Kul Bhushan · · 1 min readAlibaba-owned firm to launch BNPL platform in Pakistan, Bangladesh
Correction (April 28, 2022 – 9:53pm SGT): This article earlier incorrectly stated that Alibaba is going to launch BNPL platform in Pakistan and Bangladesh. Headline and article have been updated.
Alibaba’s Daraz will roll out Koko, a South Asia-focused buy now, pay later platform, in Pakistan in July and Bangladesh in December, according to a statement. It will also be available in Nepal by March 2023.
Photo credit: Koko
Incubated by the Alibaba-owned online marketplace and retailer, Koko aims to address the increasing demand for easy credit solutions in the region amid low credit card adoption. The platform allows customers to convert a payment into three interest-free installments.
Daraz said that 0.6% of the Sri Lankan adult population adopted Koko as a payment solution in the first six months of its rollout in August 2021.
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The platform hit US$1 million in total payment volume in March this year. To date, more than 1,000 merchants have added support for Koko. The platform’s average order value is US$35, while its total number of registered users stands at 90,000.
Editing by Deepti Sri and Arpit Nayak
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