Kredivo Presents Paylater at Mitra Adiperkasa (MAPI) Outlets
In order to facilitate the increasing demand for fashion. The company announced a strategic partnership with PT Mitra Adiperkasa Tbk.
(MAPI) Kredivo General Manager Lily Suriani said the company’s internal data showed an increase in transaction value of more than 50 percent in the fashion category in 2021 when compared to 2020.
According to him, this is because people are increasingly paying attention to their appearance because the majority have returned to their activities outside the home.
“This partnership with MAP is an important step to facilitate this and is our commitment to make it easier for users to shop with MAP, a lifestyle company that has more than 2,600 outlets in 81 cities,” he said in a release, Thursday (3/2/2022).
Currently, Kredivo can be used as a payment method at several MAP fashion outlets. In the future, according to Lily, Kredivo will expand its services by cooperating with more other MAP brands.
Lily explained, with this collaboration, people can choose the desired product and checkout using Kredivo, then choose the desired payment tenor, namely 0 percent interest for payments within 30 days and 3 months installments, or 2.6 percent interest per month for 6 installments. , or 12 months.
“The public can also enjoy a cashback voucher promo worth IDR 100,000 for transactions at MAP using our platform,” said Lily.
The Development of the Fintech Industry in Indonesia
Talking about the fintech industry in Indonesia, of course, there is always some interesting news in it. The development of the fintech industry which is growing very rapidly is triggered by many things.
The latest, one of which is the findings from the DSInnovate report which states that the country’s GMV (Gross Merchandise Value) value of US$70 billion is believed to be one of the reasons fintech is becoming increasingly popular in Indonesian society.
The form of fintech in Indonesia comes with a variety of services. Among the existing services, one of the services currently favored by Indonesian consumers is the BNPL (Buy Now Pay Later) service.
As the term implies, this service facilitates consumers to enjoy installment facilities without a credit card to shop on e-commerce platforms. When present only in the past few years, the adoption of BNPL services has grown significantly. Of course, it didn’t happen instantly.
The growth trend of e-commerce consumers in Indonesia from year to year, as well as the low level of credit card ownership are the two main factors why paylater services are the mainstay of using credit services – especially for online shopping purposes.
Kredivo Becomes a Pioneer
From these two factors, several BNPL service providers have started to emerge. One of the noteworthy pioneers is Kredivo.
This fintech startup under the auspices of FinAccel – a financial technology company from Singapore has successfully introduced the concept of “Buy Now Pay Later” (BNPL) for the first time in Indonesian society since 2016.
It didn’t take long for Kredivo to emerge as a market leader for the market share that requires consumer credit facilities, without having to have a bank credit card, which until now has very low penetration. This need is further refined by the convenience and flexibility of the services offered.
Not without reason. In his research, Kredivo claims, the paylater users it manages state that they give a good satisfaction response, related to the easy application process, transaction experience, to administrative requirements that tend to be uncomplicated.
The research results are also in line with the paylater credit flexibility offered by Kredivo, with a number of unique selling point products in the form of high credit limits (up to 30 million rupiah), installment tenors of up to 12 months, and the availability of services at more than 1000 merchants in Indonesia.
Not to forget, transaction security and user data are also the focus of product development with security features in the form of encrypted user data. In addition, legally Kredivo has also been officially registered and supervised by the OJK.