Jakarta, 9 March 2021 – The financing company part of the Akulaku Group, PT Akulaku Finance Indonesia, is optimistic about the growth rate of paylater users in Indonesia.
President Director of Akulaku Finance Indonesia Efrinal Sinaga revealed that there are a number of supporting factors that can increase the paylater trend as a life style in the new normal era. One of them is the shift in consumer habits that are completely distancing & digital due to the Covid-19 pandemic.
“The pandemic has become a game changer that has changed people’s habits to become socially distanced & digital, contactless, cashless, including in terms of access to financial services,” he said.
He said that the use of the Akulaku paylater feature is increasingly in demand not only because it guarantees convenience in transactions for the community. However, the use of a paylater provides flexibility for service users in managing cash flow when facing economic pressures due to the pandemic.
In addition, the relatively high percentage of unbanked and underbanked people in Indonesia is an opportunity for paylater service providers to reach the wider community. Moreover, this is also supported by high internet penetration which has reached nearly 75% of the population and a program to improve telecommunications satellite infrastructure towards zero blank spots to rural areas.
“Solid collaboration with a number of e-commerce and banking platform partners will be able to realize our commitment to achieving financial inclusion in Indonesia,” he said.
In the midst of economic challenges due to the Covid-19 pandemic, Akulaku has connected 6 million users to meet various needs through a paylater feature that is integrated into various online shopping platforms.
Currently, the payment option using the Akulaku paylater is connected with various top e-commerce platform partners in Indonesia, such as Bukalapak, Shopee, BliBli, Tiket, JD.ID and various other digital platform partners.
Akulaku Finance recorded growth in financing distribution of more than 40% throughout 2020. Meanwhile, Akulaku’s net non-performing financing (NPF) ratio was well maintained at the level of 0.05%.
Coherent Market Insights research projects that the global paylater market can touch US$33.6 billion in 2027 with a growth rate of 21.2% annually. Meanwhile, the country paylater market in Asia Pacific can grow more rapidly due to the high penetration of smartphones in the region which is considered to be able to bring positive changes to the industry’s growth rate.