Increased in the middle of Pandemic, Bukalapak Collaborates with Kredivo
The e-commerce company Bukalapak noted an increase in demand during the corona pandemic. One of the unicorns of this country is also cooperating with financial technology finance company (fintech lending) Kredivo to provide payment services with one-click installments or Zero-click Checkout.
Covid-19 pandemic made it a habit for people to switch to online transactions. That is because of the social distancing appeal as well as efforts to prevent the spread of the coronavirus (Covid-19).
This feature allows users to buy goods in e-commerce, without the need to log in or move to another application. Users have to choose Kredivo as the payment methods when they are in the checkout process. This way, the orders will be paid automatically without leaving the application.
Users can also choose payment with 0% interests in 30 days. It can also be paid in installments for a year with an interest of 2.95% per month. Kredivo General Manager Lily Suriani said Kredivo was enthusiastic because he could implement the feature in BukaLapak as an innovative company that put forward technology.
Zero-click Checkout Allows Higher Profits
Kredivo General Manager Lily Suriani claims merchants who adopt the Zero-click Checkout feature will benefit from a higher level of retention and gross merchandise value (GMV).
“This zero-click makes anyone who has smartphone access and needs a seamless, safe, and comfortable purchase transaction. Now users can access it in Bukalapak quickly wherever they are, “Lily said in an official broadcast Thursday, (11/6).
Based on McKinsey’s research in May, consumer digital activity during the coronavirus pandemic increased by more than 30%.
Respondents claimed that they often met their daily needs and ordered food online. Whereas Kredivo’s research with International Data Corporation (IDC) in 2019 shows, friction or disruption during payments causes the abandoned cart rate in Indonesian e-commerce to be one of the highest in the world.
An abandoned cart is a condition where a prospective buyer in an online store has chosen an item but does not check out the transaction.
Bukalapak’s Director of Payment, Fintech, and Virtual Products, Victor Lesmana, said that the company always prioritizes the ease, security, and convenience of users’ transactions.
Collaboration with Kredivo is part of corporate innovation. “We are dedicated as one more financial solution that enables seamless, safe, fast, and easy transactions for a total of 92 million of our users,” said Victor.
Bukalapak said that 50% of transactions through Kredivo payments on its platform use the Zero-click Checkout feature. This drives a 30% transaction success rate.
Bukalapak also Helps Empower MSMEs in Indonesia during the Pandemic
In addition to providing transaction convenience for users, Bukalapak also participated in the #BanggaBuatanIndonesia National Movement which was launched on May 14, 2020. The purpose of this movement is to empower MSMEs in the midst of this pandemic.
In addition to empowering MSMEs, this movement has also significantly increased visits to the Bukalapak platform.
Based on Bukalapak’s official information received by Liputan6.com, Monday (06/15/2020), people’s enthusiasm was seen in the categories of men’s and women’s fashion, children’s fashion and household products as the most sold products.
Bukalapak VP of Merchant Kurnia Rosyada said, during this pandemic, there was a significant increase for people in online shopping.
“Overall, we gained a significant growth of around 15-20 percent, although we also saw the business of some of our traders go down as well. For this reason, it was important for us to look at this opportunity, and partner with MSMEs in Indonesia to take advantage of the opportunities available,” he said. Kurnia.
He further mentioned, with the Proud of Indonesian-Made campaign and the spirit of cooperation, Bukalapak is committed to maintaining MSMEs and optimizing resources to market local products.