Akulaku Establishes Partnership with Alipay+ To Make Cross-Border Shopping More Accessible for Consumers
14.9.2022 16:28:00 EEST | Business Wire | Press release
Akulaku (“Akulaku” or “the Company”), a leading banking and digital finance platform in Southeast Asia, today announced the Akulaku PayLater partnership with Alipay+, which will allow Indonesian consumers to use its BNPL solution Akulaku PayLater at Alipay+’s global merchants. Alipay+, a suite of global cross-border digital payments and marketing solutions, will now include Akulaku PayLater among its supported digital payment methods, and merchants will be able to access Akulaku PayLater as a payment method.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220906005671/en/
Akulaku PayLater is the first BNPL wallet in Southeast Asia to partner with Alipay+ (Photo: Business Wire)
Consumers and merchants across Indonesia have quickly adopted Akulaku PayLater since its launch in 2016 (previously called Akucicil). The platform’s BNPL functionality provides individuals who have limited credit history with access to a convenient line of credit as well as manageable installment plans. By meeting the increased demand for flexible payment plans and installment purchasing, Akulaku PayLater promotes consumer purchasing power and ensures previously underserved markets can participate in a convenient digital financial service.
“This partnership will lead to a more advanced and convenient financial landscape for customers in Indonesia and throughout Southeast Asia,” said Fan Zhang, CFO of Akulaku. “Through Alipay+, we will quickly scale the pool of merchants accepting Akulaku PayLater, giving our consumers an enhanced user experience and improving the market competitiveness of BNPL products. The combined resources will reach underserved markets with immediate financial services, fostering growth within these regions across industries.”
According to market research firm eCommerceDB, the Indonesian online commerce market grew 32% in 2021 and is currently the ninth largest in the world. Over the next five years, the Indonesian eCommerce market is projected to grow at a yearly rate of 10%, making this partnership a timely solution to meeting the increased demand from Indonesian consumers for online shopping. More than 4,000 merchants are already online in the Akulaku PayLater system online. Over the next two years, Akulaku aims to serve 10,000 online merchants and over 100,000 offline stores with BNPL.
“As a newly-emerged but rapidly adopted digital payment method, BNPL brings inclusive financial services to the underbanked communities," said Cheng Guoming, General Manager, Global Partnerships, Alipay+," We see BNPL an important part of the digital payment ecosystem, and are excited to reach this partnership with Akulaku PayLater to enable the communities in Indonesia and other potential markets to enjoy seamless and convenient cross-border payment services and enrich their daily lives through global shopping experience."
Introduced in 2020, Alipay+ is designed to enable global businesses, especially small and medium-sized businesses, to accept digital payment methods from various countries and reach hundreds of millions of regional and global consumers.
Akulaku and Alipay+ are also exploring opportunities to further extend their partnership to other markets in Southeast Asia.
About Akulaku
Akulaku is a leading banking and digital finance platform in Southeast Asia, with a presence in Indonesia, the Philippines, and Malaysia. Akulaku exists to help meet the daily financial needs of underserved customers in emerging markets through digital banking, digital financing, digital investment, and insurance brokerage services. In addition to the Akulaku virtual credit card and ecommerce platform, the company operates Asetku, an online wealth management platform, and Neobank, a mobile digital bank supported by Bank Neo Commerce. Akulaku’s mission is to serve 50 million users across Southeast Asia by the year 2025.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220906005671/en/
Contact information
Media Inquiries
Yeli Yang
Akulaku
yangyl1@akulaku.com
Betty Bai
Ant Group
Guzhuang.bb@antgroup.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
ClickHouse Launches ClickHouse Labs With Andy Pavlo as VP of Database Research3.8.2026 16:30:00 EEST | Press release
ClickHouse today announced the launch of ClickHouse Labs, a new research group led by Andy Pavlo, one of the database industry’s most prominent researchers. Dr. Pavlo joins ClickHouse as Vice President of Database Research and will build a team dedicated to advancing the state of the art in database systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260803890510/en/ Andy Pavlo, VP of Database Research, ClickHouse Pavlo is an award-winning database researcher and professor at Carnegie Mellon University’s Computer Science Department. He is known throughout the database community for his work on autonomous databases, transaction processing, and large-scale data analytics. At ClickHouse, he will bring that expertise to some of the most ambitious and consequential challenges facing modern data systems, as AI reshapes the demands placed on all data-intensive workloads. “At ClickHouse, we are interested in finding new and inno
Lehman Brothers Treasury Considers Sale and Final Wind-Down3.8.2026 16:30:00 EEST | Press release
Lehman Brothers Treasury Co. B.V. in liquidation (“LBT”) today, through its U.S. counsel Herbert Smith Freehills Kramer (USA) LLP, announced that LBT is considering a final wind-down of its estate. In connection therewith, LBT has retained Seaport Loan Products LLC as its exclusive placement agent in connection with the potential sale of LBT’s principal remaining asset – a $19.6 billion Class 4A allowed claim against Lehman Brothers Holdings Inc. (the “LBHI Claim”). LBT expects the sale to occur, if at all, in August 2026. To the extent the LBHI Claim is sold, LBT expects to make a final distribution to the holders of its existing notes and thereafter facilitate the cancellation of those notes and the final wind down of its estate in September 2026. The foregoing is subject to further consents and authorizations and LBT retains sole discretion to abandon or otherwise discontinue any sale process at any time. Accordingly, there can be no assurances that the sale process will be conducte
EuroTeleSites Strengthens Operations One Year into Sitetracker Partnership3.8.2026 16:00:00 EEST | Press release
EuroTeleSites, one of Central and Eastern Europe's leading independent tower companies, today announced the results of its first year in partnership with Sitetracker, the leading global Asset Lifecycle Management platform. One year into the deployment, EuroTeleSites reports meaningful progress in its digital transformation, with measurable improvements in operational efficiency, cross-market transparency, and project coordination across its six-country footprint. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260727009809/en/ EuroTeleSites Strengthens Operations One Year into Sitetracker Partnership Driving Efficiency in a Complex, High-Investment Environment EuroTeleSites invests approximately 25% of its revenue into capital expenditures in 2026, funding the construction and upgrade of tower infrastructure across Central and Eastern European markets. Managing this level of scale and complexity demands robust digital support
Visa to Acquire BioCatch3.8.2026 15:30:00 EEST | Press release
Visa (NYSE: V) today announced it has signed a definitive agreement to acquire BioCatch, a leading provider of behavioral-first, multi-signal fraud intelligence, from funds advised by Permira and other shareholders for $2.4 billion in cash. The acquisition of BioCatch complements Visa’s existing cyber, fraud, risk and security solutions and is expected to help clients better protect themselves and their customers from the growing threat of account takeovers, scams, money mules and application fraud. Since its inception, BioCatch has developed innovative AI and machine learning-based solutions that analyze thousands of application, behavioral, device, and network signals—such as keystrokes, touch gestures, and device handling—to detect fraud and distinguish legitimate users from fraudsters in real time. BioCatch protects 1.8 billion devices and 760 million users around the world, serving more than 350 banking clients in 21 different countries, including more than 100 of the largest bank
U.S. Bank Investment Services enhances investor and client onboarding experience for alternative investments3.8.2026 15:16:00 EEST | Press release
U.S. Bank Investment Services today announced it has gone live with a new client lifecycle management (CLM) platform, providing a comprehensive onboarding solution for alternative investment clients and the investors in their funds. The implementation is a key milestone in Investment Services’ multi-phased technology transformation strategy, aimed at modernizing processes, workflows and reporting across the private funds space. U.S. Bank leverages CLM provider Fenergo and its Fen-X platform. Fen-X automates many of the manual processes traditionally associated with underlying investors and direct client relationships and accelerates account setup while maintaining regulatory requirements. The enhanced onboarding experience provides investors and clients with more transparency throughout the process and enables integration with other solutions providers involved in the investor journey, such as screening and tax reporting. The investor experience has been further enhanced with an invest
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom