Jenius launches Split Pay and Jenius Pay Installments to control cash flow

economy . 02 Jun 2022

Heaptalk, Jakarta — Jenius, a digital banking application, has established Split Pay and Jenius Pay Installment as its newest features. The introduction of the latest product features is expected to facilitate users in managing their cash flow efficiently.

Split Pay’s establishment aims to ease Jenius’ users to switch debit transactions into installments. The minimum transaction value for the conversion is USD 34,32, within the maximum period of the last six months’ transaction.

Another newest feature presented is Jenius Pay Installment, helping consumers to shop online by applying installments. Jenius Pay is available to over 60 e-commerce. Users can make their payments safer using Jenius Pay by simply entering $Cashtag at the merchants while checking out without inserting debit or credit card information.

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This banking platform has executed research involving 116 respondents, aged 21 – 40 years, in March 2022 to recognize the most transactions method used. The survey was conducted to determine the behavior of digital-savvy in Indonesia in making installments.

The research indicates that there are three primary reasons for using installments: maintaining a stable cash flow management (38%), minimizing payment load (18%), and the simplicity of using installments (16%). Furthermore, the survey shows that there are two necessities that are frequently purchased through installments, including electronic (47%) and household furniture transactions (10%). A similar survey also reveals that respondents’ preference for installments in online transactions reached 84%, compared to offline transactions (14%).

Head of Digital Banking Business Product at Bank BTPN, Waasi Sumintardja, said “Jenius aims to grant a complete and integrated financial service. Thus, we introduced Split Pay and Jenius Pay Installments features linked to Flexi Cash. These newest features are payment methods and sources of funds preference provided for our users.”

This Indonesia-based digital banking platform connects Split Pay, and Jenius Pay installments feature with Flexi Cash as a source of funds that can be used. As flexible funds, customers can access this Flexi Cash feature to execute a fully digital withdrawal process only through this application.

Jenius will grant the funds with a limit of up to US$13,750 in the Flexi Cash for its customers. The nominal funds limit also comes with several flexibility benefits, including unlimited withdrawal activity, the flexibility of withdrawal amount, and installment tenor options for up to 36 months.

As a part of further initiation, the Jenius platform plans to create the Pay Later feature in early Q2 this year. This on-progress feature will allow customers to complete their emergency needs and purchase. The feature is expected to supervise daily expenses conveniently.

“Jenius brings integrated online payment solutions to get easier for customers to control their cash flow by changing between cash and installments purchasing. A consumer can also monitor debt expenses and installments only through one application,” concluded Waasi (5/31). (SFM)


Editor: Ariq Zufar