- Akulaku, which offers finance and digital banking services in Southeast Asia, has announced a new partnership to allow improved access to financial services in Indonesia.
- It will partner with well-known financial services brand Alipay+.
- “As a newly-emerged but rapidly adopted digital payment method, BNPL brings inclusive financial services to the underbanked communities," said a spokesperson for Alipay+.
A provider of digital finance, banking and international money transfer services in Southeast Asia has confirmed that it will partner with major Chinese brand Alipay+.
Akulaku said that it had developed the partnership to allow improved access to financial services in Indonesia.
The new arrangement will see customers in that country permitted to use one of the firm’s solutions, called PayLater, at shops and sellers that operate with Alipay+.
The PayLater product, which was launched back in 2016 under the alternative name Akucicil, has become popular in recent times.
It permits customers who do not have a detailed credit background to borrow money.
In a statement, Cheng Guoming, the general manager for global partnerships at Alipay+, said that the payment method on offer from Akulaku – known as Buy Now, Pay Later (BNPL) – could help boost financial inclusion.
“As a newly-emerged but rapidly adopted digital payment method, BNPL brings inclusive financial services to the underbanked communities," he said.
“We see BNPL as an important part of the digital payment ecosystem, and are excited to reach this partnership with Akulaku PayLater to enable the communities in Indonesia and other potential markets to enjoy seamless and convenient cross-border payment services and enrich their daily lives through global shopping experience.”
“This partnership will lead to a more advanced and convenient financial landscape for customers in Indonesia and throughout Southeast Asia,” said Fan Zheng, chief financial officer at Akulaku.
“Through Alipay+, we will quickly scale the pool of merchants accepting Akulaku PayLater, giving our consumers an enhanced user experience and improving the market competitiveness of BNPL products.
“The combined resources will reach underserved markets with immediate financial services, fostering growth within these regions across industries.”
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