What is OVO? Understanding OVOs And Their Functions and Strengths

Nowadays online payment transactions are increasing, so the use of E-money is also increasingly in demand by the public. Because the user is very easy and efficient so the payment process is fast. E-money or E-wallet is a means of payment in which money is stored in a medium and is used to make payments digitally.

The habit of the people who previously had many transactions in cash, now has changed to online payment transactions or commonly called cashless . One of the products of E-wallet or digital wallet that is widely used by the people of Indonesia today is OVO.

table of contents

  • Definition of OVO
  • Function and Use of OVO
    • OVO Cash
    • OVO Points
  • OVO Strengths and Weaknesses
    • OVO Advantages or Benefits
    • Offering many attractive cashback promos
    • Easy when top up OVO balance
    • The existence of loyalty rewards in the form of points
    • Have a lot of merchants
    • Lack of OVO
    • OVO Points have an expiration date
    • Bank transactions are subject to admin fees
    • The billing service is not complete
    • There is no maintenance notification

Definition of OVO

If you are asked a question, what is OVO? Maybe most people will answer that OVO is an application that makes it easy to transact and often provides a lot of promos and cashback.

Well, an answer like that is not wrong because it is like that right. At present, the level of online payment transactions is increasing, most people more often and prefer to transact online because it is easier, more efficient, and faster.

OVO is a smart application that makes it easy for its users to make transactions and payments online. However, unfortunately not all shops or places serve payment using OVO. The OVO application can be used to transact only in stores or merchants that are marked with OVO Accepted Here or only applications that already have collaboration with OVO can be used.

Examples of applications that currently work with OVO such as Tokopedia, Grab, MatahariMall.com and others. You can see a list of merchants that are incorporated in the OVO application. OVO has 2 types of membership, namely OVO Club and OVO Premier. The following explanation:

  • OVO Club– maximum balance of IDR 2,000,000 and maximum top up of IDR 1,000,000
  • OVO Premier– maximum and maximum top up balance of IDR 10,000,000. Free transfers between users and to all banks.

If you want to upgrade to the premiere OVO it’s very easy, please take a photo of your KTP via the OVO app and select the nearest OVO Booth location to meet all OVO agents.

Function and Use of OVO

OVO is a digital payment application platform that can be used at various merchants or stores that work together with the OVO application itself. You can easily find out whether the store is cooperating or not with OVO, you can immediately check whether there is a sign, such as a purple board that reads OVO Accpeted Here which is usually displayed in front of the merchant or store.

For you OVO application users are not only assisted in transactions, but you can also enjoy the convenience and smooth payment with non-cash or cashless. And you can also get OVO Points from trading at merchants or stores with them, not only can you enjoy the convenience and smooth payment without having to use cash, but also get OVO Points by transacting at stores or merchants with OVO Zone signs.

OVO offers deals in two methods of transactions: OVO Cash and OVO Points. Each method has its own functions and uses.

  1. OVO Cash

In general, OVO Cash is used to make various payments to merchants or stores that have worked with OVO. OVO Cash can be topped up, you can top up your OVO balance. You can fill it out through ATMs, debit cards, credit cards, or through the GRAB driver or Tokopedia. Anad can refill or add to your OVO Cash balance through ATMs, credit cards, debit cards, OVO Booth or through Grab or Tokopedia driver partners.

OVO Cash can also be used for a variety of financial transactions, such as:

  • PLN electricity payment
  • Purchase of PLN credit / token
  • Top up in various providers
  • Invest in OVO Invest
  • Paying at various merchants or online and offline stores
  • And so forth

There are several merchants or stores, when after you make a transaction using OVO Cash, you can get rewards in the form of OVO points. However, not all merchants or stores, only selected merchants from the OVO.

  1. OVO Points

OVO Points are loyalty rewards that will be earned by OVO users after making transactions at various merchants or stores that are OVO partners. Requirements to get OVO Points usually you have to make a transaction of at least only IDR 10,000. Usually OVO Points are earned when you get cashback.

Then, what are the functions and uses of OVO Points themselves? OVO Points as well as OVO Cash can be used to make payment transactions at merchants or stores that work with OVO, by using OVO Points users can also get various attractive offers. Examples of offers that you can get by exchanging OVO Points such as discount coupons or discount vouchers. When you make payments using OVO Points, you can say you are paying them for free or discounted because you are not using OVO Cash balance.

Then, what is the value of 1 OVO Points when exchanged in rupiah? This is one of the benefits of OVO Points, each time you get 1 point means the value is equal to Rp 1. If you have 100,000 OVO Points, it means you have Rp 100,000.

However, you need to remember OVO Points have a validity period or an expiration period of 18 months after you first get it. If you make a transaction using OVO Points, you will not get OVO Points again. So that means you can only get OVO Points if you previously made a payment transaction using OVO Cash.

Then, what products can use OVO Points balance? Here are some examples of products that you can buy using OVO Points:

  • Buy credit with OVO Points in the OVO app
  • Trade on Grab applicationsusing OVO Points (such as, GrabFood, GrabBike, GrabCar, and GrabExpress)
  • Shop on the Tokopedia app (not all items, only certain items)
  • Shop at merchants or stores that work with OVO

OVO Strengths and Weaknesses

For those of you who are more comfortable and accustomed to making transactions without using cash, OVO is the right choice for those of you who like to make buying and selling transactions. Not only makes it easy for you to make cashless transactions, but OVO also provides attractive promos. The following advantages or advantages you can get by using OVO:

OVO Advantages or Benefits

  1. Offering many attractive cashbackpromos

Besides you can trade without using cash or cashless , you can often get cashback promos . Cashback given usually starts from 10% to 70% depending on the merchant or shop.

If you are a new user or first time trading, you will usually get 100% cashback with a minimum spend of IDR 25,000 with OVO Cash and get a cashback bonus of 25,000 OVO Points.

  1. Easy when top upOVO balance

OVO also provides convenience for its users in replenishing balances. You can fill OVO balances in various ways, through ATMs, mobile banking, credit cards, debit cards, OVO Booth and even Grab drivers.

  1. The existence of loyalty rewardsin the form of points

As explained earlier, if you trade using OVO Cash, you can also get OVO Points. You can collect points from transactions at OVO merchants. Then, these points can be exchanged for various discounts or other exclusive promo deals.

  1. Have a lot of merchants

OVO currently has many merchant partners spread throughout Indonesia including Tokopedia, Hypermart, Cinemaxx, Books & Beyond, MatahariMall.com, and many more.

Lack of OVO

Besides having advantages and advantages, OVO also has several disadvantages. The following are some of the disadvantages of OVO:

  1. OVO Points have an expiration date

OVO Points that you get after making transactions using OVO Cash have a fairly short expiration period. The validity period of OVO Points is only up to 18 months. If you don’t use it until then, your OVO Points will be forfeited.

  1. Bank transactions are subject to admin fees

In the past, when a new OVO appeared, all bank transactions were not subject to admin fees at all. But over time, OVO imposes an admin fee of Rp 3,000 for each bank transaction.

  1. The billing service is not complete

At present OVO has not provided services in the form of PGN’s PDAM and Gas bills. But, for other payment services such as PLN, BJS, Cable TV, Insurance, and environmental fees are available on the OVO application.

  1. There is no maintenancenotification

The OVO application at this time still does not notify if the application is being carried out maintenance . So, users still feel confused if suddenly maintenance occurs .

Thus this article discusses the definition of OVO, along with its functions and uses, as well as the advantages and disadvantages of OVO applications. Hopefully this article can be useful for you. Thank you


by Abdullah Sam
I’m a teacher, researcher and writer. I write about study subjects to improve the learning of college and university students. I write top Quality study notes Mostly, Tech, Games, Education, And Solutions/Tips and Tricks. I am a person who helps students to acquire knowledge, competence or virtue.

Leave a Comment