List Of Banks That Have Paylater Services: Check Come On, Are Yours Included?

List Of Banks That Have Paylater Services (Image Travis Essinger - Unsplash)

YOGYAKARTA - Buy Now Pay Later (BNPL) financial products continue to grow in Indonesia. The current amount, especially since it has exceeded credit card usage. Let's find out some lists of banks that have paylater services!

This ability makes the banking industry not want to lose and has also entered the paylater business.

Paylater shares flexibility in terms of payments. This allows consumers to delay payments until they coincide with dues set by banks or service providers.

Paylater services can often be accessed digitally, allowing customers to carry out transactions via mobile applications or websites, so it is very safe to shop online.

With a paylater, you can manage your finances for the better. You can monitor and manage expenses more carefully and know when and how much you have to pay. Here are some lists of banks that have paylater services:

Bank Mandiri

Bank Mandiri offers the Paylater feature through the Livin' application. With the concept of 'buy now, pay later,' You can pay for transactions via QR at all merchants

installment option 1, 3, 6, 9, or 12 months. This state-owned bank offers Paylater's optimal loan amount of up to IDR 20 million.

Independent Paylater can be used for QR transactions at all merchants via the QR payment menu through the Livin' by Mandiri application. Bill payments can be made using the auto debit method according to the date of the transaction maturity.

Bank BTPN

PT Bank BTPN Tbk through its digital bank Jenius already has Paylater services. With Jenius Paylater, snacks and shopping every day becomes more instant because all transactions will be collected in one bill that can be paid next month.

Jenius Paylater is connected to Jenius QR and can be used as a source of funds during transactions at the QRIS merchants, offline or online.

Create an initial limit of Jenius Paylater will be given IDR 500 thousand. Periodicly, users who meet the internal criteria of the bank can get an increase in the limit.

CIMB Niaga Bank

Bank CIMB Niaga also introduced the Paylater feature through the mobile banking application OCTO Mobile which attracts millennials and Gen Z.

One of the paylater features of Bank CIMB Niaga is replacing retail transactions with a minimum of IDR 500.000 to 0 percent installments for a 3-month period through the OCTO Mobile application.

Bank DBS Indonesia

Bank DBS Indonesia has a digital credit card called Digibank which offers a Paylater feature. The digital credit card approval process only takes 60 seconds. You can change the bill to installments for up to 60 months with an interest rate of 0 percent.

The administrative payment for this program is 3 percent of the total application for installments. On the other hand, 0 percent interest applies to minimal transactions of IDR 20.000 or IDR 50.000 for other interest rates will be imposed for those exploring this program.

Allo Bank

Allo Bank provides Allo PayLater products. This service offers a variety of payment periods, ranging from 1 month to 12 months, with a limit of IDR 100 million.

The Allo Paylater loan interest rate is 4, 50 percent to 2, 95 percent. On the other hand, the late payment charged is 0.30 percent per day of the principal loan through dues. There is also, for accelerated repayment, customers can be subject to a fine of 10 percent of the principal loan.

BCA Bank

Bank BCA has a Paylater feature that can be found in the myBCA application. Paylater BCA is a credit facility that can be used as an alternative payment via scanning QRIS in the myBCA application.

Payment of return can be paid in installments with a period of time option. To be able to use this installment feature, customers must have BCA ID.

Part of the main features of Paylater BCA include a credit limit of up to IDR 20 million with a revolving mechanism, as well as a 1-month installment tenor option, 3 months, 6 months, or 12 months with interest rates of up to 2 percent flat per month.

So after knowing the list of banks that have paylater services, see other interesting news on VOI, it's time to revolutionize news!