OVO is one of Indonesia’s leading e-wallets in a country where almost 40% of consumers use e-wallets to pay for the goods and services they buy online.
Over 110 million people currently use OVO, which is spread across 300 Indonesian cities, making the payment method ripe for continued e-wallet adoption and growth. In 2021, Singapore’s Grab took a 90% stake in the company (Reuters).
During lockdown, OVO reported an increase in new consumers using OVO of 267% and the number of small and medium-sized businesses using OVO rose by 95%.
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