ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Technology

Grab invests in Indonesia-owned digital wallet entity LinkAja

Move comes after Singapore unicorn buys into another similar business, OVO

Indonesia’s digital payments transaction volume rose 78% in 2019 from a year ago, while transaction value jumped more than threefold. (Photo by Akira Kodaka)

JAKARTA -- Singapore multinational mobile tech giant Grab has invested in Indonesian state-owned payments company LinkAja, a move that may lead to further realignment in the archipelago's fast growing electronic wallets market.

Grab, for which Indonesia is the largest market, is already a major shareholder in OVO, one of the country's top mobile payments company, which is in talks with another local e-wallet entity DANA over a potential merger.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more