Digital wallet providers LinkAja, Ovo, and DANA are intensifying their competitive efforts by enhancing collaborations and developing innovative strategies to expand their market presence in 2025. According to Yogi Rizkian Bahar, CEO of LinkAja, the company aims to reinforce its two-sided B2B2C business model in the upcoming year.

LinkAja

In the B2B sector, LinkAja is focused on creating an end-to-end supply chain that integrates both traditional and digital approaches. On the B2C front, the company plans to enhance its customer acquisition processes at low costs while introducing attractive retention programs. Yogi emphasized that LinkAja intends to strengthen its strategic role as a digital startup in Indonesia by activating the value chain of state-owned enterprises (BUMN) through comprehensive financial services and digital ecosystems.

Yogi stated that the BUMN ecosystem will remain a key competitive advantage for LinkAja as a digital financial solution, supporting the development of payment infrastructure in collaboration with various BUMN business lines. The company is committed to continuing initiatives such as incentive disbursement services and loyalty point exchange platforms within the BUMN framework.

LinkAja is also enhancing its strategic synergy with partners, including Telkomsel, Pertamina, and Mitsui, aiming to provide financial innovations that benefit both individual users and corporations. These strategic collaborations are expected to increase business opportunities, enhance visibility, achieve cost savings, and foster long-term trust for sustainable business growth.

As of August 2024, LinkAja reported nearly a 10% increase in overall transactions compared to the previous month, with significant growth in segments such as e-commerce, food and beverage, retail, and religious donations. Since shifting focus to the B2B2C business model in 2023, LinkAja has prioritized user acquisition and retention at low costs, with a particular focus on maintaining high-quality users.

The company noted an impressive 34% increase in Average Revenue per User (ARPU) and a cumulative retention rate of 75%. Currently, LinkAja boasts over 93 million registered users, 1.4 million cash deposit and withdrawal locations, and 2.9 million registered merchants. Their offerings include cash transactions, bill payments, telecom services, money transfers, and sharia-compliant services.

DANA and OVO

DANA is also gearing up for 2025 by launching various innovations aimed at enhancing user security and broadening access to diverse financial services, such as insurance and investment. DANA's Head of Communications, Sharon Issabella, stated that the company aims to extend financial inclusion across Indonesia, leveraging advanced technology to reach underserved populations.

Meanwhile, OVO's President Director, Karaniya Dharmasaputra, highlighted that collaboration would be a key focus for the company in 2025. OVO has experienced strong growth thanks to its commitment to digital innovation and partnerships across regulated sectors. Karaniya also noted that OVO is actively engaging in initiatives to raise awareness and understanding of digital finance among the public, particularly regarding the risks of online gambling.

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