Survei: Pengguna Paylater Didominasi Milenial dan Warga Kelas Atas

Survey: 59% of Paylater Users Come from Upper Social Class

Survei: Pengguna Paylater Didominasi Milenial dan Warga Kelas Atas

Dream - Users of digital payment services Buy Now Pay Later (BNPL) or paylater are growing in Indonesia. Most of the users are not from the lower middle class. The Financial Services Authority (OJK) recorded a user growth of 18.18 million contracts or 33.25 percent (YoY) to 72.88 million contracts as of May 2023.

In the Populix research entitled "Unveiling Indonesia's Financial Evolution: Fintech Lending and Paylater Adoption," it was found that 55 percent of respondents stated that they have made payments using paylater services. This survey was conducted in September 2023 and involved 1,017 male and female respondents in Indonesia.

Users Dominated by Millennials to Upper Social Classes

The majority of paylater service users are apparently dominated by the millennial generation (63%), the upper social class (59%), and many reside in Java Island (55%). This survey also revealed that the majority of respondents use paylater services less than once a month (51%). Most paylater users utilize this facility through one application (82%).

Co-founder and CEO of Populix, Timothy Astandu, explained that the majority of respondents only have paylater installments of less than Rp1 million (82%) per month. This shows that the Indonesian society is quite wise in managing their finances.

"The results of our research show how paylater plays a significant role in Indonesia's current economic activities."

The text translates to: "Timothy's words in his statement were quoted on Tuesday, October 31, 2023."

From the many brands of paylater service providers entering the Indonesian market, the most frequently used brand is Shoppee PayLater (77%). Other frequently used paylater services include GoPay Later (28%), Akulaku Paylater (18%), Kredivo Paylater (14%), Traveloka PayLater (9%), Indodana (4%), Home Credit (3%), and Atome (2%).

"Use Paylater for What?"

The following is the translation of the given 'Bahasa' text to 'English' while preserving any HTML tags: "The paylater method is commonly used to fulfill several needs, such as purchasing data/internet/electricity packages (48%), clothing (48%), monthly expenses (35%), electronics and accessories (21%), the latest gadgets (19%), and vacations (10%)."

"In choosing a paylater brand, respondents consider several factors such as being connected to a marketplace (71%), being registered with OJK (67%), flexible installment payments (57%). Other factors to consider are ease of registration (52%) and low interest rates (50%)."

"The increasing affordability of paylater for the community, flexibility in installment payments, and ease in the registration process drive the use of paylater as one of the innovative payment solutions for conducting transactions."

"ungkap Timothy Astandu" translates to "revealed Timothy Astandu" in English.

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