PayLater And Modal Toko Feature Transactions At Tokopedia Skyrocket

PayLater feature on Tokopedia (Tokopedia)

JAKARTA - During the pandemic, Tokopedia has consistently helped the public gain access to funding to meet their daily needs through the PayLater feature to maintain business continuity through Modal Toko.

“Throughout 2021, the number of users who took advantage of the PayLater feature almost doubled compared to the previous year. Meanwhile, the number of transactions that occur through this feature will almost triple during 2021," said Tokopedia's AVP of Fintech Lending, Rocky Stephanus.

This trend of payments using the PayLater feature has spread to various regions in Indonesia. Tokopedia noted that several cities experienced the highest increase in PayLater feature users during 2021, including Batam, Pekanbaru, Bandar Lampung, Yogyakarta and Balikpapan.

On the other hand, business activists at Tokopedia, who are almost 100% local MSMEs, and want to develop their business or support operational cost needs, are increasingly taking advantage of the Modal Toko feature. "This is evident from the increase in the value of business capital distributed through Modal Toko by more than 2x during 2021," explained Rocky.

This increase was also driven by various conveniences offered by Modal Toko in collaboration with Dhanapala, such as a flexible credit limit of up to Rp. 300 million and can be withdrawn whenever and however much as needed. “In addition, the loan interest is low and flat. The loan approval process is only done in a matter of minutes," he added.

The Traveller Gadget Business Owner, Christy Cox, is one of the MSMEs that has benefited from the Modal Toko feature. “This feature is a solution for us to get additional business capital because the process is easy and we can adjust the loan amount. The profit sharing percentage is also very affordable for MSMEs like us," he said.

Several cities recorded the highest increase in the number of business capital loans through the Tokopedia Capital feature during 2021 compared to the previous year, including Malang, Semarang, Medan, Denpasar and Palembang.

"We hope that the various initiatives presented by Tokopedia, including payment features and business capital loan facilities, can help Indonesians meet their daily needs and support local MSMEs to maintain business continuity," concluded Rocky.