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This Jakarta eatery accepts payment through Ovo, Lippo's proprietary e-money platform. (Photo by Jun Suzuki)

Lippo Group moves to cash in on Indonesia's cashless society

Conglomerate aims to unite 60 million customers through digital wallet

JUN SUZUKI and WATARU SUZUKI, Nikkei staff writers | China

JAKARTA -- Indonesian conglomerate Lippo Group will take advantage of its vast customer base of 60 million to strengthen mobile payment services, a promising market where its future may lie.

Online shopping and ride-hailing apps have quickly gained currency in Indonesia as consumers have embraced smartphones. Of the country's population of 260 million people, more than half is 30 or younger.

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