Buy Now Pay Later (BNPL) is quickly becoming a mainstream way to pay in Indonesia. By 2030, the market is projected to hit US$13.59 billion, according to Research and Markets.
That growth is already playing out on the ground. Data from Indonesia’s financial regulator, Financial Services Authority (OJK), shows that outstanding BNPL balances hit IDR37.44 trillion (US$2.2 billion) as of November 2025, underscoring how deeply BNPLs are now embedded in everyday spending.
Much of this is tied to Indonesia’s e-commerce and mobile shopping boom. Providers like Kredivo and Akulaku have integrated directly with platforms like Tokopedia and Shopee, turning instant access to credit at checkout a reality.
For many Indonesians, the accessibility to credit matters more than anything else. In select segments, credit cards are an elusive affair, while bank loans have barriers to entry that they can’t overcome.
BNPLs have become the right lending product that fills the gap with quick approvals and flexible instalments that fit real cash flow needs.
The numbers reflect this shift. Banking based on BNPL accounts rose to 31.47 million in November, while non-performing loans stayed low at just over 2%. Even as purchasing power remains under pressure, consumers are leaning into instalment-based payments that do not require a credit card.
If you are trying to decide which BNPL provider offers the best value, or wondering how fees, limits and features compare, this guide breaks down the top BNPL players in Indonesia and the latest developments shaping the market today.
Last updated: 18 March 2026
Top 4 BNPLs in Indonesia in 2026
According to Yahoo Finance, the top 4 BNPLs in Indonesia are Kredivo, Akulaku, and Atome, while Shopee PayLater is also gaining traction.
Kredivo
Kredivo offers BNPLs with repayment options ranging from 1, 3, 6, 12, 18, and 24 months with no down payments. According to its website, Kredivo is accepted at more than 4,000 online and offline merchants and provides instant credit limits of up to IDR 50,000,000.
Kredivo shares that it takes 5 minutes to register, and thereafter, consumers can shop securely with PINs and OTPs protecting their accounts. Merchants in their list include Bukalapak, Tokopedia, Zalora, Lazada and IKEA.
Akulaku
According to its website, Akulaku PayLater offers credit limits of up to IDR 25,000,000, with approvals typically processed within just five minutes. The service is widely available as a payment option across more than 1,000 partner merchants, making it relatively simple to use.
Users can split their purchases into up to 12 monthly instalments, and payments can be made across popular platforms such as tiket.com, Bukalapak, and Alfamart.
Details on late payment fees are limited online; Akulaku notes that this information is provided directly within the app for users applying for or managing loans. Akulaku’s presence goes beyond Indonesia, too, expanding into Malaysia, Vietnam and the Philippines.
Atome
Atome operates in Indonesia under PT Atome Finance Indonesia, a company that is licensed and supervised by the country’s Financial Services Authority (OJK).
Its BNPL product, Atome PayLater, lets users split purchases into up to 12 months, available at participating online and in‑store merchants with a quick sign‑up process, making it easy for first‑time users to get started.
Atome highlights that its users can enjoy interest starting from 0%. As of now, the late payment fee is not disclosed on Atome’s website and may be viewable on the Atome Indonesia app instead.
Aside from that, Atome also offers the Atome Card, which is advertised as free of admin fees and hidden costs.
SPayLater
SPayLater is a BNPL service integrated into the Shopee app in Indonesia. It offers instalment plans of up to 24 months, though availability is limited to select users.
Choosing to pay the following month comes with 0% interest. Longer instalment plans, which start from 3 months, carry an interest rate of 1.95% onwards of the total payment amount.
What’s Next for BNPL in Indonesia?
While Indonesia’s surge for BNPL is definitely rewiring how its consumers view financing, it comes with inherent risks for the consumers, too. Earlier last year, mounting BNPL debt spurred the OJK to intervene and tighten oversight around its usage.
The result was a wave of new regulations, most notably Regulation 32/2025, which applies to commercial banks and multi-finance companies. Under this rule, providers are required to disclose key information to users, and those who fail to comply could face fines of up to IDR 50 billion.
Further rules set to take effect no later than 1 January 2027 will narrow eligibility: BNPL services will only be accessible to users aged 18 and above (or married) with a minimum monthly income of IDR 3 million.
Providers will also be required to clearly communicate the risks of over-borrowing, and all transactions must be recorded in the national financial information system (SLIK) — enabling repayment behaviour to be tracked across lenders.
Frequently Asked Questions (FAQs)
Is BNPL regulated in Indonesia?
BNPL in Indonesia is in the works to become regulated. The country will be rolling out stricter regulations on BNPL effective 1 January 2027. Key measures include minimum age and income requirements. Applicants must be aged 18 years (or married) and above, aside from earning a minimum of IDR 3 million to qualify for BNPL.
What is BNPL?
Buy Now, Pay Later (BNPL) is a short‑term instalment credit solution that lets consumers split their purchase into smaller payments, often interest‑free, without needing a credit card. It’s designed for convenience and accessibility. Most plans require you to make the first payment up front, and the rest are split into a few months.
Who are the top BNPL providers in Indonesia?
As of October 2025, the top BNPLs in Indonesia are Kredivo, Akulaku, SPayLater, and Atome.
Are there any extra fees I know about when using BNPL in Indonesia?
Yes. Beyond late payment penalties, some BNPL providers also charge interest on overdue amounts or add transaction processing fees to each transaction. It’s best to check the fee details in the provider’s app or on their website before you confirm a BNPL purchase.
Featured image: Edited by Fintech News Indonesia, based on images by Atik sulianami on Unsplash and EyeEm on Freepik