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.
