Bukalapak Strengthens Partnership with Akulaku to open installments

Bukalapak and Akulaku confirm presence OpenInstalment to make it easier for users to transact on the Bukalapak application in installments without using a credit card. Bukalapak will continue to develop other payment solutions to make it easier for Indonesians to connect with e-commerce services.

"Bukalapak wants to work together long term with Akulaku. From our side there will be a lot of system development and more promotions so that more and more Indonesians can shop online. Next year this product will be even better than now," said the Head of Payment and Financial Services Bukalapak Destya Danang Pradityo, Wednesday (24/10).

Destya explained, currently the BukaCicilan registration process takes a maximum of 3 hours. It is hoped that next year the process can be shortened to only 5 minutes.

Bukalapak is ready to simplify the BukaCicilan billing process so that it can go directly through the application with various payment options available. Currently, installment payments are made through BukaCicilan via bank transfer or convenience store.

"Bukalapak continues to perfect the system for BukaCicilan. For the process collectingher, we want to help Akulaku to make billing easier. It is possible that later in the first quarter of next year, BukaCicilan users will be able to pay their bills simply from Bukalapak."

Since it was first rolled out to the public in mid-August 2018, Destya revealed that BukaCicilan every day receives around 1000 applications organically without any marketing strategy. Roughly speaking, BukaCicilan has processed around 71 applications so far.

From this figure, GMV coming from BukaCicilan is claimed to reach around Rp. 10 billion. Destya hopes that this number will continue to grow along with the inauguration of BukaCicilan products to the public and the start of the marketing strategy that has been prepared.

He targets at least at Harbolnas later GMV through BukaCicilan can increase at least 10 times, or around Rp. 100 billion in order to contribute to Bukalapak's GMV. The company's monthly GMV has now reached IDR 4,5 trillion.

Director also expressed great expectations Akulaku Sheikh Liang. According to him, with the inauguration of BukaCcilan, Akulaku can continuously accept new users coming from Bukalapak. He hopes the number of applications that enter each day can exceed 3 thousand.

"Since it was launched last August, BukaCicilan has been well received and has received a positive response from the public. Because they can now enjoy credit facilities for daily online transactions and do not disturb them," said Sheikh.

BukaCicilan provides a limit starting from Rp. 3 million to Rp. 25 million. The interest paid every month is claimed to be quite competitive, namely 1,5%, and the tenor varies from 1, 2, 3, 6, to 12 months. Bukalapak users do not need to pay an advance for purchasing goods with a nominal value of under Rp. 200 thousand.

To register as BukaCicilan users, consumers only need a Bukalapak account with a verified mobile number. Consumers must be Indonesian citizens, aged between 21 to 50 years, domiciled in Java, and have a steady income every month.

"Akulaku will expand the scope of BukaCilan services to outside Java Island. We plan to implement this next year. Slowly we will target consumers in Sumatra, Kalimantan and Bali," concluded Syeki.