Tokopedia to Partner with OVO for New Payment Scheme

Tokopedia soon to have a new payment platform. After Tokocash being suspended by Bank Indonesia in October 2017 due to license issue, Tokopedia will use Lippo Group OVO's mobile payment service as its default electronic money replacing Tokocash.

Tech In Asia Indonesia has first announced the OVO sneak peek in Tokopedia website. Tokocash, due to some issues, still incapable to obtain a license from the regulator.

Based on DailySocial's observation, the sneak peek is very bold especially on the payment form, by including OVO's information along with TokoSwipe which has not been officially introduced.

TokoSwipe is an online installment method that allows consumers, without credit cards, to use the pay-later scheme or installment. It is similar to BukaCicilan of Bukalapak.

The sneak peek includes information about Tokocash to be replaced and the balance can be transferred to OVO.

According to trusted source, OVO's utilization as Tokopedia payment method will soon to be implemented, pending to development and testing process.

OVO claims to be installed in more than 60 million smartphones and acquire 350,000 merchants in 212 cities. Currently OVO has become Grab's main payment platform.

OVO's arrival as Tokopedia payment method will make a strong support amidst competition with Go-Pay and Tcash to be the leading digital payment. According to iPrice, Tokopedia has now become the most popular e-commerce in Indonesia based on visitor traffic.

– Original article is in Indonesian, translated by Kristin Siagian