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 | ||
Acquirer | AlipaySG, Alipay EU, Alipay US, Alipay UK | 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 | ✔️ |
Credit lower limit | Buy now pay later: 1 IDR | Chargeback | ❌ |
Credit upper limit | Buy now pay later: 3,500,000 IDR | Refund period | None |
User experience
The following screenshot shows the journey of paying with Kredivo:
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.