Indonesian Banking Paylater Has Reached IDR 17.7 Trillion

August 08, 2024, 06.25 PM | Reporter: Adrianus Octaviano, Selvi Mayasari

ILUSTRASI. Promosi program penunda pembayaran atau pinjaman paylater melalui perusahaan financial technology di sebuah pusat perbelanjaan, Depok, Senin (24/6/2023). Otoritas Jasa Keuangan (OJK) mencatat, outstanding piutang perusahaan pembiayaan paylater per?April 2024?telah mencapai Rp 6,47 triliun, naik 31,45% secara tahunan. Pada bulan sebelumnya, Maret 2024, nilainya juga naik?23,90% secara tahunan menjadi Rp 6,13 triliun. (KONTAN/Baihaki)

DIGITAL BANKING - JAKARTA. The buy now pay later (BNPL) product, also known as paylater, has proven to be a promising business for banks. Despite being a relatively new venture for many banks, transactions have already skyrocketed.

Dian Ediana Rae, the Chief Executive of Banking Supervision at the Financial Services Authority (OJK), revealed that the outstanding paylater credit from banks as of June 2024 has reached IDR 17.72 trillion, an annual increase of 47.72%. "The growth in June is higher than in May 2024, which grew by 46.77% annually," said Dian on Monday (5/8).

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Editor: Syamsul Azhar