Spread of mobility service and Indonesian cashless society(2)

Spread of mobility service and Indonesian cashless society

As snowballing amount of investment continues to rush in, anticipation has been getting bigger that the local mobility market will fulfill its growth potentials in a maximum level. Huge success of two mobility startups in Indonesia can be partly attributed to the introduction of e-payment methods to their applications. 

For example, after purchasing a few electronic wallet-related startups, Go-Jek added Go-Pay, an e-payment function to its application in April, 2016. In contrast, Grab announced official business partnership with OVO, an electronic payment platform backed by Lippo Group and have it transplanted to mobile application in December, 2016.

Expansion of mobility services and Indonesian cashless society(3)

Expansion of mobility services and Indonesian cashless society

Singapore and Indonesia has been viewed as spearheading the advent of the digital economy across the region. Singapore is the financial and technological hub of Southeast Asia whereas Indonesia takes around 40% of the total GDP of the Southeast Asian economy. 

The fact that 8 out of 10 unicorns in Southeast Asia are headquartered either in Singapore or in Indonesia proves the significance of the two countries.