By performing this collaboration, the transaction and payment verification time of kiniBayar, buy now pay later (BNPL) services by Danakini, becomes faster to approximately 2 minutes.
Heaptalk, Jakarta – Kawan Lama Group’s financial technology subsidiary, Danakini, announced its collaboration with Yokke, Indonesia’s digital payment firm to implement a payment transaction with paylater KiniBayar of Danakini through EDC (Electronic Data Capture) device.
The new feature will be implemented gradually at over 500 retail stores of Kawan Lama Group. In the initial stage, the method will be adopted in ACE and INFORMA around Jakarta Greater Area starting from April 2023.
CEO of PT Dana Kini Indonesia, Gregory Sugyono Widjaja, stated “We started to implement the ease of payment and verification of kiniBayar through the Yokke EDC at ACE and INFORMA, two major retailers of Kawan Lama Group, in Jakarta Greater Area starting from April. Eventually, the services will gradually be implemented in all Kawan Lama Group’s retail stores.”
By performing this collaboration, the transaction and payment verification time of kiniBayar becomes faster to approximately 2 minutes. Despite its fast process, the system also keeps ensuring security aspect.
Gregory explained, “Following our user growth that continues to increase, we need to improve the pace and efficiency of our services. In that matter we took Yokke as a tech company that is able to accelerate the verification process, especially to respond to the needs of millennials as the majority of kiniBayar users, who demand fast and simple buy now pay later services.”
Danakini’s pay later service and its significant growth
kiniBayar is a Buy Now Pay Later payment service launched by Danakini in August 2021. Since its inception, Danakini’s users significantly increased, even enhanced by 90% in Q4 of 2022 compared to Q3.
President Director of PT Mitra Transaksi Indonesia (Yokke) Niniek Rahardja said, “The collaboration was built over the same mission of Yokke and Danakini that aim to provide the ease of doing transactions to all Indonesian people. As a technology enabler, Yokke ensures that every transaction process will be secure, convenient, and smooth; while Danakini aims to provide ease of financing access to everyone.”
To make a payment, Danakini users only need to inform their phone number to the cashier. The cashier will input the telephone number and payment amount into Yokke EDC device. Afterward, users are requested to confirm the transaction by Danakini apps, choose the payment tenure, and (if any) input the promo code. The process continues with a digital signature as consent of transaction and verified by OTP (One-Time Password) code that will be sent to the user’s number.
