n 2018, Traveloka launched its Buy Now Pay Later (BNPL) service (the Traveloka PayLater), making it the first platform in Indonesia to offer an alternative payment method primarily for underbanked individuals. Traveloka PayLater is a product of PT Caturnusa Sejahtera Finance (CSF), a financing company that is part of Traveloka Group. Now 6 years later, the service has evolved into a core component of Traveloka’s value proposition. It has experienced an average annual growth rate of more than 30%, with a 20% increase in its BNPL user base this past year alone.
The service enables Traveloka customers to purchase goods or services, such as booking flights and hotels, in installments with customizable increments, ranging from one-time to 12 months. This reduces their financial burden and makes travel more affordable for anyone in the country.
As the new year begins, Traveloka…