Hi. It’s Brady again.
Across Asia, e-wallets are present on nearly all smartphones. These applications are here to stay, but there is little space for innovations in processes that are set (and work well).
The special thing about some e-wallets is that many people can use them even if they don’t have bank accounts. This means networks that integrate these applications are able to access a set of consumers that may have been previously out of reach.
This and other factors have led Indonesian conglomerates to link up with e-wallets, with the latest being Sinar Mar and Dana via a USD 225 million investment.
Khamila mapped out the relationships between Indonesia’s largest corporations and the fintech service providers that are now part of their structures. You can read her article here.
Can quick commerce find solid footing in Indonesia?