Indonesian online marketplace Bukalapak launched a new feature for its payment installment service BukaCicilan. It will enable its customers to pay in installments for the purchase they made on the platform without a credit card.
BukaCicilan is available on Bukalapak’s mobile app if the customers have already registered to and connected their Akulaku account with a verified phone number. Customers can then choose Akulaku as a means of payment without a credit card with options for 6 and 12 months of installment.
“BukaCicilan feature allows Bukalapak’s customers to shop with easy installment requirements. The credit limit varies from IDR 3 million (US$ 168) to IDR 25 million (US$ 1,647) and it is approved within a short period of time,” said Destya Danang Pradityo, Head of Payment and Financial Services Bukalapak.
Any items sold in Bukalapak are subject to BukaCicilan payment option with no maximum price and only compliant to the credit limit. Interests offered are from 1.5 per cent per month, and items under IDR 200,000 (US$ 13) there’s no need for down payment.
According to Akulaku’s Director Syeki Liang, the feature is accessible for Indonesia’s citizen aged 21 to 50 years old, living in Java island, and have a steady income.
Image Credit: Bukalapak