Traveloka Collaborates with Bank Jago, Distributing Credits through Traveloka PayLater

Jakarta, 22 April 2022 - Traveloka Group, Southeast Asia’s lifestyle superapp, has established partnership with Bank Jago to expand credit distribution through one of the Traveloka Group's financial service products, Traveloka PayLater. This partnership was officiated by the signing ceremony between the CEO of Financial Services, Traveloka Group and the President of PT Caturnusa Sejahtera Finance, Doan Lingga, also Head of Partnership Lending Acquisition Bank Jago, Michael Jermia Tjahjamulia.

Since its first launch in 2018, Traveloka PayLater has recorded a growth of up to 10 times and is targeting the underbanked community in Indonesia with financial access constraints, particularly in fulfilling various travel and lifestyle needs.

Doan Lingga, CEO of Financial Services, Traveloka Group and President of PT Caturnusa Sejahtera Finance, a subsidiary of Traveloka in financing, who were attending the ceremony expressed his optimism regarding the customers credit distribution partnership that was established with Bank Jago.

“The partnership with Bank Jago has expanded customers' credit disbursement opportunities to the underbanked community in Indonesia, specifically for Traveloka PayLater users who are often facing difficulties accessing finance to fulfill their travel and lifestyle needs. This is a testament of Traveloka's commitment to support the growth of national financial inclusion. Through this collaboration, we are optimistic that we will be able to contribute to this and hope to improve the business value of both parties.” stated Doan.

As a technology-based bank, Bank Jago believes that collaboration and synergy with digital economy players, such as Traveloka, is the key in reaching new customers, especially people who need easy and innovative financial products and services and people who have not been touched by financial products and services (unbanked), as well as customers who are still having difficulty getting access to finance (underbanked).

“Partnership with Traveloka PayLater shows Bank Jago's commitment to continue collaborating with the digital ecosystem. We hope that this collaboration with Traveloka, which is known as a lifestyle superapp in Southeast Asia, can reach a wider community and increase Bank Jago's business growth going forward," stated Bank Jago Director, Sonny Christian Joseph.

The evolution of Traveloka PayLater payment method is not only seen from the number of customer growth, but also through various other feature developments in completing Traveloka PayLater such as; Traveloka PayLater Card and Traveloka PayLater Virtual Number that are currently needed by consumers.

“We are grateful for Bank Jago's support for Traveloka PayLater. In the future, we also hope to expand our cooperation for other Bank Jago banking products and services. We will continue to express our commitment in developing Traveloka PayLater services, including opening up opportunities to expand partnerships with other financial institutions,” concluded Doan.