BI denies OVO determination as market leader

Bank Indonesia (BI) has rejected recent media reporting on the release of  'BI rank data' which suggests OVO market leadership in national digital wallet (e-Wallet) or electronic money in Indonesia.

The Indonesian central bank denied the recent media coverage, stating it never issued such a report.

"Bank Indonesia has never issued or published individual data," Executive Director of the BI Communication Department, Onny Widjanarko, stressed recently.

In the most recent news coverage, OVO is identified to have been accounted for 18 percent of total digital payment transactional value in Indonesia in the first six months of 2019.

The news which mentions e-Wallet usage ratings in Indonesia by referring to BI data, said Onny, is inappropriate.

"The information is false. Bank Indonesia has never released individual data," Onny repeated.

Recent news publication specified OVO leadership in electronic money and that the digital wallet built by the Lippo group and owned by Softbank through Malaysian company Grab prevailed over LinkAja, Go-Pay, DANA, and others.

The self-proclaimed data contradicts the facts raised by several establishments used to officially release electronic money usage ratings in Indonesia.

IPrice group research in collaboration with trusted analysis company App Annie for instance announced e-Wallet applications with the most users in Indonesia in mid-August 2019.

Comprehensively describing the top 10 most popular ranking from 2017 to 2019, the results revealed Go-Pay as an e-Wallet application with the Most Active Users (MAU) in Indonesia and the position as a market leader has not dropped for the third consecutive years.

OVO itself is ranked second based on the number of application downloads in the second quarter of 2019. DANA is ranked third and LinkAja trailing behind at fourth position.

The iPrice research team also collected data on the types of services provided from 38 e-Wallet and e-money applications available in Indonesia. Based on reports from ASEAN Nomura internet: Opening up the mobile wallet, Go-Pay has 10 types of services and is the most.

LinkAja has 9 variations of service types or almost the same as Go-Pay. It's just not having access to ride-hailing payments. Paytren has 8 service types, DANA and OVO both provide 7 service types.
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