Kredivo has over 4,000 merchant partners in Indonesia. That tells you it works — not that it works for your store, your platform, or your margins.
This review covers all three. Fees, settlement terms, platform coverage, and how Kredivo compares to SPayLater and Akulaku — with the numbers you need before you contact their merchant team.
What Is the Kredivo Merchant Program and How Does It Work?
Kredivo is Indonesia’s largest independent buy-now-pay-later provider for ecommerce merchants, with 4,000+ active partners across Tokopedia, Lazada, Bukalapak, Blibli, and independent stores. Merchants integrate once; Kredivo handles consumer credit underwriting, repayment collection, and disbursement. The seller receives the full transaction value within 3–5 business days — regardless of the consumer’s repayment schedule (Kredivo merchant page).
On the consumer side, buyers apply to Kredivo once and receive a credit limit — up to Rp 30,000,000 — that they can use at any Kredivo-enabled merchant. At checkout, buyers choose to pay in full within 30 days or split across 3, 6, 12, 18, or 24 monthly instalments. Kredivo underwrites the credit risk. If a buyer defaults, collections are Kredivo’s responsibility, not yours.
For marketplace sellers on Tokopedia, Lazada, Bukalapak, and Blibli, integration is handled at the platform level. Once your Kredivo merchant account is active and linked, Kredivo appears in the checkout payment options automatically. No separate API work is required on the seller side — the platform surfaces it once your account is live.
For independent ecommerce stores, Kredivo provides a REST API and pre-built plugins for WooCommerce, PrestaShop, Magento, and OpenCart, per Kredivo’s partner documentation (kredivo.id/jadi-partner.html). Basic developer support is typically needed for custom implementations beyond the standard plugins.
Merchants manage their account through two portals: merchant.kredivo.com for onboarding and account management, and seller.kredivo.com for day-to-day transaction tracking, settlement reports, and refund processing.
Kredivo reports at least 30% higher retail sales for participating merchants, per its merchant page. Individual results vary by category, average order value, and buyer credit profiles.
What Are Kredivo’s Merchant Fees and How Long Does Settlement Take?
Kredivo charges 1% MDR on 30-day paylater transactions, per Kredivo’s RIPLAY document published June 2024. Instalment plan MDRs for 3–24 month plans are negotiated individually and not publicly listed. Indonesian seller communities report typical instalment MDRs in the 2–3% range. Settlement occurs within 3–5 business days. No setup fee. No monthly minimum.
| Plan | Minimum Order | MDR | Settlement |
|---|---|---|---|
| 30-day Paylater | Rp 300,000 | 1% (per RIPLAY, June 2024) | 3–5 business days |
| 3-month Instalment | Rp 300,000 | Negotiated (typically 2–2.5%)* | 3–5 business days |
| 6-month Instalment | Rp 300,000 | Negotiated (typically 2–2.5%)* | 3–5 business days |
| 12-month Instalment | Rp 300,000 | Negotiated (typically 2.5–3%)* | 3–5 business days |
| 18-month Instalment | Rp 300,000 | Negotiated (typically 2.5–3%)* | 3–5 business days |
| 24-month Instalment | Rp 300,000 | Negotiated (typically 2.5–3%)* | 3–5 business days |
*Instalment MDRs are not published by Kredivo. The 2–3% range reflects reports from Indonesian merchant communities and seller forums. Contact merchant.kredivo.com for your specific negotiated rate before signing a merchant agreement.
Fee mechanics that affect your margin calculations:
- MDR is charged on the full transaction value, separate from any platform commission Tokopedia, Lazada, or other marketplaces charge on the same order
- A Rp 1,200,000 item sold on a 12-month instalment plan at a 2.5% MDR results in a Rp 30,000 Kredivo fee per transaction — at 3% MDR, that is Rp 36,000
- Refunds processed after settlement are deducted from your next disbursement cycle; plan your refund reserve accordingly so disbursements are not held up
- There is no monthly minimum fee, annual fee, or setup cost to join the merchant program
- For platform sellers: Kredivo disbursements may be consolidated with marketplace payouts depending on your specific integration type; verify the exact disbursement flow with Kredivo during onboarding
Instalment MDR locks in at signing — negotiate before you commit, especially if projected monthly GMV exceeds Rp 50,000,000. Rate adjustments require a new merchant agreement.
What Are the Pros and Cons of Accepting Kredivo as a Payment Method?
Kredivo’s merchant advantages include wide platform coverage across major Indonesian marketplaces, a competitive 1% MDR on 30-day plans, zero setup cost, and at least 30% higher retail sales claimed for participating merchants (kredivo.com/merchant). The primary drawbacks are non-published instalment MDRs, consumer-side approval rates you cannot control, and no Shopee integration.
Pros
Broad marketplace coverage with no extra integration work. Tokopedia, Lazada, Bukalapak, and Blibli all support Kredivo natively. Once your merchant account is active, Kredivo appears at checkout across all linked platforms without additional technical work on your side.
Most competitive published MDR in Indonesian BNPL for 30-day plans. The 1% fee for 30-day paylater is among the lowest of any independent BNPL provider currently operating in Indonesia. Starting with the 30-day plan is a low-cost way to test BNPL conversion before negotiating instalment rates.
Kredivo carries all credit and collection risk. You receive the full transaction value regardless of whether the consumer repays on schedule. Defaults, late payments, and collections are Kredivo’s problem. Your margin is protected once the transaction is confirmed.
High consumer credit limits support higher-AOV purchases. Consumer credit limits reach up to Rp 30,000,000 — higher than most competing Indonesian BNPL providers. For sellers with high-ticket items, larger limits mean fewer buyers hit a ceiling that blocks the purchase.
Zero upfront cost to join. No setup fee, no monthly minimum, no annual commitment. The only cost to enable Kredivo is the transaction MDR on successful BNPL purchases. If BNPL conversion underperforms, your financial exposure is minimal.
Pre-built plugins reduce technical barrier for independent stores. WooCommerce, PrestaShop, Magento, and OpenCart plugins are available. For sellers already on these platforms, integration is significantly faster than building against Kredivo’s REST API directly.
Cons
Instalment MDRs are not public. You cannot compare Kredivo’s instalment rates against SPayLater or Akulaku without requesting a direct quote. The 2–3% range from seller communities is an estimate, not a Kredivo rate card. Budget time for negotiation before you can make a full cost comparison.
No Shopee integration exists. Shopee Indonesia’s checkout is exclusive to SPayLater. There is no pathway to offer Kredivo within Shopee’s payment options. Shopee-first or Shopee-only sellers get zero value from the Kredivo merchant program.
Consumer approval rates are outside your control. BNPL approval is Kredivo’s underwriting decision. Not every buyer who selects Kredivo will be approved. For younger demographics or buyers with limited credit history, abandonment at the BNPL step may be higher than expected.
Formal Indonesian business entity required. Kredivo’s onboarding process requires a registered PT, CV, or similar entity with a matching NPWP and business bank account. Informal sellers and sole traders face additional review friction and may not qualify.
Payment reconciliation adds operational complexity. Managing a Kredivo disbursement schedule alongside marketplace payouts and direct payment gateway settlements adds reconciliation overhead. For sellers without dedicated finance operations, this is a meaningful administration cost.
Evaluating your full payment stack for Indonesia? The Buy Now Pay Later for Ecommerce hub covers every BNPL provider and how they interact with your broader payment gateway setup — no pitch, just the comparison data.
How Does Kredivo Compare to SPayLater and Akulaku for Indonesian Merchants?
Kredivo is the most practical BNPL option for multi-platform sellers on Tokopedia, Lazada, Bukalapak, and independent stores. SPayLater is Shopee-exclusive and is not a competitive choice — it is automatic for Shopee sellers. Akulaku covers overlapping platforms but converts more effectively in electronics and appliances than general merchandise. For most sellers not exclusively on Shopee, Kredivo is the logical starting point.
SPayLater
SPayLater is Shopee Indonesia’s built-in BNPL product. It is not a Kredivo competitor in any practical decision sense: if you sell on Shopee, SPayLater is already available through Seller Centre — no separate signup, no negotiation, and no contact with any BNPL provider. If you do not sell on Shopee, SPayLater is irrelevant to your checkout setup.
The fee structure for SPayLater is bundled into Shopee’s standard seller commission and is not separately itemized as a standalone MDR. For Shopee sellers, enabling SPayLater adds zero incremental direct cost, which makes it effectively mandatory for any seller on Shopee who wants a BNPL option.
Choose SPayLater when: You sell exclusively or primarily on Shopee Indonesia. Activation takes minutes and requires no merchant application process with a third-party provider.
Akulaku
Akulaku operates on Tokopedia and Lazada — the same core marketplaces as Kredivo — and offers instalment-based BNPL for Indonesian buyers. Its consumer base trends toward electronics, home appliances, and higher-ticket categories. Consumer credit limits reach up to Rp 20,000,000 per Akulaku’s publicly available product information — lower than Kredivo’s Rp 30,000,000 ceiling, which matters for higher-priced items.
Akulaku does not publish an MDR rate card. Contact their merchant team directly for rates. For sellers in electronics or high-ticket home goods, Akulaku’s buyer profile and category-specific approval patterns may yield better conversion than Kredivo in those segments.
Choose Akulaku when: Your catalog is primarily electronics, home appliances, or high-ticket goods and your primary marketplaces are Tokopedia or Lazada. Akulaku and Kredivo are not mutually exclusive — multi-platform sellers can activate both and let buyer preference determine which converts.
Indodana
Indodana operates on select platforms and direct integrations with a smaller consumer network than either Kredivo or Akulaku. Consumer credit limits reach up to Rp 8,000,000 based on publicly available product information — significantly lower than Kredivo’s ceiling. Indodana is better positioned as a secondary BNPL option rather than a primary program.
Choose Indodana when: You want a secondary BNPL provider to layer alongside Kredivo on your independent store, particularly if your average order value sits below Rp 2,000,000 where Indodana’s lower limit does not restrict buyers.
For a full comparison of all Indonesian BNPL providers with fee tables and platform coverage, see the Kredivo Seller guide which covers the program mechanics and marketplace-by-marketplace breakdown in detail.
Is the Kredivo Merchant Program Worth Enabling for Your Store?
Kredivo is worth enabling for multi-platform Indonesian ecommerce sellers on Tokopedia, Lazada, Bukalapak, Blibli, or their own independent store. The 1% MDR on 30-day paylater is low-risk to test first. Shopee-only sellers, informal businesses without formal Indonesian registration, and stores with average order values consistently below Rp 300,000 will see minimal benefit.
Kredivo is the right fit if:
- You sell on Tokopedia, Lazada, Bukalapak, Blibli, or run an independent Indonesian ecommerce store
- Your average order value regularly sits between Rp 500,000 and Rp 3,000,000 — the range where Indonesian BNPL conversion tends to be strongest based on patterns reported across seller communities and Kredivo’s own merchant data
- Your catalog is in fashion, electronics, home goods, health and beauty, or similar categories where buyers actively consider installment options at checkout
- Your business is formally registered as a PT or CV with a matching NPWP and business bank account
Kredivo is not the right fit if:
- You sell exclusively on Shopee — SPayLater covers that channel automatically and Kredivo adds nothing
- Your average order value is consistently below Rp 300,000, where most buyers default to bank transfer, e-wallet, or COD rather than BNPL
- You are an unregistered seller or sole trader who cannot meet Kredivo’s entity documentation requirements
- You sell digital goods, groceries, or categories with very low BNPL adoption — the fee cost will not be recovered through conversion lift
How to test before committing to instalment plans: Enable the 30-day paylater option first. At 1% MDR, the cost of a failed test is minimal. Run the 30-day plan for 60 to 90 days and track whether BNPL-attributed orders show meaningfully higher average order values than non-BNPL orders on the same products. If they do, you have the transaction data to negotiate instalment MDRs from a position of demonstrated volume rather than projected volume.
The fee math for instalment plans is straightforward: a Rp 1,500,000 item at a 2.5% instalment MDR costs you Rp 37,500 per converted sale. Against Kredivo’s own data showing at least 30% higher retail sales for merchant partners (kredivo.com/merchant), recovering Rp 37,500 on a conversion that would otherwise have been abandoned is a favorable trade for most margin structures above 15–20%.
Frequently Asked Questions
How do I register as a Kredivo merchant?
Apply at merchant.kredivo.com with your business name, registered address, product category, estimated monthly volume, SIUP or NIB, NPWP, and an active business bank account. Kredivo reviews applications within 5–10 business days. There is no setup fee or monthly minimum. Kredivo’s merchant onboarding requires a formally registered Indonesian business entity — sole traders may face additional documentation requirements during the review process.
What is Kredivo’s merchant discount rate (MDR)?
Kredivo charges 1% MDR on 30-day paylater transactions, per Kredivo’s RIPLAY document published June 2024. Instalment plan MDRs for 3 to 24-month plans are negotiated individually and not publicly listed. Indonesian seller communities report typical instalment MDRs in the 2–3% range, varying by transaction volume and product category. Request a written rate quote from merchant.kredivo.com before signing a merchant agreement.
Does Kredivo work on Shopee Indonesia?
No. Shopee Indonesia exclusively uses SPayLater at checkout — Kredivo is not available as a payment option within Shopee’s payment flow. For Shopee sellers, SPayLater is the only BNPL route and is activated through Seller Centre without any contact with Kredivo. Kredivo is relevant for sellers on Tokopedia, Lazada, Bukalapak, Blibli, and independent stores.
How long does Kredivo take to disburse funds to merchants?
Kredivo disburses to merchants within 3–5 business days after transaction confirmation, per Kredivo merchant documentation. Sellers integrated through Tokopedia, Lazada, or Bukalapak receive payouts through each platform’s own disbursement schedule, not directly from Kredivo. Direct API integrations settle to your registered Indonesian bank account within the standard 3–5 day window.
Is Kredivo better than Akulaku for most Indonesian merchants?
Kredivo offers broader platform coverage across Tokopedia, Lazada, Bukalapak, and Blibli and a larger consumer base for general merchandise. Akulaku converts more effectively in electronics and high-ticket appliance categories. For most general merchandise sellers seeking wide BNPL reach in Indonesia, Kredivo is the stronger starting point — Akulaku is worth adding as a secondary layer for electronics-heavy catalogs.