Reuters reports that Grab, one of Ovo’s backers, intends to spur the merger of Ovo and Dana. It is said to take part in Grab and Gojek’s competition for the payment platform. GoPay and Ovo are known as the two leading platforms of digital payment in Indonesia, followed by Dana as the closest competitor.
No official statement has been confirmed by the related parties.
Ovo was founded by Lippo Group and supported with Grab and Tokopedia. Ovo’s current CEO, Jason Thompson, was previously the Head of GrabPay.
Reuters also mentioned that the plan has been discussed with Softbank’s CEO, Masayoshi Son during his visit in Jakarta.
Softbank has been one of Grab’s significant investors. Alibaba, Softbank’s biggest porttfolio, created Dana through joint ventures with Emtek–which recently closed down BBM.
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Original article is in Indonesian, translated by Kristin Siagian
