Tokopedia may be preparing to ditch its own e-wallet for Lippo Group’s Ovo

Photo credit: Tech in Asia

Leading Indonesian ecommerce website Tokopedia may be preparing to abandon its own e-wallet in favor of Ovo, a popular alternative developed by Lippo Group, a conglomerate belonging to one of Indonesia’s richest families.

Tech in Asia Indonesia learned of the development after spotting code and hidden images on Tokopedia’s website that contained an announcement for users. It’s unclear when the shift from TokoCash to Ovo will take place. Tokopedia declined to comment.

The announcement states that TokoCash will no longer be active and users can activate their Ovo wallet. All TokoCash will be transferred to Ovo after the activation is done.

Tokopedia froze many of TokoCash’s functions last year as it attempted to get an e-money license from Indonesia’s central bank. It’s not the only one that was waiting – marketplaces like Shopee and Bukalapak also had to hit pause on their e-wallets.

Many tech companies have found ways around this obstacle by acquiring or partnering with firms that hold e-money licenses. Grab has teamed up with Ovo to enable users to top-up cash to GrabPay. Meanwhile, Tokopedia competitor Bukalapak is working with payments provider Dana for its own e-wallet. Go-Jek obtained its license by acquiring MVCommerce.

Here are the Ovo-related code and assets that can be seen by inspecting the Tokopedia website:

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