It could help OVO-DANA dominate Gojek in Indonesia’s multi-billion dollar online payments market. OVO and Gojek have been vying for the top spot in payments since 2018, with DANA not far behind.
(Sept 11): SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matter said.
A deal would see Singapore-based Grab buy a majority interest in Ant-backed DANA from Indonesian media conglomerate Elang Mahkota Teknologi (Emtek) and merge it with OVO, they said.
