07-Sep-18, Nikkei Asian Review
In front of every eatery on the first floor of the Gandaria City shopping mall in Jakarta stands a purple Ovo signboard promising "10% cash back" and other deals. The Ovo logo is also appearing more in Surabaya, Medan, Bandung and other cities.
Image: Jun Suzuki
The Lippo group says its Ovo e-money can be used at 200 malls and 5,000 restaurants nationwide. The operator says it is the no.1 player in an Indonesian e-payments market that grew 434% in the first half of 2018.
Ovo symbolizes Lippo's path forward in more ways than one: It is a further step into digital technology and e-commerce for a group founded in the 1950s.