Blibli Promotes Financial Inclusion through PayLater Services

by Blibli.com

Blibli has just launched a Blibli Paylater service presence. As the name implies, this service allows users to pay late or in installments for the items they have bought.

To launch this service, Blibli is working with the fintech lending platform Indodana. However, it does not only support user transactions, the company also encourages financial inclusion through this service.

"The presence of this service also supports the holding of Financial Inclusion Month this October. For that, we hope this service will encourage Indonesia to be more inclusive," said VP of Business Development Blibli, William Hadibowo, in a virtual press conference.

Moreover, according to William, there are still very few Indonesians who have access to credit. Therefore, the Blibli PayLater service is expected to reduce this gap and at the same time accelerate economic recovery during a pandemic.

In addition, the Blibli PayLater service comes with an easier onboarding process. This is because the entire process can be accessed directly through the Blibli application and later users can get a balance of up to IDR 8 million.

However, William said Blibli and Indodana already have a whitelist of users who can use this service, so that only users on the list have PayLater access.

"This service also offers low interest, only two percent. This is done because the initial goal of this service is to help people make payments," William continued.

For information, Blibli has just launched a new payment option on its platform, namely Blibli PayLater. This service exists in collaboration with the fintech lending platform Indodana.

According to Blibli's VP of Business Development, William Hadibowo, the presence of this service is Blibli's effort to facilitate digital transactions that are currently developing, especially during a pandemic.

"The reason we launched it this year is because the momentum is right. Currently, digital transactions continue to rise, so PayLater is expected to serve a growing market," he said during a virtual press conference.

As the name implies, this service allows Blibli users to buy goods in installments, without using a credit card, as well as helping people who don't have access to these financial services.

William said, Blibli Paylater is designed to make it easier for customers to make payments, especially when compared to traditional payments. The reason is that all transactions are carried out directly on the Blibli application.

Thus, users no longer need to bother switching applications when making payments. Users can also find out balances and transactions directly from the pages available in the application.

Since it was launched for the first time, this service has also received a positive response from Blibli users. This, according to William, can be seen from the number of average users who increase every month. "Every month our PayLater users increase by 63 percent on average. With this number, it means our products are accepted by the market," he explained.

Not only that, transactions using PayLater have also increased by up to 3.5 times compared to other lending products in Blibli. The rate of growth in the adoption of this service is also three times greater than that of other lending products on the market.

William also explained that this payment option was not only used to make large purchases, but was also used for daily needs. "The three products that are often purchased with this service are sugar, rice and oil. This shows that this payment option does offer convenience for users," he said.

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