Jakarta — The Financial Services Authority (OJK) has urged financing companies—or multifinance firms—to maintain portfolio quality amidst growing demand for "buy now, pay later" (BNPL) services.

Agusman, OJK’s Chief Executive for the Supervision of Financing Companies, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions, stated that multifinance companies need to strengthen their assessment of debtors' repayment capacity. Continuous monitoring of portfolio quality is also required.

"Financing companies need to continue strengthening the implementation of risk management and prudential principles, including by reinforcing the assessment of debtors' repayment capacity and continuously monitoring portfolio quality," said Agusman in a statement cited on Tuesday, September 1, 2026.

OJK data indicates that the quality of BNPL financing provided by financing companies improved in June 2026.

This is evidenced by the decline in the gross non-performing financing (NPF) ratio for BNPL to 3.09 percent in June 2026. Previously, the gross BNPL NPF stood at 3.44 percent in May 2026.

Despite the subsequent improvement, the figure for May had previously risen from the April 2026 level of 2.99 percent.

These NPF trends are a point of focus because BNPL services continue to expand and are increasingly being used by the public.

**8 Multifinance Companies Offer BNPL**

Currently, there are eight multifinance companies providing BNPL services.

These eight companies are Kredivo (via PT FinAccel Finance Indonesia), Akulaku (via PT Akulaku Finance Indonesia), and Indodana (via PT Indodana Multi Finance).

Additionally, the list includes Home Credit (via PT Home Credit Indonesia), SPayLater (via PT Commerce Finance), GoPayLater/Gojek PayLater, Traveloka PayLater, and OVO PayLater.