It’s been more than a year since Indonesia’s $10-billion ride-hailing firm Gojek acquired Filipino mobile wallet startup Coins in what The Ken learnt was a $95 million deal. One would expect a lot of synergies between the two companies by now.
Instead, Coins appears to have fallen behind its rivals GCash and PayMaya—owned by powerful telcos Globe and PLDT respectively—in the race to become the Philippines’ top super app super app Super App An app that covers a bevy of consumer needs, from shopping to rides, logistics, bill payments, money transfers, and so on .