OVO is a leading Indonesian payments, rewards and financial services platform. OVO is now available in 115 million devices with access to payments, transfers, cash-in/out, rewards, asset management and investments.
“SHIELD has been a great complement to our cybersecurity measures. We are greatly excited to onboard SHIELD as a fraud prevention partner that could keep pace with our rapid growth, while ensuring that the platform is safe and secure.”
Harianto Gunawan, Director of Enterprise Payment, OVO
Leading Payments Platform with 60 million users
OVO is Indonesia’s leading payments platform, used by more than 60 million consumers across 354 cities and towns. It is the number one e-wallet in Indonesia, leading in Total Payments Volume (TPV). OVO’s ubiquitous network includes millions of retail shops, convenience stores and Grab drivers, allowing its 60 million users to make payment easily and securely.
Rapid growth makes lucrative target for cybercriminals
Mobile payments have grown in popularity globally, and have become increasingly vulnerable to fraud attacks. OVO was no exception, and its rapid growth made it a target for fraudsters who were looking for profitable avenues. OVO needed a solution that could not only address its fraud concerns, but also secure all of its current – and ever-growing – millions of users.
OVO takes its users’ security very seriously, and wanted to ensure that their platform is a secure space for their users and merchants to transact.
End-to-end comprehensive protection from payments to accounts
SHIELD adds to OVO’s existing commitment to user privacy by providing an end-to-end comprehensive fraud protection for OVO and its millions of users. SHIELD’s sophisticated machine learning technology is used to strengthen the security of OVO’s platform by securing user accounts, preventing unauthorized payments and preventing the abuse of promotional discount codes, among various potential fraud cases.
SHIELD provides an instant, scalable and automated solution that supports OVO’s rapid growth, and empowers OVO to scale on demand during promotional periods with ease. In addition, SHIELD’s solution is deployed passively, and will have no effect on the user’s surfing experience while still providing complete protection, giving OVO the best of both worlds.