# OVO

> Source: https://docs.barcoder.ai/docs/wallets/ovo
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [OVO — official](https://www.ovo.id/)

## Overview

**OVO** is **Indonesia's leading e-money wallet**, originally launched by **Lippo Group** in 2017 + **acquired by Grab in October 2021** (Grab took majority stake) <sup>[1][1], [2][2], [Indonesia report](https://docs.barcoder.ai/docs/payments/ID)</sup>. OVO reached **80+ million users**, valued at **~$2.9 billion**, widely used for **ride-hailing (Grab), food delivery, online shopping, and merchant payments**. Together with **GoPay + DANA + ShopeePay + LinkAja**, OVO forms Indonesia's competitive e-wallet super-app landscape. Indonesia's e-money transaction value reached **~$14.1 billion** with **ShopeePay and OVO being the main players** (per Momentum Works research).

## History

**March 2017 — OVO launches by Lippo Group** <sup>[2][2]</sup>: Originally a closed-loop wallet for Lippo retail ecosystem.

**2018-2020 — Multi-bank + multi-merchant integration** <sup>[2][2]</sup>: Grew beyond Lippo properties.

**October 2021 — Grab acquires majority stake in OVO** <sup>[1][1]</sup>: Becomes Grab's Indonesia financial-services platform.

**2021-2024 — Continued OVO + DANA merger discussions** <sup>[3][3]</sup>: Speculated multi-year merger of two major Ant-backed Indonesian e-wallets to compete with GoPay.

**2024-2025 — Alipay+ enters Indonesia** <sup>[4][4]</sup>: Discussions for Alipay+ Indonesian-merchant acceptance; potential coexistence/competition with OVO + GoPay.

## Ownership & operator

**Operating entity**: **PT Visionet Internasional (OVO)** — Indonesian limited company.

**Majority shareholder**: **Grab Holdings Ltd** (NASDAQ: GRAB) since October 2021 acquisition.

**Other historical shareholders**: **Lippo Group** (founder), **Tokyo Century**, **TenCent** (historically).

**Regulator**: **Bank Indonesia (BI)** — Electronic Money Issuer (EMI) license; **Otoritas Jasa Keuangan (OJK)** for financial-services supervision.

**Valuation**: $2.9 billion (post-Grab acquisition).

## Technical integration

OVO is **Indonesian super-app wallet on QRIS national rail** <sup>[2][2], [qris-cro]</sup>:

| Layer | Description |
|---|---|
| **Channel** | OVO app (iOS + Android) + embedded within Grab app |
| **Identifiers** | Phone number + OVO ID + QR code |
| **National QR** | **[QRIS](https://docs.barcoder.ai/docs/standards/qris)** universal acceptance |
| **Settlement** | Indonesian interbank + Grab ecosystem |
| **Grab ecosystem integration** | Native payment for GrabFood + GrabRide + GrabMart + GrabExpress |

## Users & growth

**Indonesia (2025)** <sup>[2][2], [4][4]</sup>:
- **Users**: 80+ million
- **Indonesia e-money transaction value (recent)**: ~$14.1 billion (ShopeePay + OVO main players)
- **Valuation**: $2.9 billion (post-Grab acquisition)

## Use cases

**P2P transfers** <sup>[2][2]</sup>: Cardinal use.

**Merchant QR payments via QRIS** [[qris-cro]]: Universal Indonesian merchant acceptance.

**Grab ecosystem payments (GrabFood, GrabRide, GrabMart, GrabExpress)** <sup>[1][1]</sup>: Native Grab payment.

**Online shopping (Tokopedia, Bukalapak, others)** <sup>[2][2]</sup>: E-commerce.

**Bill payment + utilities** <sup>[2][2]</sup>: Indonesian services.

**Mobile top-ups** <sup>[2][2]</sup>: Multi-MNO.

**Lippo Mall retail (heritage)** <sup>[2][2]</sup>: Original closed-loop use case still active.

**Investments + insurance** <sup>[2][2]</sup>: Multi-product financial services.

## Implementations & partners

**Operator**: **PT Visionet Internasional**.

**Majority shareholder**: **Grab Holdings Ltd**.

**Historical shareholders**: Lippo Group, Tokyo Century, Tencent.

**National QR rail**: **[QRIS](https://docs.barcoder.ai/docs/standards/qris)** (BI + ASPI national standard).

**Major Indonesian competitors**:
- **GoPay** (GoTo Financial).
- **DANA** (Ant-backed).
- **ShopeePay** (Sea Group).
- **LinkAja** (state-owned consortium).

**Regulator**: BI + OJK.

## Fun facts

- **Launched March 2017 by Lippo Group** as closed-loop retail wallet.
- **October 2021 Grab acquisition** — became Grab's Indonesia financial-services arm.
- **80M+ users + $2.9B valuation**.
- **Indonesia e-money market $14.1B** with ShopeePay + OVO as main players.
- **OVO-DANA merger speculation persists** for years — both Ant-backed wallets potentially combining vs GoPay.
- **Grab ecosystem integration** — OVO is default Grab Indonesia payment.
- **Lippo Group heritage** — major Indonesian conglomerate, original closed-loop integration.
- **Tencent's historical OVO stake** — illustrates Chinese-fintech competition in Indonesia.

## Comparison

| Feature | OVO | GoPay (ID competitor) | DANA (ID, Ant-backed) | ShopeePay (ID) | [GCash](https://docs.barcoder.ai/docs/wallets/gcash) (PH analogous) |
|---|---|---|---|---|---|
| Operator | **PT Visionet Internasional (Grab-majority)** | GoTo Financial | DANA (Ant-backed) | Sea Group | G-Xchange (Mynt) |
| Country | Indonesia | Indonesia | Indonesia | Indonesia | Philippines |
| Users | **80M+** | Major | Major | Major | 81M |
| Heritage | Lippo Group (retail) | GoJek (ride-hailing) | Ant Financial JV | Sea Group (Shopee) | Globe Telecom (telecom) |
| Major investor | **Grab Holdings** | GoTo + Tencent | Ant Financial | Sea Group | Globe + Ant + Ayala + MUFG |
| Valuation | **$2.9B** | n/a | n/a | n/a | $5B |

## Status

**Active, leading Indonesian wallet** <sup>[1][1], [2][2]</sup>:
- **PT Visionet Internasional operator** since 2017; Grab majority since October 2021.
- **80M+ users + $2.9B valuation**.
- **QRIS-integrated universal Indonesian merchant acceptance**.
- **Indonesia e-money landscape: OVO + ShopeePay main players** ($14.1B market).

## Sources

[1]: https://finovate.com/grab-takes-majority-stake-in-e-payment-service-ovo/ "Grab majority stake OVO — Finovate"
[2]: https://www.transfi.com/blog/indonesias-e-wallets-ovo-gopay-dana-explained "ID e-wallets explained — Transfi"
[3]: https://finance.yahoo.com/news/indonesia-ovo-close-merger-dana-102938553.html "OVO-DANA merger discussions — Yahoo"
[4]: https://thelowdown.momentum.asia/indonesias-e-money-transactions-reached-us14-1-billion-with-shopeepay-and-ovo-being-the-main-players/ "ID e-money $14.1B — Momentum Works"
[id-cro]: https://docs.barcoder.ai/docs/payments/ID
[qris-cro]: https://docs.barcoder.ai/source/standards/qris

- [1] [Grab majority stake OVO — Finovate][1]
- [2] [ID e-wallets explained — Transfi][2]
- [3] [OVO-DANA merger discussions — Yahoo][3]
- [4] [ID e-money $14.1B — Momentum Works][4]
- <sup>[Indonesia report](https://docs.barcoder.ai/docs/payments/ID)</sup> In-corpus: `reports/countries/ID-indonesia.md`
- [qris-cro] In-corpus: `reports/standards/qris.md`

## Source

Biography extracted from [ovo.md](https://docs.barcoder.ai/source/wallets/ovo). See `matrix.md` for standards-support matrix if present.