UOB Indonesia Launches E-Commerce BNPL Service “TMRW Pay”by Fintech News Indonesia December 13, 2021
UOB’s mobile-only banking solution TMRW announced the launch of TMRW Pay, an e-commerce loan that enables consumers in Indonesia to manage their budgeting needs.
TMRW Pay offers consumers deferred payment services, with zero interest for up to 90 days and instant credit approval through TMRW’s partner, Bhinneka’s website and app.
Bhinneka is an online-to-offline e-commerce platform in Indonesia that has more than one million monthly active users and 70,000 unique products listed.
UOB said that its data showed that more than half of the transactions on the TMRW credit cards were for e-commerce purchases from January to October 2021.
The bank indicated that it will be working with more “like-minded partners” to offer its customers easier online access to credit.
Hendra Gunawan, President Director, UOB Indonesia said,
“As e-commerce activities continue to grow, consumers are seeking alternative modes of financing to manage their budgeting needs and we anticipate that deferred payment services will become more popular.
This is why we are pleased to partner Bhinneka, one of the leading e-commerce platforms in Indonesia, to offer TMRW Pay to Indonesian consumers looking for greater flexibility with their expenses.”