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.

Lippo tycoon looks to young gun grandson to build digital empire (c) Jun Suzuki

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. 

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