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Ayoconnect and Kredivo Collaborate to Simplify Transactions for Customers and Boost Financial Inclusion

Ayoconnect and Kredivo Collaborate to Simplify Transactions for Customers and Boost Financial Inclusion

5 min read
August 7, 2023

The synergy made possible with Ayoconnect’s Direct Debit APIs and enables seamless loan repayment transactions and thus eliminating repetitive verifications for millions of Kredivo’s users across Indonesia

(Jakarta, August 3 2023) In a significant development for the fintech industry, Ayoconnect, Southeast Asia's leading Open Finance API platform and Indonesia's only licensed open finance player with a coveted category 1 permit for Bank Indonesia Payment Service Providers, has announced a groundbreaking collaboration with Kredivo, the leading digital credit platform in Indonesia. The result of this collaboration is a successful launch of Kredivo’s Auto Debit feature that can be used by millions of Kredivo users across Indonesia.

The collaboration between Ayoconnect and Kredivo brings together two prominent players in the fintech landscape, with both companies aiming to simplify financial transactions and financial services inclusions in Indonesia. According to 2023 Indonesian e-Commerce Consumer Behavior Report by Kredivo and Katadata Insight Center (KIC), Paylater is on track to become one of the fastest-growing payment method, 45.9% of consumers have used Paylater when shopping on e-commerce, an increase compared to the previous year of 28.2%.

In the first phase, Kredivo's integration with Ayoconnect's Direct Debit API brings immense benefits to Mandiri and BRI’s account holders. Mandiri and BRI account holders can enjoy a seamless loan repayment experience at Kredivo without the need for repetitive verifications, allowing for swift and efficient transactions. Additionally, Kredivo can leverage convenience to drive higher customer satisfaction and ultimately boost their businesses.

Ayoconnect’s Direct Debit API simplifies the process of activating automatic recurring payments or making occasional payments on any financial platform through one-time account binding. Once customers successfully link their accounts, they can enjoy a seamless auto debit feature for future transactions without the need for tiresome account verification. In this case, Kredivo's Auto Debit enables Mandiri and BRI account holders to repay their loans conveniently.

This feature has become increasingly popular in the fintech industry and businesses that offer recurring payments or subscriptions such as insurance companies, over-the-top (OTT) platforms, e-commerce, and other nonfinancial institutions that want to elevate their users' payment experience.

Commenting on the collaboration, Chiragh Kirpalani as Founder and COO of Ayoconnect expressed enthusiasm about the partnership's potential impact on the Indonesian fintech landscape.

"We are thrilled to collaborate with Kredivo, the leading financial technology company that shares our vision of simplifying financial transactions. By integrating Kredivo's services with our Direct Debit API, we aim to create a more seamless and secure loan repayment experience for users, ultimately fostering financial inclusion and driving economic growth. Moving forward, we will continue to collaborate with the ecosystem to achieve said missions."

Umang Rustagi, CEO of Kredivo Indonesia also highlighted the significance of the collaboration, stating,

"Our partnership with Ayoconnect marks an important step in our commitment in providing the best customer experiences. Through this integration, we aim to elevate the loan repayment experience for Kredivo users, making transactions faster, secure, and more enjoyable. Moreover, this partnership is aligned with our mission to serve tens of millions of users in the coming years with innovative financial services"

The collaboration between Ayoconnect and Kredivo represents a transformative stride towards advancing the fintech industry in Indonesia. By leveraging Ayoconnect's Open Finance capabilities and Kredivo's leadership in the Indonesian paylater industry, both companies are poised to redefine the transaction landscape, bringing about greater efficiency, security, and convenience for customers.


About Ayoconnect

Founded in 2016, Ayoconnect is Southeast Asia’s largest Open Finance API platform. The company is building full-stack solutions with the mission to power the leading companies of today and tech unicorns of tomorrow. Its powerful embedded finance and data solutions help companies of all sizes to move forward quickly and launch banking and payment services within just a few weeks. Ayoconnect’s tech solutions are trusted by more than 200 clients, including leading financial institutions and tech companies such as Bank Mandiri, BRI, Dana, and Bukalapak.

Headquartered in Jakarta, Indonesia, the company is backed by some of the world’s most respected venture capital firms including BRI Ventures, Mandiri Capital Indonesia, Tiger Global, SIG, PayU, and Mastercard.

Ayoconnect Communication Contact

Ambar Nurul Ansari (Nurul), +62 856 3683 094

Adrini Widya Putri (Arin), +62 812 8485 2570

About Kredivo

Kredivo is the leading digital credit platform in Indonesia that gives customers instant credit financing for ecommerce and offline purchases, and personal loans, based on real-time decisioning. Kredivo users can buy now and pay later with one of the lowest interest rates amongst digital credit providers in the country. Kredivo's merchant partners benefit from instant point-of-sale financing, powered by its unique 2-click checkout. Kredivo is operated by Kredivo Group (formerly known as FinAcce), a Singapore-headquartered financial technology company backed by leading investors such as Mizuho Financial Group, Square Peg Capital, Telkom Indonesia, Jungle Ventures, Mirae Asset, and Naver. Kredivo is supervised by OJK’s multi-finance division in Indonesia. To learn more about FinAccel and Kredivo, visit and

Media Contact

Artemis (Kredivo Communication Consultant)

Inmas Ayu (Nimas)

(+62) 813 1915 5282

Kredivo Indonesia

Tubagus Aditya