Get to know PayLater, the Interest-Free "Virtual Credit Card" from Go-Jek

Go-Jek launches PayLater, the latest payment feature that allows users to borrow with a certain limit. PayLater is a product from Findaya (PT Mapan Global Reksa) which was developed by PT Mapan Global Reksa (Findaya), incorporated as part of Established. Mapan itself is one of three fintech startups that Go-Jek acquired late last year.

Findaya has obtained a certificate of registration as an organizer lending from OJK. In its business, Findaya has served Go-Jek, Go-Food, Go-Clean, Go-Massage, and Mapan partners with installment facilities for laptops, smartphones and their accessories, and other needs.

In her statement, Go-Jek's Chief Commercial Expansion Catherine Hindra said, for now PayLater can only be enjoyed on a limited basis for Go-Food users. Those who were selected were pre-screened based on the criteria determined by Go-Jek and Findaya, but Catherine did not explain the details.

He likens the PayLater mechanism, which is similar to subscribing to a postpaid telecommunication package. User has limit of use up to IDR 500 thousand and will be charged subscription fee of IDR 12.500 per month.

"Our focus with Findaya is to provide the best experience to selected Go-Food users first. The lessons we learn will certainly be used for the development of subscription features in the future," he told DailySocial.

Regarding the subscription fee, continued Catherine, it will only be billed once every month when using PayLater. If this feature is not used, then the administration fee will not be charged. For the first month, the subscription fee will be free as a promotion.

Catherine also did not provide further explanation when this feature will be rolled out to all Go-Jek users.

Try PayLater

When explored more deeply, PayLater allows users to owe up to a maximum limit of IDR 500 thousand. Bills must be paid at the end of every month Go-Pay.

If it is in arrears, there is no explanation from Go-Jek whether there is interest charged. Go-Jek will only continue to provide notifications starting from the 25th of each month and also every due date until the debt is finally paid off.

DailySocial had the opportunity to try this feature for the first time. The flow is the same as when ordering Go-Food in general, but a PayLater option will appear in the payment options.

When choosing PayLater, the food order fee will automatically be listed, the same as if you choose the payment option by Go-Pay or cash. After the order is received, a notification that the PayLater limit has been reduced will automatically appear. We can choose to pay the bill at any time, since the limit is reduced, until the end of the month.