Kredivo and Bank Sampoerna Launches "Paylater" Flexi Card
Paylater Flexi Card issued by Bank Sampoerna and Kredivo can be used for offline transactions throughout Indonesia
PT FinAccel Finance Indonesia through Kredivo and PT Bank Sahabat Sampoerna (Bank Sampoerna) collaborated to launch a physical card paylater Flex Card. This card can be used for offline transactions through the National Payment Gateway (GPN) network at millions of outlets throughout Indonesia.
CEO Kredivo Indonesia Umang Rustagi said this collaboration shows the efforts of fintech and banking players in synergizing to provide fast, easy, and affordable financial services amidst the current increasing digital penetration.
"Flexi Card will benefit the segment underbanked in experiencing the ease of access to financial products. At the same time, the Flexi Card is a manifestation of Bank Sampoerna's commitment to digital transformation and collaboration with fintech players in Indonesia," said Umang in his official statement.
Meanwhile, Director of Finance and Business Planning of Bank Sampoerna Henky Suryaputra added, Bank Sampoerna's commitment to digital transformation was also reflected through efforts to increase core capital which increased by more than Rp. ).
Flexi Card is said to have card delivery fees and annual fees for free with no time limit. The interest charged in the Flexi Card transaction is the same as the interest offered Kredivo, which is 0% for 30-day and 3-month tenors, and 2,6% interest per month for 6-12 month installments.
Users can also check and manage Flexi Card transactions through the application Kredivo. In addition, Flexi Card delivery can be submitted via the application dashboard Kredivo by registering a Premium account Kredivo.
Kredivo is a platform that offers instant loans on e-commerce and offline transactions, as well as cash loans.
Meanwhile, Bank Sampoerna is a private bank that targets the development of micro and SME businesses. Recently, Bank Sampoerna also announced its collaboration with KoinWorks to provide services neobanks MSME named KoinWorks NEO.
Co-branding card paylater
Strategy co-branding not new to card products paylater. In addition to introducing brands, both parties can take advantage of each other's ecosystem to increase financial access through digital, especially for segments that are less touched by banking services.
A number of banks and digital platforms in various business verticals have introduced cards paylater. For example, Traveloka collaborates with Mandiri and BRI to launch the PayLater Card.
Recently, BRI and OVO also launched a card OVO U Card where cardholders can enjoy extra rewards and benefits from the ecosystem owned by OVO and Grab. There are also cards paylater launched by Bank Mandiri and Shopee. Users can earn Shopee coins in every transaction.
In a published survey Kredivo some time ago, 90% of e-commerce users have aware to product paylater, where 27% of respondents actively use paylater and half said they would increase their use in the future
This survey also stated that 98% merchant in Indonesia have been connected to digital payment services, of which half have accepted direct digital payment options, such as paylaterand point of sale (POST). Currently, Kredivo has pocketed more than 4 million users or equivalent to 50% of the total credit card users in Indonesia.