Buy-now-pay-later (BNPL) operators in Indonesia continue to remain optimistic given the huge growth potential in Southeast Asia’s largest economy, even as the model is reportedly struggling in mature markets like Australia and the US.
“There’s huge room for BNPL to grow in Indonesia as young people tend to buy everything online,” PT Akulaku Finance Indonesia (Akulaku) president director Efrinal Sinaga said at a recent conference. Akulaku aims to disburse 15 trillion rupiah ($1 billion) in loans by the end of 2023, up 15.38% compared with 13 trillion rupiah ($885.8 million) in 2022.