Starting March, topping up your OVO balance will not be free anymore. (Image via Grid.ID)

No more free OVO top-up beginning March 2020

Alfonsus Adi Putra
Business & Industry
Internet & IT
Jan 22, 2020
7128
Indonesian e-wallet service, OVO, will impose Rp1,000 for a top-up fee starting on 2 March 2020. The notification was spread through the app on Tuesday yesterday. OVO can change the terms and policies without having to notify the customers firsthand. Therefore, customers are encouraged to check their OVO apps.

OVO management stated that the top-up fee will be imposed on instant top-up through the OVO app, ATM, mobile banking, Tokopedia, and OVO booths. For the top-up through debit listed on the OVO app, a two percent fee will be imposed.

Assuring the already disappointed customers, OVO management said that the top-up through Grab riders will be free.

OVO’s President Director, Karaniya Dharmasaputra, explained that the administration fee for OVO top-up aims to support Indonesia’s payment system and ensure the quality of OVO service. Inviting partners, especially banks, to ensure an inclusive digital ecosystem, the administration fee aims to reduce operational and infrastructure fees.

Founded by Lippo Group in 2016, OVO is one of the Indonesian unicorns with a US$2.9 billion valuation and the leading e-wallet service in Indonesia.

On 25 September 2017, OVO was officially registered as a financial technology (fintech) company. It took OVO 2 years to expand its service to offline stores. Per March 2019, more than 110 million Indonesian people used OVO, spreading across 300 cities.

Source: https://bit.ly/36g3fJR

Business , Finance , Fintech , E-Wallet , Unicorn , ASEAN , Indonesia , OVO , Grab