Understanding Paylater: Flexible Online Loan Services

Rancakmedia.com – Do you already know the meaning of paylater? Akulaku paylater is one of the services that can be used to make loans online. With the development of very sophisticated technology, making transactions easier.

Now you don't need to pay for products purchased in cash, you can use paylater as a payment method.

For those of you who often shop online, you are definitely familiar with paylater. Literally, paylater can be interpreted as "pay later".

In short, you can buy the items you want with an installment payment method that is not much different from a credit card.

Definition of Paylater (Source: tanaonte via Canva)

But by using a paylater, you don't need to have a credit card. You only need to submit a paylater application to the finance company in question, and wait a moment to get approval.

It's no wonder that paylater is starting to shift credit card positions, instead of having to bother submitting credit card applications and not necessarily getting approval from the bank concerned, paylater is the best solution.

Even though it is a good solution for the community, there are still many who don't know about the paylater method. Therefore we want to discuss the meaning of paylater in detail.

Definition of Paylater

As we have discussed above, that paylater comes from the word "Pay" which means to pay and "Later" which means later.

Broadly speaking, paylater is a payment method that offers installments in advance when you buy a product.

Then you will pay the bill according to the due date in the following month, the payment term can be adjusted according to the tenor you choose.

But there are still many who are confused about the meaning of paylater, paylater is a combination of two English words, namely pay and later. What you can simply understand about paylater is the purchase method with payment on the back.

Very practical right? Currently, paylater is available on various platforms, ranging from e-commerce, marketplaces, online transportation, and various other digital companies.

List of Paylater Applications

Below this rancakmedia.com have summarized what paylater applications are currently available and are in great demand by many people, as follows:

1. Spaylater or Shopee Paylater

Shopee Paylater is here as an installment credit service when you shop at Shopee. By choosing this payment method, you can buy products without a minimum purchase and pay in installments according to the tenor you choose.

List of Paylater Apps (Source: Duncan_Andison via Canva)

Currently, Shopee offers instant loans of up to Rp. 15,000,000 and can increase according to the amount of customer consumption with a period from one to twelve months.

2. GoPay Paylater

GoPay Paylater is a postpaid payment method that can be enjoyed by selected Gojek customers. It's not arbitrary, to use this service, you must be registered as part of GoPay Plus by sending a photo or scan of your KTP and a photo with your KTP.

GoPay Paylater is available for several facilities provided by Gojek, such as GoRide, GoCar, GoFood, GoSend and so on.

3. Kredivo

Kredivo also allows you to get a loan of up to IDR 3,000,000 without interest with a one month repayment period.

You can use this Paylater application in several e-commerce sites that work with Kredivo, such as Bukalapak, Lazada, Tokopedia and so on.

4. Akulaku

As a platform that provides buying and selling services, Akulaku also offers a paylater service that allows you to apply for a cash loan of up to Rp. 15,000,000 with various tenors.

Apart from that, Akulaku also provides two other paylater products, namely Akulaku for users and Akulaku for merchants.

5. Ovo Paylater

Ovo Paylater is a paylater application that can be used when you shop at Tokopedia. Not arbitrarily, this service can only be enjoyed by Ovo Premier users.

So for those of you who are interested in using it, you need to register first by uploading your KTP and a photo of yourself with your KTP.

How to Pay Paylater

As we discussed earlier, payments from user transactions will be prepaid by the paylater service provider.

Furthermore, users will be given a time limit to pay off payments, ranging from one month, three months, six months, nine months, twelve months, even up to twenty-four months.

Within this period, the user is given the opportunity to use the product that has been purchased like a credit method in general.

How to Pay Paylater (Source: Duncan_Adison via Canva)

However, in the paylater method, the service provider concerned will usually set a credit limit or commonly known as a paylater limit.

The number of limits set usually varies, depending on the rules owned by the service provider.

The more often someone uses a paylater without any problems in the payment process, it is possible that the limit offered will increase.

Advantages and Weaknesses of Using Paylater

Each payment method used definitely has advantages and disadvantages that will be obtained, as well as the paylater.

Before you use a paylater, there's nothing wrong with knowing what the advantages and disadvantages are, as follows:

Advantages of Using Paylater

The following are the advantages that you will get if you use a paylater, namely:

1. The Paylater Application Submission Process is Easy and Fast

Starting from the registration process to submitting a paylater application, both are very easy for you to do. You only need to follow the instructions provided in the paylater application that you are using.

Even though there is interest on the paylater, the amount of interest for the paylater varies depending on the platform used.

So it's a good idea to find out in advance about the terms related to interest before choosing to pay using a paylater service so that it can be adjusted to real purchasing power.

2. Can Be Used Anytime and Anywhere

As you all know, the entire paylater application submission process is done online. That way you can use paylater anytime and anywhere according to your needs, especially in urgent situations.

3. Flexible Term

Another advantage that you can get from using a paylater is that the time period or tenor is quite flexible.

Each paylater service provider offers various tenors. Generally the specified time period is three to twelve months.

Weaknesses of Using Paylater

The following are the weaknesses that you can get if you use a paylater, namely:

Advantages and Disadvantages of Using Paylater (Source: Oko_SwanOmurphy via Canva)

1. Become More Consumptive

It's best to be careful with the mindset of getting the product you want in a short period of time by spending a small amount of money.

Because the first loss that you can get is that it can make you more consumptive.

With low interest rates and various other interesting offers, you can lose control and end up buying the things you want without careful calculations.

You need to remember, that paylater is a payment method that makes it easier for you to meet urgent needs.

2. Swollen Payment Bills

Apart from being able to make you more consumptive, the disadvantage of using the next paylater is that it makes the payment bill swell.

Therefore, before using a paylater, you should choose wisely which products you will need urgently.

To deal with inflated payment costs, users sometimes object to completing their bills.

Because when a person is in arrears of a paylater bill, that person is considered late in paying, and the platform will generally provide different late fees according to the provisions.

Therefore, make sure to complete installments and bills on time so you don't get fined which will make the total value of the bill even bigger.

3. Unsafe

The last weakness that you will get if you use paylater is a security problem. When compared to bank credit cards, the security of the paylater is still very low.

Currently there are not a few paylater service providers that offer a variety of attractive offers, but their security is not guaranteed. Therefore, make sure the paylater application that you use is supervised by the service authority finance (OJK).

Tips on Using Paylater So You Don't Waste

Using a paylater does have the potential for addiction and it's wasteful to want to buy any product in a short amount of time. Here are tips that you can use so you don't waste your time on it:

1. Understand the Paylater Provider Institution Regulations

The first tip you can do is understand the paylater provider's rules, you must carefully and thoroughly read the paylater provider's policies before deciding to use it. That way, you can adjust to the rules that have been set.

Tips on Using Paylater to Avoid Wasteful (Source: Przemek Klos via Canva)

2. Limit the Loan Amount as Needed

The second tip for paylater users so they are not wasteful is to limit the loan amount according to need. Because the paylater limit is quite large, you can use it to shop as much as you want, causing waste.

3. Refrain from buying too much

The next tip that is no less important is to control yourself not to buy too many products that are not too important.

You have to be able to control yourself to buy necessities according to your needs, try to make considerations before making a transaction so you can avoid irrational decisions when buying (such as limited edition products, discounts, free shipping, and so on).

4. Pay Paylater Before Due

The tip for using the next paylater is to pay the paylater on time or before it is due.

You need to do this to avoid fines that need to be paid, so you avoid waste.

5. Use the Paylater Feature on One Platform Only

The last tip you can do is to use a paylater with only one platform or application.

We recommend that you don't register accounts on multiple paylater platforms so you can control the use and settlement of bills.


Paylater comes from the word "Pay" which means to pay and "Later" which means later. Broadly speaking, paylater is a payment method that offers installments in advance when you buy a product.

This is information about the meaning of flexible online paylater loan services, I hope the above article can be useful and helpful for all of you.

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