Alipay, China's leading third-party online payment solutionAlipay, China's leading third-party online payment solution

Kredivo

Founded in 2016, Kredivo is headquartered in Jakarta, Indonesia, and focuses on providing local users with instant credit financing services at low-interest rates. Its parent company FinAccel, a fintech company based in Singapore, has been backed by a number of quality investors since its establishment.

Using a real-time decision system based on artificial intelligence, Kredivo allows users to complete their credit application and approval online in as little as two minutes. Furthermore, users enjoy a 30-day interest-free Buy Now Pay Later and various monthly installment credit services when shopping at partner merchants. The repayment can be completed through e-wallets, online banking, cash, and more.

Properties

The properties of the Kredivo payment method are shown in the following table:

Payment type

Alipay+ payment method

Funding source

Credit

Acquirer

AlipaySG, AlipayEU,

AlipayUS, AlipayUK

Acquiring region

SG, AU, HK,

US, EU, UK

Payment flow

Redirect

Checkout Payment

✔️

Buyer country/region

Indonesia

Auto Debit

Funds deduction

Real-time

Refund

✔️

Processing currency

IDR

Partial refund

✔️
Minimum payment amount

Buy now pay later: 1 IDR
Installment payment: 500,000 IDR

Chargeback/Dispute

Maximum payment amount

Buy now pay later: 3,500,000 IDR
Installment payment:
30,000,000 IDR

Refund period

None

User experience

The following screenshot shows the journey of paying with Kredivo:

image.png

Figure 1. Payment process with Kredivo (app)

Note: After the payment is completed, the page will redirect to the merchant results page (P5 -> P6), which requires the user to manually switch back to the merchant app instead of automatic redirection.