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Sharing Economy

In fintech race, Go-Jek app extends consumer credit to offline stores

PayLater marks 'beginning' of more financial services for Indonesia's unbanked

A customer uses a smartphone to scan code while paying for food using Go-Pay in Jakarta.   © Reuters

JAKARTA -- Go-Pay, the digital payment arm of Indonesian ride-hailer Go-Jek, will extend a mobile credit service to brick-and-mortar stores starting next month, laying the foundation for a broader financial business targeting its millions of users.

The expansion of PayLater, which lets users pay for transactions on the Go-Jek platform at the end of the month, is yet another development in the ride-hailer's battle with Singapore-based rival Grab and Ovo, its payment partner in Indonesia.

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