In terms of monthly active users, DANA, which is supported by Alipay technology and experience, has risen rapidly, ranking third in the LinkAja than many Indonesian state-owned banks. The first two are GoPay from Go-Jek, an Indonesian online car maker, and OVO, which works closely with Grab, another major online car maker in Southeast Asia.
DANA is a joint venture between Indonesian media group Emtek and Ant Financial Services Group, which was established in March 2018. last november, dana officially released the open platform mobile app. Vincent Iswara, chief executive of DANA, has huge potential in Indonesia despite the late arrival of the market, and DANA will focus more on the vast rural user needs neglected by big companies.
Indonesian users are fully accepting mobile payment tools. At present, about 38 electronic wallets are registered with the Central Bank of Indonesia, among which DANA, GoPay, OVO and other local applications are dominant. According to the data from the iPriceGroup, Indonesian users will make $1.5 billion in transactions through these applications in 2018 and are expected to reach $25 billion by 2023.