JAKARTA, October 12, 2021 – In accordance with Cashlez’s focus this year on expanding payment options at merchants, this time Cashlez has partnered with one of Indonesia’s fintech lending platforms, Indodana. Through this collaboration, Cashlez merchants can add new payment methods for buyers using paylater from Indodana.
Cashlez CEO, Suwandi, said that delaying payments or paylater services are increasingly in demand and are commonly found in the digital era, especially during the current pandemic. According to McKinsey & Co., for merchants, the buy now pay later service has increased average sales by 45 percent. Therefore, the company focuses on expanding this service as one of the strategies to help merchants increase revenue in the midst of the pandemic.
“The presence of a paylater has now become an alternative payment. In the past, the option for installments was only credit cards, now not anymore and we hope that the presence of the Indodana paylater in the Cashlez application can support merchant transactions.”
According to Suwandi, paylater itself is a consumer lending business that is booming in other countries such as India, China, and Australia. The company also sees the development of the paylater business as an engine for the company’s long-term business growth.
Indodana’s Vice President of Business & Operations, Jerry Anson, said “We are very excited to welcome this partnership. Indodana and Cashlez have the same vision to increase digital transactions and provide benefits for both merchants and buyers; merchants are able to track 100% of payments received digitally and users can access credit more easily and quickly.”
Indodana PayLater is a digital payment system licensed by the Financial Services Authority (OJK) supported by the latest Artificial Intelligence-based risk management, an ISO 27001 certified security system, and a collection process that complies with OJK standards.
Jerry added that Indodana users who shop at Cashlez merchants can use the Indodana paylater with a maximum limit of IDR 25 million. There are loan repayment options that you can choose according to your needs from 30 days, 3, 6 and 12 months. The registration process is safe and fast, only 5 minutes through the Indodana application which can be downloaded on the Google Play Store and Apple App Store.
"We are optimistic that the Indodana PayLater feature in the Cashlez application will provide added value as well as encourage an increase in digital transactions at Cashlez merchants as well as support the acceleration of the digital economy in Indonesia," concluded Jerry.
Cashlez has been trusted by more than 10,000 business players from various sectors, ranging from retail, transportation, logistics, F&B, hotels to tourist areas. Going forward, the company will continue to innovate and improve its services, both in terms of receiving payments and on the funding side, for various MSME sectors in Indonesia.