OVO Confirms Partnership with Bank Mandiri, Grab, Alfamart, and MOKA

Lippo Group's digital wallet service OVO announces a strategic partnership with 4 popular brands in Indonesia. They are Bank Mandiri, Grab, MOKA, and Alfamart. Adrian Suherman, President Director of OVO, in his speech, said the strategic partnership is expected to increase new active users coming from related parties. In addition, OVO intends to be an open platform for public use.

"Cross-acceptance platform partnership held with Bank Mandiri allows users to experience features from each platform. OVO also provides convenience for the cash-in transaction in all Alfamart outlets."

OVO expects to reach MOKA partners across 200 cities. As the point-of-sale service, MOKA is very useful for SMEs.

Extend partnership

Within a year post-launching, OVO claims to have around 5-10 million active users. OVO Devices are available in 350 outlets in 212 cities. It's still dominated by Jakartans, but users from Medan, Palembang, and Surabaya are getting increased. Extending partnership will OVO's main focus in 2018.

"The interesting fact is one of the biggest malls in Surabaya, Tunjungan Plaza, is registered with the largest number of partners," Suherman said.

P2P Scheme and QR Code

One of the plans OVO's currently developing is the peer-to-peer (P2P) scheme in-app. Regarding its implementation, Suherman confirms it's currently in the development stage, and if it's final, to be launched in Q4 2018.

"We surely will wait for the decision of Bank Indonesia regarding the license. If there's no problem, It'll be launched immediately," he said.

The use of P2P will add to OVO's implemented technology scheme. Currently, their team is implementing QR Code, as a payment method, aggressively.

PT Visionet International, the OVO's legal entity, officially acquired the license from Bank Indonesia (BI) as e-money operator mid last year.

Grab and OVO

Ridzki Kramadibrata, Managing Director of Grab Indonesia said the strategic partnership will allow OVO users to make balance top-up directly via Grab drivers which already announced in early July.

He mentioned GrabPay as a payment channel. The payment can be done via cash, credit card, Mandiri E-Cash, and OVO.

Recently, OVO has appointed Jason Thompson as the CEO. He previously was the Head of GrabPay.

"Not only OVO, there are possibility to add partners for Grab's payment options in the future," he added.

– Original article is in Indonesian, translated by Kristin Siagian