Tokopedia corporate communications vice president Nuraini Razak said that although GoTo would combine the companies’ mobility, e-commerce and financial services into one ecosystem, Tokopedia and Gojek would remain separate brands and planned to keep their doors open to partnerships with other companies.

“Tokopedia will continue to collaborate with other strategic partners,” she told The Jakarta Post on Monday.

The e-commerce platform allows payment with Gojek’s rival digital payment platform, OVO, as well as the use of bank transfers and credit cards. Tokopedia has yet to allow payment using Gojek’s e-wallet, GoPay.

Tokopedia forged its partnership with OVO in 2018 and also owns shares in in the company. Both firms were backed by Japan’s SoftBank.

Tokopedia still offers various delivery options from its partners, including Gojek’s GoSend, JNE, SiCepat and GrabExpress, the delivery arm of rival ride-hailing giant Grab.

On May 17, Gojek and Tokopedia announced the formation of a new entity called GoTo Group, which is now the country’s highest-valued tech firm at an estimated US$18 billion.

The group has formed a new financial arm, GoTo Financial, which will take over e-wallet GoPay and other financial services offered by the companies.

After the merger, GoTo Group expressed plans to go public and expand its e-commerce, on-demand and financial services to Thailand, Singapore and Vietnam, competing with the likes of Grab and Shopee for the Southeast Asian digital market.

Read also: Gojek, Tokopedia merge to form GoTo Group

Institute for Development of Economics and Finance (Indef) economist Nailul Huda told the Post on May 17 that the merger would not impact competition within Indonesia’s internet economy.

“As long as there is inclusivity, such as making other payment methods [besides GoPay] available, there should be no problem,” he said, adding that GoTo should avoid giving special treatment to Gojek’s couriers in the delivery of Tokopedia’s goods.

However, Nailul noted that the final decision would depend on a Business Competition Supervisory Commission (KPPU) ruling, which could be made up to two months after the merger announcement.

Read also: KPPU fines Gojek Rp 3.3 billion for late acquisition report

Singapore-based business consultancy Bain & Company private equity and telecommunications, media and technology practices partner Alessandro Cannarsi said the Gojek-Tokopedia merger would disrupt the market because it would create a country-focused company akin to Chinese firms such as Alibaba Group.

“If anything, [the merger] shakes up the opportunity for other companies to enter the game because it blurs the boundaries between e-commerce, ride-hailing, food delivery and financial services,” he said during a press conference on Friday.

Cannarsi went on to say that despite the varying success of international Southeast Asian companies, the internet economy still had ample room to grow as companies continued to find new business models to enter the digital market.

“It is too early to say that the market is completely consolidated. But I think the next wave of fast-growing companies will not look like the unicorns of today. It could be a more vertical-focused company or more partnership among current players,” he said.