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Tokopedia Expands Payment Method Offerings with Installment Lending Solution ‘GoPayLater Cicil’

20 February 2023


Tokopedia Expands Payment Method Offerings with Installment Lending Solution ‘GoPayLater Cicil’

New digital lending product represents the next step in GoTo’s integrated fintech strategy

Jakarta, 19 August 2022 - Tokopedia has expanded its digital payment method offerings with the introduction of a new lending solution, GoPayLater Cicil, to select Tokopedia users. GoPayLater Cicil is a flexible Buy Now, Pay Later (BNPL) solution with no hidden fees that enables users on Indonesia’s leading marketplace to better manage their finances by splitting lump sum payments for Tokopedia purchases into monthly installments over one, three, six or 12 months. GoPayLater Cicil serves as the latest installment lending product available on Tokopedia - part of GoTo, Indonesia’s largest digital ecosystem.

Vira Widiyasari, SVP of Fintech and Payment Tokopedia said, "GoPayLater Cicil on Tokopedia is another way in which our ecosystem is providing benefits to users, following the launch of GoPay and GoPayLater on Tokopedia. Tokopedia users' enthusiasm for BNPL payment methods increased almost threefold in 2021 compared to the previous year, so we are providing this new service to give them even more flexibility. In the future, we will continue to make the lives of Indonesians easier by increasing collaborations and ensuring greater integration within the GoTo ecosystem."

Hans Patuwo, Director and Head of Payments and Financial Services, GoTo said, "GoPayLater Cicil adds to the diversity of e-payment options that are available throughout the GoTo ecosystem. As we continue to integrate our businesses and increase cross-platform use cases, we will gain richer insights that better inform underwriting data and consumer credit scoring. This in turn will help us to create more inclusive, responsible, tailored solutions for all financial needs. We have taken a great deal of care in the development of GoPayLater Cicil, as we aim to empower even more consumers to manage their finances more conveniently and in a way that is right for them.”

The introduction of GoPayLater Cicil as a payment option is the next step in GoTo’s fintech strategy as it seeks to use the scale of its ecosystem to continuously improve user experience and convenience. Since GoPay launched on Tokopedia last year, it has become the preferred e-payment option, accounting for 93% of all e-money transaction value on the e-commerce platform in Q1 2022.

GoPayLater Cicil provides a seamless experience from registration to disbursement with the support of a number of financial services partners, including GoTo strategic partner Bank Jago as the main source of credit funding. GoPayLater Cicil users can customize their installment period and loan limit.

Financial inclusion in Indonesia still has room to grow as digital adoption continues to accelerate, as showcased through the growth of e-money transactions and digital lending. BNPL is poised to grow in South East Asia, especially in Indonesia, where close to 35% of Indonesian adults are considered underbanked. BNPL continues to gain more users due to its simple registration process and quick disbursement, making financial services accessible for almost everyone.


About Tokopedia

Tokopedia is a leading e-commerce marketplace and technology company in Indonesia, with a mission to democratize commerce through technology. Founded in 2009, Tokopedia digitally connects consumers in more than 99% of districts in Indonesia with more than 12 million merchants across the archipelago. Tokopedia’s e-commerce offerings, provided through its mobile app (iOS and Android) and desktop sites, comprise e-commerce, logistics, fulfillment, and financial technology services. Tokopedia aims to build a Super Ecosystem that empowers anyone to start and grow an online business and discover all types of products.

Tokopedia is part of the GoTo Group, the largest digital ecosystem in Indonesia, consisting of Gojek, Tokopedia and GoTo Financial.

Media Contact:

Tokopedia PR | pr@tokopedia.com


Alfianita KarismawatiAlfianita Karismawati

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