BNI Establishes Consumer Credit Partnership with Traveloka PayLater

One of the latest payment methods in Indonesia, pay later, is currently available on several online platforms including Traveloka, with the aim to make it easier for users to access point of purchase financing to fulfil their needs. Pay later allows credit approved users to transact and pay for it at a later time without using a credit card. Traveloka introduced its Traveloka PayLater service in 2018 and has seen strong engagement as this payment method allows its users to make better travel and lifestyle purchase decisions.

To continue to address the increasing demand for the Traveloka PayLater service, Traveloka is partnering with PT Bank Negara Indonesia (Persero) Tbk (BNI) to serve more users. The strategic partnership between the two parties to provide credit access to underbanked Indonesian consumers was marked by a Memorandum of Understanding signing ceremony between Consumer Business Director of BNI, Anggoro Eko Cahyo, and President, Traveloka Group Operations, Henry Hendrawan, at Menara BNI Pejompongan, Jakarta.

Anggoro Eko Cahyo said, “This partnership will further grow BNI’s consumer credit access to Traveloka PayLater’s users. Through Traveloka PayLater, users can easily plan their trip and support their lifestyle needs with the ability to pay for it over time. This partnership marks BNI’s commitment to support Traveloka PayLater in achieving a potential loan disbursement of up to IDR 6 Trillion in 2020.”

“We are very optimistic that our collaboration with Traveloka, Southeast Asia’s largest digital travel and lifestyle booking platform, will boost BNI and Traveloka’s core businesses as we have similar market segmentations. We believe this partnership will contribute to the expansion of BNI’s consumer credit segment and provide convenience to Indonesians, including Traveloka PayLater users who will potentially become our consumer,” Anggoro added.

President, Traveloka Group Operations, Henry Hendrawan, said “Through this partnership, we want to continue to better serve the underbanked Indonesian consumer, with the aim to solve their pain points in booking their travel and lifestyle needs. Traveloka PayLater will provide users with relevant credit access to book flights, hotels, or other experiences any time, and they do not need to worry about paying higher last-minute prices or difficulties in finding their desired itinerary.”

He also added , “We are very grateful for the support from BNI, one of the country’s largest and most trusted financial institutions and look forward to expanding the partnership further in the future.”