified mobile payment service to challenge the domination of market leaders Go-Pay and OVO in the country.

The six companies involved are set to pool together a total investment of $80 million as capital for the new LinkAja platform, an industry executive aware of the developments has told DEALSTREETASIA.

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