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OVO awarded Best Digital Wallet at The International Excellence in Retail Financial Services Awards 2020
- OVO established itself as a leading digital wallet in Indonesia with a largely growing registered user base
- The success of OVO in scaling its platform lies in its ability to build an ecosystem and forge strategic partnerships
- Together with other tech start-ups and NGOs in Indonesia, OVO is providing assistance in the midst of the COVID-19 crisis
Singapore, 5 June 2020 — OVO received Best Digital Wallet at The Asian Banker International Excellence in Retail Financial Awards 2020.
OVO established itself as a leading digital wallet in Indonesia with a largely growing registered user base
Since OVO began its journey in penetrating the Indonesian payments space in 2016, the digital wallet player has embedded its services to over 150 million devices and served more than 100 million customers. OVO offers a cashless payment service that can be used across a large network of online and offline merchants. The service is available to 90% of malls in the country – covering markets, department stores, food and beverages, hospitals and entertainment.
The success of OVO in scaling its platform lies in its ability to build an ecosystem and forge strategic partnerships
Over the course of 3 years, OVO has collaborated with other leading players in Indonesia to build its business and expand its services beyond payments. Notable partnerships that has enhanced its ecosystem include Grab, Tokopedia, Taralite and Prudential Insurance. In line with this, OVO is moving forward into financial services by introducing new products such as consumer lending with Tokopedia through its PayLater feature, OVO Dana Tara and Talagan Siaga for merchants and partners. Furthermore, OVO has invested in other startups such as StickEarn for marketing and Warung Pintar for transforming the 3.1 million street stalls in Indonesia.
Together with other tech start-ups and NGOs in Indonesia, OVO is providing assistance in the midst of the COVID-19 crisis
OVO, Grab, Tokopedia, BenihBaik, Gusdurian Network and Pemuda Muhammadiyah have collectively established a charity program to help those who are greatly affected by the pandemic and the lockdown. The group aims to deliver food packages to 100,000 people.
About The Asian Banker Internationa
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information on the collaterals for winning banks, please contact:
Mr. Mobasher Zein Kazmi
Head of Research
Email: mkazmi@theasianbanker.com
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