23% of Indonesian Citizens Have Never Used Buy Now, Pay Later Services: What are the Reasons?

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Nabilah Muhamad 25/06/2024 16:08 WIB

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According to a survey by Kredivo and KIC, 23.7% of Indonesian respondents had never used a pay-later service as of April 2024. The majority cited a reluctance to incur further debt.

Reasons Respondents Have Never Used/Do Not Use PayLater (March-April 2024)

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Reasons Respondents Have Never Used/Do Not Use PayLater (March-April 2024)

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According to a survey conducted collaboratively by Kredivo and the Katadata Insight Center (KIC), 23.7% of Indonesian respondents have never used paylater services.

Of this group, the majority, or 53.7%, did not use paylater because they did not want to increase their debt.

Furthermore, 38.8% did not use paylater because they preferred conventional payment methods, and 35.3% feared late payment penalties.

Other reasons included fear of overspending (34.1%), lack of interest (30.3%), high installment interest (25%), unwillingness to disrupt their financial management (20.3%), and fear of delinquency affecting their credit score or BI checking (18.9%).

Other reasons for not using paylater included religious beliefs (15.3%), concerns about data security (14.3%), lack of understanding of how to use it (13.2%), and administrative fees (11.3%).

The survey also found that, among respondents who had never used paylater, 50.8% were interested or planned to use the service, while 49.2% were not interested.

The Kredivo and KIC survey involved a total of 6,815 respondents aged 18 and above, spread across Indonesia.

The number of respondents who had never used paylater was 1,617. Data collection was conducted online in March-April 2024.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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23% of Indonesian Citizens Have Never Used Buy Now, Pay Later Services: What are the Reasons?

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