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.
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.
“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.
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.
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.
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.
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.
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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