Ovo expands its PayLater service and now available for offline merchant. It should’ve broaden the access to millions of Indonesian people, also to support retail development.
Ovo PayLater is officially launched exclusively on Tokopedia in early 2019. The concept was limited to the transactions within Tokopedia ecosystem.
Ovo’s Head of Strategy and Innovation Lab, Abraham Viktor explained, the PayLater is now available in app and ready for transaction in offline merchant. The tile project will be available gradually.
He ensured, in the third quarter of 2019, the service will be available in all user devices. The Paylater should be useful as credit for payment according to the limit, start from Rp10 thousand to Rp10 million. Currently, there are 115 million devices connected with Ovo.
“Users can make transactions, and manage cash flow using Ovo app. PayLater service is available in 200 thousand modern merchants,” he said, Fri (5/10).
In order to apply for Ovo PayLater, users are required to have Ovo account as Premium member, fill out the profile before submitting to Ovo. The activation process is said to take only 5 minutes and 14 seconds of approval.
“We designed this feature for up to 5 minutes of consumer’s experience. Start from the first activation to the submission. The approval will be issued within a minute. It’s fast because we have no manual intervention.”
Users can use the credit for purchasing on Ovo’s merchants and pay the bills at the end of the month. They can change the payment options to Ovo PayLater while scanning the barcode in merchant.
In July 2019, there will be installment service up to 12 months. The interest is similar to credit card. Payment can be made by Ovo balance or bank transfer. He also mentioned Ovo PayLater is getting available for Grab by two months.
Viktor said, Taralite is still running and available for business outside Ovo’s ecosystem. He remains the CEO of the company. The acquisition rumour over Taralite has spreading since last March. There’s no confirmation of the detail, but all Taralite employees are now working in Ovo’s office.
“Using Ovo, our business coverage is broaden. However, we’re still open for other business,” he said to DailySocial.
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Original article is in Indonesian, translated by Kristin Siagian
