Retail in Asia


Traveloka launches Southeast Asia’s first PayLater Virtual Card Number


Traveloka, Southeast Asia’s lifestyle superapp, announced the launch of its Traveloka PayLater Virtual Card Number on 17th September.

Developed in partnership with one of the biggest financial institutions in Indonesia supervised by the Financial Services Authority (OJK) and Bank Indonesia, PT Bank Negara Indonesia (Persero) Tbk (BNI), the innovative payment method allows Traveloka PayLater users to buy now and pay later on supported e-commerce platforms outside of the Traveloka ecosystem using a Virtual Card Number.

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Traveloka, which pioneered the PayLater product in Indonesia, said its PayLater Virtual Card Number comes with a 16-digit number, card expiration date, and Card Verification Value (CVV), similar to a credit card. Traditionally, e-commerce transactions require a credit card or other banking payment service, thereby excluding the unbanked and underbanked, who are unable to get a credit rating.

With the Virtual Card Number, users can now use their PayLater credit determined on the Traveloka app and make online transactions with the option of instalment payment methods – from interest rates as low as 2.25% per annum – on numerous e-commerce platforms such as Shopee, Lazada, JD.ID, Bukalapak, and Tokopedia. Users can consolidate and manage their PayLater account through the app, thereby enabling responsible financial management.

Caesar Indra, President, Traveloka, said, “A goal of our financial services offering has always been to advance financial inclusion, starting with our home market, Indonesia. Our new Traveloka PayLater Virtual Card Number is a natural extension of our PayLater offering, which has already enabled millions of our users to access credit and fulfil their lifestyle aspirations. We believe that this innovative breakthrough will not only provide a safe and easy payment method for our users but also plug a gap by providing credit access to underbanked consumers in our largest market.”

Since Traveloka launched PayLater in 2018, the company has seen the number of users increasing 7.5 times, reflecting strong demand for such financial services.

“We are seeing strong and growing demand from consumers across the region for fintech solutions that help increase consumers’ access to financial services, which has continued to accelerate during the COVID-19 pandemic. Our position as Southeast Asia’s lifestyle superapp uniquely places us to take advantage of this growth and will continue to drive important innovations in the financial services space,” Caesar added.

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BNI also expressed its support for this latest innovation. The Virtual Card Number is an advanced payment method that allows consumers to transact online in a convenient way. This feature allows consumers to enjoy an easy and safe way to do online transactions utilising a unique virtual card number instead of the usual credit card number,” explained Corina Leyla Karnalies, Consumer Business Director, BNI.

At launch, the Virtual Card Number payment method will only be available to selected Traveloka PayLater users in Indonesia, with a usage limit in accordance with their PayLater credit limit. This will be expanded to more users at a later stage.