NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, June 17, 2019

By Dipen Pradhan

Ride-hailing rivals, Go-Jek and Grab, are on a toe-to-toe competition in a bid to become the best super app in the Southeast Asia. In the latest, Indonesia-headquartered Go-Jek has integrated DBS Bank’s e-wallet into its platform to drive cashless mobile payments for consumers in Singapore, as the player looks at giving a stiff competition to Grab, which started its payments’ service in the country two years back.

Through the latest partnership, the ride-hailing unicorn Go-Jek hopes to up its position in Singapore’s digital payments’ sector, which according to February report by a research firm Statista is expected to grow at a compound annual growth rate (CAGR) of 11.7 per cent to reach US$19,192 million by 2023.

Photo courtesy of lau rey.