The mobile-friendly “buy now, pay later” (BNPL) app – backed by Sri Lanka’s largest e-commerce marketplace Daraz – offers easy, interest-free instalments via debit cards with an instant spending limit.
As an entity passionate about evolving the merchant and consumer shopping experience parallel to the changing times, Koko has steadily built trust among over 150,000 users of the app and partnered with over 1,000 merchants across diverse industries, and the expansion into the food and travel sectors come as a much-anticipated move.
New users can download the Koko app and register to immerse themselves in the complete Koko experience.
Kicking off the latest venture, the BNPL platform has partnered with over 40 restaurants and cafes to allow customers to dine now and pay later in three easy, interest-free instalments via a debit card.
Koko customers can enjoy an array of local and international cuisines across the island nation, with options ranging from bakery items, healthy food, and desserts to fast food favourites.
Coming on board are some of the most popular spots such as Arthur’s Pizza, Mr. Burger, Acropol, and Malay Restaurant as well as cafe chains such as Barista.
Trailing along is the travel now-pay later offer that is ready to give Koko customers the opportunity to holiday at a number of leading hotels and resorts in Sri Lanka with the convenience of paying later in three instalments.
Partnering with Koko are some of the most famous and loved names in the local travel and tourism sphere, including 10 properties of Jetwing Hotels, Shinagawa Beach Hotel, Union Resorts and Spas, and more.
Koko users can simply book now, make their travel itineraries ahead of time, and visit some of Sri Lanka’s famous destinations during peak and off-peak times, while leaving the payment for later, making the best use of Koko’s flexible payment option of paying in three interest-free instalments.
The Covid-19 pandemic in 2020 took a toll on people’s financial freedom, resulting in the search for alternative payment methods.
In this backdrop, the BNPL solution grew in popularity unprecedentedly among those seeking a secure, inclusive payment option that can be handled at one’s fingertips.
The entry of the BNPL solution to the global food and travel industries, among a host of other industries, offer customers the opportunity to express and experience life by breaking financial restrictions, making it possible for customers to dine at an otherwise expensive restaurant or vacation at the most popular destinations.
The first fintech payment app to enter into the Sri Lankan market, Koko was launched during the Covid-19 pandemic to offer much-needed financial flexibility and convenience for debit cardholders.
The BNPL app aims to assure customers that transacting without physical cash is possible.
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From left Koko Head of Growth Kasun De Costa, Head of Commercial Growth Naheed Zainudeen, Senior Finance Analyst Dinuki Karunatilake, and Group COO Friso Wesseling experiencing Koko’s new ‘dine now, pay later’ option at one of the partnered restaurants