OJK Reveals Indonesian Citizens' Debt Through Paylater Reaches IDR 21.77 Trillion
JAKARTA - The Financial Services Authority (OJK) noted that the outstanding paylater (BNPL) in banks until November 2024 was IDR 21.77 trillion.
OJK Banking Supervision Chief Executive Dian Ediana Rae said the buy now pay later (BNPL) credit product implemented by banks continued to record high growth on an annual basis.
"As of November 2024, BNPL's debt balance grew by 42.68 percent (yoy) from October 2024, it was 47.92 percent (yoy)," he said at the RDK Press Conference, Tuesday, January 7.
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Dian conveyed that the number of accounts using BNPL in November 2024 was 24.51 million users, an increase compared to October 2024, which was 23.27 million users. On the other hand, the portion of credit for banking BNPL products was 0.2 percent.
Dian said that this increase shows that banks are able to expand credit related to consumption significantly through paylaters.
"Ini tentu tentu saya kira menunjukkan koncern perbankan kita terhadap kebutuhan masyarakat secara umum, masyarakat yang membutuhkan dalam level yang sebenarnya bisa dikatakan kreditnya adalah kredit kecil," katanya.