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Grab expands into Indonesia e-payments, taking battle to Go-Jek

Stake in Lippo's Ovo opens latest front between Southeast Asia's ride-hailing rivals

Indonesia is the biggest ride-hailing market in Southeast Asia, and is home to Grab's main rival,Go-Jek.

JAKARTA -- Top Southeast Asian ride-hailer Grab has invested in Ovo, an Indonesian digital payment platform developed by local conglomerate Lippo Group, sources told the Nikkei Asian Review.

Indonesia is the region's biggest ride-hailing market and is home to the Singapore-based Grab's key rival, Go-Jek. Their battle is intensifying as both companies transform into service providers far beyond transportation, and e-payment systems are considered essential for corralling users within their digital ecosystems.

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