GoPay, which began life in 2016 as an app to enable frictionless payment transactions between the drivers and passengers of the Indonesian ride-hailing app Gojek, is fast evolving into a provider of more comprehensive financial services.
On Wednesday, GoTo — the entity formed from the merger of Gojek with online marketplace Tokopedia in 2021 — announced a new feature called GoPay Tabungan by Bank Jago, which allows GoPay users to transfer their e-wallet balance to their Bank Jago accounts. Bank Jago is a domestic lender in which GoTo holds a 21.4% stake.
Users will not be required to pay administrative fees and can enjoy free transfers via the GoPay app, the company said. GoPay Tabungan by Jago users will earn them an interest of 2.5% per annum on the balance.
