Southeast Asia’s Internet Giants Bet on ‘Buy Now, Pay Later’

Some of Southeast Asia’s biggest internet companies are trying to boost their revenue through an old-fashioned business: lending.

As a result of the Covid-19 pandemic, buy-now-pay-later services have increased in Southeast Asia. Grab Holdings the sea LLC and Go to group they all offer their customers short-term loans to help them pay for a variety of products and services, including taxis, food delivery and beauty products. The latest service rollout in the region was in July, when GoTo launched a pay-later service called GoPayLater Cicil, which means “acceptance in installments” in Indonesian.

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