Ayoconnect Direct Debit API simplifies activating automatic recurring payments or making occasional payments on any financial platform through one-time account binding.
Heaptalk, Jakarta — Indonesia-based API platform, Ayoconnect has affiliated with the digital credit startup, Kredivo, to provide an Auto Debit Kredivo feature to simplify financial transactions.
“We are thrilled to team up with Kredivo. By integrating Kredivo’s services with our Direct Debit API, we aim to create a more seamless and secure loan payment experience for users, ultimately fostering financial inclusion and driving economic growth. We will continue cooperating with the ecosystem to achieve this goal,” The Founder and COO of Ayoconnect, Chiragh Kirpalani.
According to the Indonesian e-Commerce Consumer Behavior Report 2023 by Kredivo and Katadata Insight Center (KIC), Pay Later is on track to become one of the fastest-growing payment methods. The report revealed that consumers who had used a pay later when shopping on e-commerce elevated by 45.9% in 2023, compared to the previous year of 28.2%.
In the first phase of collaboration, Kredivo’s integration with Ayoconnect’s Direct Debit API is accessible for Mandiri and BRI’s account holders. These banking account holders can experience seamless loan repayment at Kredivo without repetitive verifications, allowing for swift and efficient transactions. Additionally, Kredivo can leverage convenience to drive higher customer satisfaction and boost their businesses.
Ayoconnect’s Direct Debit API simplifies activating automatic recurring payments or making occasional payments on any financial platform through one-time account binding. Once customers successfully link their accounts, they can perform a seamless auto debit feature for future transactions without facing the long account verification process. In this case, Kredivo’s Auto Debit allows Mandiri and BRI account holders to repay their loans conveniently.
Adopting this feature has encountered an increasing trend in the fintech industry and business sectors offering recurring or subscription payment types, such as insurance, over-the-top (OTT) platforms, e-commerce, and other non-financial institutions.
The CEO of Kredivo, Umang Rustagi, stated, “Our partnership with Ayoconnect marks an important step in our commitment to provide excellent customer experiences. Through this integration, we aim to elevate the loan repayment service for Kredivo’s users and fasten digital transactions. This partnership aligned with our plan to serve tens of millions of users with innovative financial services.”
