GoTo-TikTok Team Up for Buy Now Pay Later Boom

By Editorial Team 25/03/2024
buy now pay later
Summary

PT Gojek Tokopedia Tbk (GOTO) is gearing up to introduce Buy Now Pay Later (BNPL) services in collaboration with TikTok. The development of BNPL marks another stride in the ongoing partnership between GoTo and TikTok following the acquisition of Tokopedia shares. Thomas K. Husted, GoTo's President of Financial Technology, stated that BNPL is one of two new initiatives GoTo is undertaking to accelerate fintech business growth in 2024. "We're also collaborating with BFI Finance to provide vehicle financing for drivers," he said on Mar. 19.

Thomas stated that the partnership with BFI is a pilot project that still requires regulatory approval. This trial is also non-exclusive in nature, meaning GoTo is not ruling out partnering with other entities in the vehicle financing business. "Both initiatives hold great promise. If we look at our current performance, it's just the beginning," he added. Thomas stated that GoTo's main objective with these initiatives is to establish GoTo Financial as a priority partner for TikTok Shop and Tokopedia.

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