Samsung Financing, an instant credit solution for Samsung powered by Kredivo, that makes it easy for consumers to buy a variety Samsung products on installments.
Jakarta, March 4th 2021 – Samsung Electronics Co. Ltd., leading global consumer electronics, announces its strategic collaboration with Kredivo, the leading digital credit platform for retail borrowers across Indonesia. Through this collaboration, Kredivo is now an official and exclusive partner in Indonesia for Samsung Financing, an instant credit solution for Samsung powered by Kredivo, that makes it easy for consumers to buy a variety of their favorite Samsung products on installments. This also marks a milestone for Samsung, as they launch the first-ever financing program in Indonesia, and Southeast Asia. For Kredivo, the partnership strengthens the relationship between the two companies, as Kredivo is already available as a payment solution for Samsung products for both online and offline merchants across Indonesia.
As an exclusive partner, Kredivo will support and manage Samsung Financing using its in-depth experience of over 5 years as the pioneer of paylater solutions in the Indonesian market, through a combination of strong risk management, innovative credit scoring, and wide market reach.
Commenting on the partnership, Krishnadas, VP Business Development at Kredivo, said, “The entire Kredivo team is extremely pleased to step up our collaboration with Samsung, one of the most renowned innovative global companies that we look up to. It is also a validation of our leadership in the market as a paylater service provider with the lowest interest rate. Now all Kredivo users can buy their favorite Samsung products at an even lower interest rate than usual.” This collaboration also facilitates the strong demand for gadgets and accessories products in Indonesia. A research on Indonesian e-Commerce consumer behavior shows that gadgets and accessories make up 33% of the total e-commerce transaction value in 2019.
We are very excited to be partnering with Kredivo for our Samsung Financing solution. The collaboration provides a fast, simple and low-cost financing solution for our customers in Indonesia, at only 2.35% per month with no down payment. In the long term, we hope that this collaboration will boost device sales by giving customers more convenient ways to pay.”
Through instant registration, which is similar to the Kredivo app, new users can register for Samsung Financing by downloading the Samsung Financing application on the Google Play Store. Existing Kredivo users can also login directly to the Samsung Financing app without the need to register. Consumers can shop for their favorite Samsung products at various offline Samsung retail stores and on the Samsung Indonesia official e-Commerce store using Samsung Financing credit limit. All users can apply for either 30-day paylater without interest or 3, 6 or 12 month installments with an exclusive interest of 2.35% per month when using Samsung Financing.
Kredivo is the leading digital credit platform in Indonesia that gives customers instant credit financing for ecommerce and offline purchases, and personal loans, based on real-time decisioning. Kredivo users can buy now and pay later with one of the lowest interest rates amongst digital credit providers in the country. Kredivo’s merchant partners benefit from instant point-of-sale financing, powered by its unique 2-click checkout. Kredivo is operated by FinAccel, a Singapore-headquartered financial technology company backed by leading investors such as Mirae Asset, Naver, Square Peg Capital, MDI Ventures, and Jungle Ventures, among others. Kredivo is supervised by OJK’s multi-finance division in Indonesia. To learn more about FinAccel and Kredivo, visit www.finaccel.co and www.kredivo.com.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at http://news.samsung.com.