Indonesia’s e-wallet race is heating up. Here are the main players

[Top Stories on Tech in Asia today]( Today's newsletter is sponsored by: Friday, 10 May 2019 Jakartans spend a lot of time in malls, and if you drive a car, you’ll need to pay parking fees (on average, about 5,000 rupiah or US$0.35 an hour). But at a Lippo-owned mall a couple years ago, I saw a pretty outrageous promotion from a new app called Ovo. Basically, if you download Ovo and use it to pay the parking fees, you pay a grand total of 1 rupiah. (Not 100 or 1,000 rupiah. One. It’s not even the hourly rate - that’s literally all you pay.) That was a mouthwatering incentive on its own, but looking back, it also targeted a gold mine for e-wallets: people with enough spending power to own automobiles. Ovo came to the e-wallet game three years after Go-Jek’s Go-Pay, but it has leveraged its powerful backers - Lippo Group, Grab, and Tokopedia - to make a serious play for the crown. The battle is far from over, but it sure makes Indonesia’s fintech space a fascinating one to watch. - Putra Top stories on Tech in Asia [Indonesia’s e-wallet race is heating up. Here are the main players]( by Putra Muskita [Singapore-based creative AI platform bags $1.1m in seed funding]( by Miguel Cordon [In brief: Grab mulls spinning off payments, financial services biz]( by TIA Bot [Ovo went from loyalty app to a top e-wallet in Indonesia. Now, it’s evolving again]( by Putra Muskita [A time of soul-searching for Singapore’s semiconductor industry]( by Raj Kumar [Kejora raises more than $100m for third fund]( by Pranav Kiran [Read more at Tech in Asia]( [Top jobs from Asia's tech scene]( [Regional Assistant Manager, Commercial]( Singapore, Singapore | SGD 3,500 – 5,000 [Product Owner]( Singapore, Singapore | SGD 4,000 – 6,000 [System Engineering Manager]( Tangerang, Indonesia [Fullstack Node.Js Developer]( Tangerang, Indonesia [Field Technician (QA)]( Jakarta, Indonesia | IDR 3,000,000 – 4,000,000 [Strategic Partnerships]( Jakarta, Indonesia [Post a job]( on Tech in Asia Jobs for free today! Copyright © 2019 Tech in Asia, All rights reserved. You have registered for Tech in Asia. Our mailing address is: Tech in Asia 9 Temasek Boulevard, #04-01 Suntec Tower 2Singapore 038989 Singapore [Add us to your address book]( You can [update your preferences]( or [unsubscribe from this list](