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Cash-burning Indonesian payment apps seek profit in credit

Wary of Uber's losses, Go-Pay and Ovo tap into new stream of revenue and data

Go-Pay and Ovo have burned cash by offering numerous discounts and incentives. (Photo by Kosaku Mimura)

JAKARTA -- The two leading contenders in Indonesia's digital payments sector have shown their willingness to spend without thought for the bottom line, but now the battle for dominance has entered a new phase as Go-Pay and Ovo offer credit-like services aimed at recouping their investments.

The greater potential for achieving a profit matters more to Go-Pay, the payment arm of local ride-hailing startup Go-Jek, as its parent considers an initial public offering.

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