Bank Sampoerna Efforts To Launch Paylater Services This Year

Bank Sampoerna (Between)

JAKARTA - PT Bank Sahabat Sampoerna (Bank Sampoerna) is trying to launch a buy now, pay later (BNPL/paylater) service this year.

Lending, Fintech Product, and Partnership Division Head of PT Bank Sahabat Sampoerna (Bank Sampoerna) Oktavia Laksmi Wardani said that currently it is being submitted to the regulator.

"We are submitting it to the regulator. We just submitted it this year, it has been included in the bank's business plan," said Oktavia Laksmi Wardani quoting Antara.

He said that his party was developing a qualified system before releasing the product because BNPL is a different financial service from conventional banks.

"Hopefully this year it will be live, because it (BNPL service) is something very different from the current core capacity banking," he said.

Oktavia said that the BNPL product is a complement to the product portfolio offered by the company so that it can increase the number of customers and reach wider users.

However, according to him, there are many risks and problems related to the implementation of BNPL, so that his party also seeks to mitigate these various risks.

In addition to mitigating risks, he stated that his party is also trying to develop better paylater services than similar existing services so that these products can be accepted by the market later.

"Hopefully, even though we are not pioneers (in BNPL services), we can still tap the market with better products," said Oktavia.

Corporate Communications and Investor Relations Head of Bank Sampoerna Ridy Sudarma said that the reason his party is developing paylater services is because of demand from the market.

"Demands clearly exist. A genuine request, in the sense that users have the ability to pay and there is a need, that's what we are trying to serve," added Ridy.