Indonesia mobile payment platform LinkAja is tapping the digital credit card field as it is currently preparing to release its PayLater feature in collaboration with Kredivo, Daily Social reports.
The feature allows customers to transact through installment programs. Kredivo will also be integrated as one of the payment methods in LinkAja’s app.
LinkAja CEO Danu Wicaksana declined to reveal details about the new feature, but he said that it will be launched sometime this month. According to Wicaksana, LinkAja will partner with several other fintech platforms besides Kredivo, giving customers more options for payment portals. “LinkAja wants to provide the best choices for customers,” he said.
Before LinkAja, other platforms like GoPay and Ovo have introduced the same feature to the public. Dana will reportedly to launch a similar product soon, in collaboration with online multi-finance platform Akulaku. Users need to upgrade their membership, fill in a digital form, and share their ID photo before qualifying for the service.
PayLater is a relatively new innovation that has been attracting millennial customers in Indonesia lately. According to the 2019 Fintech Report by Daily Social, PayLater is ranked as the third most popular fintech product this year, after mobile wallets and online investment platforms.