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When 6,000 Islands Work From Home, Expect the Urge to Merge

When 6,000 Islands Work From Home, Expect the Urge to Merge
Bloomberg
12/23/2020
Andy Mukherjee
(Bloomberg Opinion) “It’s time for us to work from home, learn from home, worship at home,” Indonesia’s president announced in the early days of the pandemic in March. What Joko Widodo couldn’t have known back then was how social distancing would bring rivals in the country’s competitive telecommunications industry closer together. Credit for consolidation must go where it’s due: to the sprawling geography of the world’s largest archipelago.
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The investment required to serve Asia’s third-biggest population spread across 6,000 inhabited islands out of a total of at least 17,000 isles and atolls is already large. But with 197 million Internet users spending more time at home guzzling data, it’s pointless and wasteful for five mobile operators to seek to duplicate expensive infrastruct ....

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Google Pay grows its U.S. network, Billhop and Visa reach out to Finnish businesses

Google Pay grows its U.S. network, Billhop and Visa reach out to Finnish businesses
paymentssource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paymentssource.com Daily Mail and Mail on Sunday newspapers.

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Indonesian Tech Giant Gojek has Reportedly Paid Nearly $160 Million for Shares in Indonesian Bank Jago as Part of Major Fintech Deal

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Indonesian Tech Giant Gojek has Reportedly Paid Nearly $160 Million for Shares in Indonesian Bank Jago as Part of Major Fintech Deal
December 19, 2020 @ 3:59 pm By Omar Faridi
Indonesian tech giant has reportedly paid around $159.5 million for shares in an Indonesian bank (PT Bank Jago) – which is part of a major Fintech deal.
Gojek is competing with ride-hailing app provider
Grab which is also focused on establishing regional Fintech services.
Gojek intends to allow users to open bank accounts with Jago and then manage their money via its app. GoPay, which is Gojek’s payments and financial services division, purchased nearly 1.96 billion shares at 1,150 rupiah per share, according to a recent stock exchange filing. ....

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Gojek Buys Slice of Indonesian Bank in Biggest Fintech Deal Yet

Gojek Buys Slice of Indonesian Bank in Biggest Fintech Deal Yet
Dec 18 2020, 6:46 PM
December 18 2020, 4:50 PM
December 18 2020, 6:46 PM
(Bloomberg) Indonesian internet giant Gojek paid about $160 million to increase its stake in PT Bank Jago, making its biggest investment in financial services to date.
(Bloomberg) Indonesian internet giant Gojek paid about $160 million to increase its stake in PT Bank Jago, making its biggest investment in financial services to date.
GoPay, Gojekâs payments and financial services arm, bought almost 1.96 billion shares at 1,150 rupiah apiece, according to a stock exchange filing. The internet firm used call options to acquire its stake, completing the deal at a steep discount to Fridayâs close of 3,900 rupiah and paying about 2.25 trillion rupiah ($159.5 million) in total. Combined with an existing stake of 4.14%, the additional investment takes Gojekâs holding in Bank Jago to 22.16%. ....

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Gojek buys slice of Indonesian bank in its biggest fintech deal yet

Gojek buys slice of Indonesian bank in its biggest fintech deal yet
paymentssource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paymentssource.com Daily Mail and Mail on Sunday newspapers.

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