Business

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


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

Buy now, pay later Services have increased rapidly in Southeast Asia as a result of the Covid-19 pandemic. Grab Holdings Sea Ltd. and GoTo Group are both providing customers with short-term loans to help them pay for a wide range of products and services, including taxis, food delivery and beauty products. The most recent service rollout in the region was in July, when GoTo launched a postpaid service called GoPayLater Cicil — which means “installment” in Indonesian.

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