Heaptalk, Jakarta — The Paylater transactions become more prevalent in offline and online shopping sectors. Kredivo’s latest report, in collaboration with Katadata Insight Center (KIC), reports that offline transactions contribute around 27.7% to total Paylater transactions, increasing to 169% in 2023.
On the other hand, online transactions in Paylater Tier 1 cities continue to dominate online Paylater transactions, contributing 50.5% to total transactions in all Tier 1, 2, and 3 cities in Indonesia. Data also shows that pay later at online merchants remained even throughout the year, with a range of 22.9% – 26.7% per quarter driven by e-commerce promos on every unique date.
Research also disclosed that Paylater remains the first credit for most respondents (68%), reflecting this payment method’s inclusivity and simplicity in providing consumer credit access. The proportion of users aged 36 years and over grew from 27.8% in 2022 to 29.6% in 2023. The proportion of transactions from this age also increased from 31% in 2022 to 31.9% in 2023.
“Offline Paylater transactions grew by 44% in the 4th quarter of 2023. This enhancement coincided with the year-end holidays and the tremendous promos of merchants, eventually encouraged consumer shopping activity. Tier 2 and 3 cities dominate the paylater transactions amount at offline merchants by 53.1%, compared to tier 1 cities,” Executive Director of Katadata Insight Center, Adek Media Roza, conveyed.
Furthermore, The 2024 Indonesian Paylater user behavior report also shows an increase in the use of pay later in purchasing 6 out of 13 product categories, such as food (17.6%), Health and Beauty (15.8%), and office equipment and stationery (4.2%) last year. The increase in various daily needs aligned with the high level of consumer satisfaction. In 2024, Paylater’s user satisfaction level is estimated to touch 8.18 out of 10, growing from 7.96 in the previous year. The highest score was obtained from transaction experience, reaching 8.76 out of 10.
