Danakini, an information technology-based financial service, Member of Kawan Lama Group, that already has a permit from the Financial Services Authority (Otoritas Jasa Keuangan), cooperates with Yokke, a financial technology company, provider of the most complete digital payment solution in Indonesia, realizing transaction payment with kiniBayar paylater from Danakini through EDC (Electronic Data Capture) machine. The implementation of this new feature was started gradually in April 2023 at ACE and INFORMA stores in Jabodetabek areas, as retail stores of Kawan Lama Group. The purpose of this cooperation is to reduce the transaction and verification time of the kiniBayar paylater feature to about two minutes, while still ensuring security.
kiniBayar is a payment feature of BNPL (Buy Now Pay Later) released by Danakini in August 2021. This feature accommodates users’ needs of purchasing retail products with tenor options of 3, 6, 9, to 12 months, competitive interest, and without an administration fee. Since released, kiniBayar users keep growing significantly, even in the fourth quarter of 2022, the growth reached more than 90% compared to the third quarter.
To do the payment, Danakini user who has had kiniBayar limit and shop at a merchant that has cooperated with Danakini simply tell their phone number to the cashier. The cashier then inputs the number and shopping amount on the Yokke EDC machine. Users then will have to confirm through Danakini mobile app, choose the payment tenor, and (if any) input the promotion code. The process then continues with the signing of the use agreement digitally and verification through OTP code (One-Time Password) that will be sent to the user’s phone.
Gregory Sugyono Widjaja, CEO of PT Dana Kini Indonesia (Danakini), stated, “Seeing the continuous growth of Danakini users, we feel the importance of enhancing our services. That’s why we cooperate with Yokke as a technology company that is able to accelerate the verification process, especially to answer the millennials’ needs as the majority of kiniBayar users, who always want anything, can be faster and simpler. We started implementing kiniBayar payment and verification easiness through Yokke EDC at ACE and INFORMA, two big retail brands of Kawan Lama Group, in Jabodetabek starting this April. Later, the service will gradually come at other Kawan Lama Group retail stores.”
The President Director of PT Mitra Transaksi Indonesia (Yokke), Niniek Rahardja, said, "This cooperation is based on missions similarity between Yokke and Danakini, who want to bring transaction easiness to all Indonesian people. Yokke comes as a technology enabler that makes sure every transaction process is safe, comfortable, and smooth. While Danakini comes with financing access easiness to all. The addition of kiniBayar payment in Yokke EDC machine starts from the same spirit, providing easiness and transaction variation to customers in Indonesia.”