With OVO approaching its two-year mark in September, The Asian Banker caught up with its CEO, Jason Thompson, to discuss his views on doing business in Indonesia, plans on growing the company, the role of partnerships and the useful lessons learned from China.
August 15, 2019 | Foo Boon Ping- Architecture and ecosystem are the two fundamental things that contributed to OVO’s success
- The reason OVO gets to scale and drive inclusion lies within its partnerships
- Some of the concerns in doing business in Indonesia are scalability, localisation and lack of infrastructure
OVO is moving towards financial inclusion, introducing an ecosystem that enables a wider spectrum of customers to obtain access to quality financial products and services with competitive pricing.
Its journey began in Indonesia back in 2016 as an app that offered payments, loyalty points and financial services backed by Lippo Group’s digital arm. The next year, Jason Thompson joined Grab Financial Group and by December 2017 was appointed to lead OVO’s financial service business.
Before joining Grab, he was leading Euronet’s EMEA and Asia’s business since 2011 where he developed Euronet’s e-pay services into a key product vertical. By 2016, he was heading to Southeast Asia with something different in mind. But a call from Anthony Tan, founder of Grab, convinced Thompson to go in another direction.
On October 2018, OVO announced its partnership with Tokopedia, the Indonesian e-commerce unicorn. Aside from the capital injection it received from Tokopedia, OVO is also made available as a payment option in Tokopedia’s e-commerce marketplace. The move added 80 million more active monthly users to OVO’s then existing user base of 60 million.
In a joint press release from OVO and Tokopedia, Thompson stated “Having established ourselves as the number one mobile payments platform by transaction volume, this partnership with Tokopedia and our push into e-commerce will further accelerate our growth. We expect the surge in new users and additional transactions from e-commerce to drive overall leadership across the board”.
In this conversation, Thompson talks further about working closely wi...
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With OVO approaching its two-year mark in September, The Asian Banker caught up with its CEO, Jason Thompson, to discuss his views on doing business in Indonesia, plans on growing the company, the role of partnerships and the useful lessons learned from China.
August 15, 2019 | Foo Boon Ping- Architecture and ecosystem are the two fundamental things that contributed to OVO’s success
- The reason OVO gets to scale and drive inclusion lies within its partnerships
- Some of the concerns in doing business in Indonesia are scalability, localisation and lack of infrastructure
OVO is moving towards financial inclusion, introducing an ecosystem that enables a wider spectrum of customers to obtain access to quality financial products and services with competitive pricing.
Its journey began in Indonesia back in 2016 as an app that offered payments, loyalty points and financial services backed by Lippo Group’s digital arm. The next year, Jason Thompson joined Grab Financial Group and by December 2017 was appointed to lead OVO’s financial service business.
Before joining Grab, he was leading Euronet’s EMEA and Asia’s business since 2011 where he developed Euronet’s e-pay services into a key product vertical. By 2016, he was heading to Southeast Asia with something different in mind. But a call from Anthony Tan, founder of Grab, convinced Thompson to go in another direction.
On October 2018, OVO announced its partnership with Tokopedia, the Indonesian e-commerce unicorn. Aside from the capital injection it received from Tokopedia, OVO is also made available as a payment option in Tokopedia’s e-commerce marketplace. The move added 80 million more active monthly users to OVO’s then existing user base of 60 million.
In a joint press release from OVO and Tokopedia, Thompson stated “Having established ourselves as the number one mobile payments platform by transaction volume, this partnership with Tokopedia and our push into e-commerce will further accelerate our growth. We expect the surge in new users and additional transactions from e-commerce to drive overall leadership across the board”.
In this conversation, Thompson talks further about working closely wi...
Categories:
Keywords:
