OVO Becomes a Payment Option on Google Play; Presents Cash Withdrawal Feature on BCA ATM Network

Application e-money OVO can now be used to make payments or purchase items on Google Play. Users can now find the "Add OVO" option in the payment method section. Previously e-money Other local communities that have also entered the Google Play ecosystem are Gopay (since 2019), DANA (2021), ShopeePay (2021), and DOKU (2021).

They flocked to be present as a payment service on Google Play not without reason. The turnover there is huge, if you open up on Alphabet Inc's financial statements. as of Q3 2021 Google Services (including Google Play) generates revenue $59,8 billion.

Especially in the era Esports like today, digital asset commodities in game also become one of the most traded goods. According to Sensor Tower data, this year Moonton has generated $69,2 million transactions just from Mobile Legend in Indonesia.

Besides that, e-money become an alternative payment system in the midst of the low penetration of debit/credit cards in Indonesia [used for payments in digital services]. In addition, Google has actually been working with local telecommunications operators for a long time to allow users to make application payments through a credit cut scheme.

Sebagai e-money The first to integrate a payment system into Google Play, Gopay has experienced a rapid increase in transactions in the past year. From internal data Gojek throughout March-May 2020 shows that Gopay is widely used for purchasing coupons game with a 3x increase. Free Fire, Mobile Legends, and PUBG Mobile applications are the favorites based on the number of payments.

Present a cash withdrawal option at BCA ATMs

Today (16/12) OVO also launched the OVO Cash cash withdrawal feature that can be done at 17 ATM networks belonging to Bank Central Asia (BCA) throughout Indonesia. Previously Gopay too do the same integration, allows users to make cash withdrawals through the BCA ATM network.

OVO President Karaniya Dharmasaputra explained that this synergy departs from the common vision of the two companies to expand modern, safe and inclusive financial services for all Indonesian people.

users OVO can withdraw the balance with a minimum withdrawal amount of 50 thousand Rupiah and a maximum of 10 million Rupiah per day. This feature can be used every day by OVO users and will be subject to an admin fee of 5 thousand Rupiah for each withdrawal.

The presence of this feature is reinforced by an analysis from the Boston Consulting Group which states that digital payment services such as OVO are used by 26 percent of people who do not have bank accounts. (unbanked) and 14 percent of the population who have bank accounts but still face limited access (underbanked), as a means of payment that is convenient, safe and able to support their daily activities.

Improve integration with banks

Previously, in early December 2021, OVO had just inaugurated its collaboration with BRI to launch credit cards co-brands OVO U Card. The expansion of the ecosystem through strategic partnerships is indeed an important step that is being intensified by all fintech industry players. Moreover, banks are also starting to place their position as enablers, to empower players like OVO with a wider range of services – through Bank as a Services or embedded finance.

This model of cooperation becomes a symbiotic mutualism. From the platform side, benefits The results obtained are clear in the expansion of access to financial services. As for banks, it allows them to increase transactions from new user segments that may not have been served before. In addition, the concept data sharing at level backend will also improve the analysis and scoring capabilities of each platform, so that they can provide better services customized to customers and potential customers.