What is OVO? OVO Review, Features

OVO is one of the most commonly used e-wallets in Indonesia and obtained an e-payment license issued by the Indonesian government in 2017.

About OVO

• According to OVO's official report, the number of user transactions in 2018 exceeded 1 billion, a 75-fold increase from November 2017, and the number of platform users increased by 400%. Among them, the three largest transaction categories were transportation, retail and e-commerce.
• In terms of retail, OVO currently has a presence in 294 cities in Indonesia, covering more than 500,000 retail stores, including large supermarkets, department stores, coffee shops, cinemas, parking operators, hospitals, all Grab services, and Tokopedia e-commerce platform and other consumption scenarios.
• OVO wallet supports multiple recharge methods, such as ATM machines, online banking, mobile banking or offline OVO booths.

Main features of Indonesia OVO payment

• Covered countries: Indonesia.
• Payment type: E-wallet.
• Supported currencies: IDR.
• Suitable industries: foreign trade e-commerce, game distribution, video live broadcast...
• Minimum single transaction amount: 10,000 IDR.
• Maximum single transaction limit: IDR 100,000.
• Number of users covered: >10 million.
• Market coverage: The e-wallet coverage rate is 13%, and continues to rise rapidly.
• Arrival time: Real-time arrival.
• Does it support chargeback: No.
• Is refund supported: Yes.
• Refund fee: 1.0 USD/refund.

OVO Payment Process

1. If you ultimately choose OVO as your payment method, you will be asked to enter your OVO ID (e.g. the phone number tied to your OVO account).
2. Entering the OVO ID will trigger a push notification for the consumer to verify the payment on their smartphone. Once the push notification is sent to the end customer's OVO app, they will have 30 seconds to respond and verify the transaction.
3. If the consumer approves the transaction from their smartphone and there is sufficient cash or points in the customer's OVO account, the transaction will be successfully processed.