The payments infrastructure provider has announced the integration of Indonesian «buy now pay later» (BNPL) pioneer Kredivo to its platform.
PPRO is partnering Kredivo – one of Indonesia's largest and fastest growing digital credit platforms – to allow more merchants to reach a large pool of underbanked or unbanked Indonesians.
The integration is a cooperation between PPRO, Kredivo, and DOKU, a leading payment technology company, and enables PPRO to offer the increasingly popular BNPL payment option, as well as split payment and flexible instant credit offerings via Kredico.
«Indonesia continues to be recognised as the world’s hottest battleground for digital payments. The addition of Kredivo to our platform is a milestone in our Indonesia expansion,» Kelvin Phua, PPRO head of global market development, said.
Major Market
Kredivo currently has more than 4 million users in Indonesia, representing over 50 percent of the local BNPL market.
The news follows the recent announcement of the integration of two of the most popular payment methods in Indonesia, Jenius Pay and LinkAja, to the PPRO platform. Other payment methods on PPRO’s wider global network include Alipay, WeChat Pay, GrabPay, Bancontact, iDEAL, BLIK, and Boleto Bancário. PPRO raised $180 million earlier this year, taking the firm’s total value to over $1 billion.
Kredivo has also been expanding of late – it inked a partnership with Standard Chartered in October to offer BNPL loans to the mass market segment via digital channels. The company also launched in Vietnam in August through a joint venture. FinAccel, Kredivo’s parent company also announced plans to go public via a $2.5 billion SPAC merger. The firm had raised US$90 million in 2019 during a Series C funding round to double down on its Southeast Asian expansion plans.
