Indonesia’s leading digital wallet, OVO, has moved closer to becoming a full financial service provider by launching OVO Nabung — a digital savings product. This new feature was created in partnership with Superbank.
This step shows that OVO wants to grow beyond being an e-wallet and payment service. It also wants to compete more strongly in the fast-growing digital finance market.
At a media briefing on Wednesday, Eddie Martono, COO of OVO, explained that the savings product is aimed at GenZ and millennial users who use digital platforms for their daily financial needs.
OVO Nabung offers great benefits, including a 5% annual interest rate, no minimum balance, no fees, and no limit on the account balance.
“These features reflect our strategy to attract younger, mobile-first users looking for flexible, high-yield alternatives to conventional savings,” said Martino.
About the company
OVO is a popular digital wallet and financial services platform in Jakarta, Indonesia. It was launched in 2017 by PT Visionet Internasional, a company owned by the Lippo Group. Since then, OVO has grown quickly and offers more than just payment services, becoming a complete financial technology ecosystem. In 2021, Grab, a well-known company, took control by owning 90% of OVO.
OVO offers many services, such as digital payments, peer-to-peer lending through Taralite, investment options through OVO Invest with Bareksa, and insurance products through OVO Proteksi with Prudential. It also provides Shariah-compliant financial products to meet the needs of different users.
Read more- CarTrade Tech Reports 28% Revenue Growth and 6x Profit Surge in FY25
