Challenges

- Bookeeping for MSMEs (keeping more consistent records)
- Additional payment option (noncash and no need changes)
- Have access to financial services (bank account)

Primary target

Which group does your product/service primarily target?

Description of Innovation

The study showed that the majority of the MSMEs surveyed found joining OVO to be beneficial. Interestingly, the benefits went beyond that of simply facilitating cashless payment for customers as an alternative to traditional payment. The majority of respondents reported gains after joining the OVO digital payment platform, ranging from higher daily transactions and revenue, to more frequent use of banking services. Impact of digital payments in strengthening the resilience of Indonesian MSMEs during the pandemic

Results

The study concluded that joining the OVO digital platform delivered a positive impact for MSMEs that went beyond the initial benefit of the cashless payment function. This suggests that digital payment platforms can potentially help drive digital transformation among Indonesian MSMEs by serving as a ‘digital gateway’ that allows them to connect to the wider ecosystem, thereby improving their resilience for better long-term outcomes.

Lessons Learnt

- Better infrastructure (internet)
- Better financial literacy
- Better digital literacy

- QRIS: one of the enabler for nano, micro and small merchant to adopt digital payments