Interest-free instalments with a debit card

Friday, 24 December 2021 02:11 - - {{hitsCtrl.values.hits}}

For the first time ever in Sri Lanka debit card users now have access to credit limits to shop online and offline. Thanks to the latest venture by Alibaba’s Daraz, Koko, the latest mobile app-based payment platform, allows customers to ‘buy now and pay later’ in three interest free instalments.

These three instalments can be spread over 60 days via a debit card. As opposed to more traditional payment schemes, Koko does not hold the full value of the purchase from a shopper’s debit card. It is the best way to shop to your heart’s content without worrying about breaking the bank. Not only is it convenient and hassle free, it also allows users to better manage their finances during these unprecedented times.

Koko is user friendly and anyone can get started easily by simply downloading the app on their mobile phone and registering. Within approximately a minute of downloading, you will receive approvals on the spending limit.

Debit card users will be entitled to an average of Rs. 15,000 to shop either online or instore. After downloading customers would next be led to the shopping tab from which they can browse through all the available merchants. Before shopping, customers need to ensure that they tap on the My Koko section of the app and link their debit card. In order to increase the spending limit, customers are encouraged to upload their NIC, most recent salary slips and utility bill. Through these Koko will conduct a soft credit check on each new customer, ensuring that they are able to pay later.

With an ever-growing customer base of over 100,000 active users, Koko is the ideal shopping partner for anyone who is looking for a more inclusive experience through flexible payment schemes.

Standing strong with over 500 merchants and new brands partnering up, Koko proudly boasts some of the highest usage levels as one of the pioneering payment platforms of its kind in Sri Lanka. Koko has a gamut of industries on board ranging from electronics, fashion, fitness, lifestyle and much more.

Customers can easily shop from their preferred brands simply by choosing to pay with Koko at online checkout or via Facebook or Instagram messaging. Koko can also be easily utilised for in store purchases at partner outlets as well, which only requires the customers to scan the QR code. The first instalment gets deducted at the time of purchase and the remaining can be paid over two months.

Customers are able to view their purchase history and ongoing dues on the purchases section of the app. In any instance where you are unable to pay on time, rescheduling and late payment fees can be arranged via the app.

Truly revolutionising the overall shopping experience in Sri Lanka, Koko’s journey has only just begun. With Christmas being just around the corner, consumers should look forward to Koko’s Christmas Bash. With great discounts and up to 30% off on selected items, an array of exciting offers awaits you this season. Get your holiday spirit on and experience the art of giving while spending at your convenience. Unlock endless possibilities when you ‘buy now and pay later’ with Koko.