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'Buy now, pay later' is growing quickly in Southeast Asia, says FinAccel CEO

Akshay Garg, CEO of FinAccel, the parent company of Indonesia's "buy now, pay later" (BNPL) service Kredivo, says the lack of credit card penetration in some Southeast Asian countries has fueled the popularity of BNPL services in the region. For instance, fewer than 10% of Indonesia's population eligible for a credit card actually holds one, and similarly in the Philippines and Vietnam.
02:58
Thu, Aug 5 20212:19 AM EDT