Indonesian Technology Companies Go To Group The company expanded its partnership with TikTok and introduced a “buy now, pay later” (BNPL) service. Pay Lateron TikTok’s ShopTokopedia platform.
This is TikTok Acquisition The company completed its acquisition of Tokopedia in January this year and aims to revive its e-commerce business in Indonesia.
GoPay Later users will now have access to a simplified credit process, including a data verification step using facial recognition to activate GoPay Later on ShopTokopedia.
The service offers no minimum transaction amount, a credit limit of up to 10 million Indonesian rupiah (approximately US$613), and flexible repayment terms ranging from 1 to 12 months.
Indonesia has more than 97 million unbanked adults who lack access to safe financial services.
GoTo Financial, the finance arm of GoTo Group, is looking to bridge this gap with GoPay Later.
In the first quarter of 2024, GoTo Financial’s consumer lending business, including BNPL and cash loan products, grew significantly, with its outstanding loan balance reaching Rp2.7 trillion (US$165.5 million), up 43% from the previous quarter.
Hans Patwo, COO of GoTo Group, said:
“GoPay Later complements the availability of GoPay as a convenient payment method on TikTok’s ShopTokopedia, providing users with a wider range of financial services on the ShopTokopedia platform while enabling both GoPay and TikTok to further drive business growth.”
“Tokopedia is a game changer,” said Melissa Siska Juminto, president director of Tokopedia and TikTok Ecommerce.
“We are proud to work with GoTo as a strategic partner as we expand our services to Indonesian consumers and contribute more broadly to the country’s digital economy.”
“GoPay Later on ShopTokopedia will enable us to offer flexible payment options to more retailers and small businesses, helping them provide a more seamless shopping experience for their customers.”
