Facebook, a US-based social networking company, is discussing launching a mobile payment service in Indonesia in partnership with three Indonesian mobile payment services: the government-backed LinkAja; Ovo, which is owned by the conglomerate Lippo Group; and the GoPay service of Gojek, a firm that began with a ride-sharing service and has since added delivery, payment and other products. The new service would allow Indonesians to make payments within Facebook’s primary app or its WhatsApp communications app. The two apps have approximately 100 million users in the country.
As of April 2020, LinkAja has 40 million registered users. Ovo has about 110 million users as of 2019. As of August 2018, GoPay processes approximately 100 million transactions per month for its 20 million users. As of December 2019, Facebook reported total assets of USD 133 billion and 2.5 billion users worldwide.
By Simrun Kothari, Research Associate
Sources and Additional Resources
South China Morning Post article
https://www.scmp.com/tech/big-tech/article/3080729/facebook-three-fintech-firms-talks-launch-mobile-payments-service
LinkAja homepage
https://www.linkaja.id/
Ovo homepage
https://www.ovo.id/
Gojek homepage
https://www.gojek.com/
Facebook financials
https://investor.fb.com/financials/default.aspx
The Paypers article on LinkAja
https://thepaypers.com/online-payments/linkaja-launches-indonesias-first-sharia-e-wallet–1241842
Entrepreneur article on Ovo
https://www.entrepreneur.com/article/330561
Yahoo profile on Lippo
https://finance.yahoo.com/quote/PTLKF/balance-sheet/
MicroCapital on Facebook plans to offer mobile money in the EU
https://www.microcapital.org/microcapital-story-facebook-seeks-regulatory-approval-from-central-bank-of-ireland-to-provide-remittances-mobile-money-throughout-european-union/
More MicroCapital news on Indonesia
https://www.microcapital.org/?s=indonesia
Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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