Bukalapak Launches the Bukalapak Paylater Feature

Bukalapak is collaborating with Kredivo to launch the new payment feature Bukalapak Paylater.

Jakarta, TechnoBusiness ID (English Edition) • Bukalapak, one of the leading e-commerce sites in Indonesia, on Monday (3/5) launched a new payment feature, Bukalapak Paylater.

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As the name implies, Bukalapak Paylater is a payment feature that allows users to “buy now pay later” without interest for a 30 days tenor.

In launching the Bukalapak Paylater feature, Bukalapak collaborated with Kredivo, a digital credit platform under the auspices of FinAccel which was founded by Akshay Garg in 2016. [the_ad id=”13590″]

“The Bukalapak Paylater feature supported by Kredivo provides convenience and convenience of transactions for all Bukalapak users,” said Victor Lesmana, President of BukaFinancial and Digital Bukalapak.

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Users only need to add their own identity card and fill in data to activate the Bukalapak Paylater feature. After that, the submissions will be approved in a short time. [the_ad id=”13590″]

Each user will get a limit of Rp500,000 which can be used to shop at Bukalapak with 0% interest for payments within 30 days.

The collaboration between Bukalapak and Kredivo to present Bukalapak Paylater is a step to seize market opportunities according to the recent growing payment trend. [the_ad id=”13590″]

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Globally, based on a study by Coherent Market Insights, a research firm based in Seattle, Washington, US, the market value of buy now pay later is projected to jump from US$5 million in 2019 to US$33.6 million in 2027.

Therefore, Krishnadas, VP of Business Development at Kredivo, hopes that the Bukalapak Paylater feature can help improve Bukalapak’s business according to this year’s projection. [the_ad id=”13590″]

To note, Bukalapak currently has more than 6.5 million online sellers, 7 million Bukalapak Partners, and 100 million users. This community is believed to be the market for Bukalapak Paylater in the future.

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In the end, Bukalapak also stimulated the Indonesian e-commerce market, which according to Bank Indonesia’s forecasts would grow 33.2% this year, higher than last year’s growth of 23.3%.•

—Intan Wulandari, TechnoBusiness ID • Photo: Bukalapak

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