Tokopedia adds up to its fintech products by setting up the latest technology of virtual credit card called “TokoSwipe”. This service is yet to be accessed by users and will be available only on smartphones.
In our observation, users can use TokoSwipe to make Tokopedia transaction and pay off the bills by the end of the month. In presenting this service, Tokopedia collaborates with lending partners which already registered and supervised by OJK. However, the identity is not revealed yet.
Tokopedia avoid comments on the product yet to launch.
Further explained, TokoSwipe application can be made through Tokopedia app, but currently limited for users in Jabodetabek.
Users only have to fill in the form, including private information, ID, and agreement to the terms and conditions. The data will be verified in 1×24 office hours. The limit for credit and rejection are fully partner’s rights.
Once approved, users can choose TokoSwipe as a payment method for each transaction with minimum IDR 10k. It’s not available for installment, mutual fund, and gold products.
Users are given the freedom to choose the credit amount, start from 10% of the total bill. Later, users will get a notification after paying the bill, the rest can be paid next month.
There will be an administration fee for users. It’s 1,5% of the total transaction when fully paid. The other option when the tenor is 3 month (1,6%), 6 month (1,75%), and 12 month (2%).
If it’s past the due date, there will be additional fine according to the partner.
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Original article is in Indonesian, translated by Kristin Siagian
