Better alone? Examining the new GoPay app

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Hello reader,

A few days ago, a friend asked me how old my phone was. The answer? It’s been slightly over five years, which, according to him, is “a really long time for a phone.” With how fast tech moves, he’s not wrong.

However, I’ve always been the kind of person that likes to use things as long as possible, until the point where they’re just too worn out – I once used a pair of shoes with a huge hole in them for several years until the sole quite literally fell off.

That said, with devices like phones, wear and tear may not be the only issue I have to think about.

Storage space, for instance, is becoming a bit of a problem, what with the many apps that I’ve downloaded over the years. I’ve had to regularly delete apps to free up internal storage space, although sentimentality holds me back from properly clearing it up.

That’s why it’s interesting to me that one reason why GoTo Group launched a standalone app for GoPay, its e-wallet, was to cater to users with more entry-level mobile phones that have less storage space. Check out our premium story for today to read more about what this app means for the firm.

Today we look at:

• Whether the new GoPay app indicates a shift for GoTo
• A round of layoffs at an Indonesian wealthtech firm
• Other newsy highlights such as SoftBank Group acquiring a new stake in chip designer Arm and how Shein is faring in South Africa.

Premium summary

Go, go, digital wallet rangers

Image credit: Timmy Loen

GoPay isn’t really a new thing – after all, it was previously only available through the Gojek and Tokopedia apps. GoTo is now looking to expand its possible market for its financial services – but does that mean its overall strategy as a super app could change?

• Trimming the fat: The Gojek app may have lots of features, but according to GoPay CEO Hans Patuwo, the firm wants to “go back to the basics” and ask “what the user needs.”
• Size matters: The standalone GoPay app is less than 25 megabytes – much lighter than the Gojek one. Size is an important consideration since many users in Indonesia have entry-level mobile phones.
• Here comes the money: In terms of monetizing the new app, fees are an option, as well as lending solutions in the future. Ultimately, Patuwo says that GoPay isn’t purely a money transfer app.

Read more: What GoPay’s new standalone app says about GoTo’s ‘super-app’ strategy

Sadge

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