Kredivo Introduces “Infinite Card,” Expanding Transaction Access

Kredivo, the Infinite Card is a virtual card that can pay for all online and e-commerce purchases by entering just a few details. Launched in collaboration Mastercard, a global pioneer of payment innovation and technology and Bank Negara Indonesia (Persero) (BNI), one of the largest banks in Indonesia, this breakthrough feature allows Kredivo’s customers to transact using Kredivo’s credit limit across all of Mastercard’s online merchant network. Kredivo has become an open-loop payments product. This allows Kredivo customers to transact with millions of Mastercard-enabled online retailers.

Kredivo Indonesia CEO Umang Rustagi stated, “Kredivo is committed to providing retail credit products that are fast, affordable, and widely accessible. Kredivo will offer unlimited online access for almost 5 million Indonesians. This innovation dramatically reduces the accessibility gap between traditional credit card holders and Kredivo customers.”

Navin Jain, Country Manager of Mastercard Indonesia, said. “Mastercard is proud to collaborate with Kredivo and BNI to bring the benefit of Mastercard’s acceptance network in Indonesia and globally to millions of consumers. Kredivo is a pioneer in bringing financial access to new-to-credit consumers in Indonesia, and with Mastercard’s innovative value-added services, their consumers will now be able to use their purchasing power across online platforms accepting Mastercard payment cards. These solutions will bring consumers more choice and encourage them to use digital payment methods, an important goal of OJK (Indonesia’s Financial Services Authority) and the Central Bank.”

Kredivo accounts can be linked to the Infinite Card. Transaction amounts will be taken from the Kredivo credit limit. This limit can reach IDR 30,000,000 (US$2,500). Infinite Card transactions carry the same interest rates that Kredivo offers: 0% for 30-days and 3-month payments, and 2.6% for 6-month and 12-months installments. The Infinite Card is compatible with all digital platforms that allow credit card payments. Kredivo will slowly roll out Infinite Card among its user base over the next few month.

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