Don’t Checkout on Impulse and Regret It: Understand the Rules of Using Paylater
Jakarta — The convenience of online shopping often encourages impulsive purchases when people spot their dream item in a shopping basket. Instant financing features make it possible to buy essential or lifestyle products in seconds.
However, using paylater facilities without clearly allocating a budget risks piling up monthly bills. To keep their finances under control, users need to understand repayment terms and interest rates, and make sure they pay off bills before they fall due.
Using paylater wisely can help manage cash flow, provided it is in line with the user’s financial means and needs.
Benefits and risks of digital financing
Digital financing features give people greater flexibility to meet their needs without immediately using all their savings. Users can also divide certain expenses into regular instalments aligned with their monthly income.
However, failing to assess one’s ability to repay can lead to late fees and affect one’s personal credit history.
It is therefore important to review one’s financial capacity before making a transaction, to avoid bills that exceed what one can afford.
Easy access and the Kredivo ecosystem
The Kredivo app offers flexible payment solutions integrated with thousands of online shops and physical outlets.
Kredivo is reported to have held an official licence and been supervised by the Financial Services Authority (OJK) since 2018. Users can take advantage of a zero per cent interest promotion for a 30-day term, or choose instalment facilities of up to 24 months, with interest starting at 1.99 per cent a month.
In addition to payment facilities, Kredivo also offers KrediFazz, a feature for emergency cash advances that can be transferred directly to a specified bank account.
Registration is completed digitally, without requiring in-person verification. The stated eligibility criteria include being an Indonesian citizen aged 18–60 and earning at least Rp3 million a month.
Users need only download the Kredivo app from Google Play Store or the App Store, fill in their personal details, select their location on a map, and upload their identity card (KTP) and a selfie.