Key Findings:

Kredivo’s Customer Satisfaction Survey

Final Report
6 May 2019

© IDC
Introduction

Kredivo is a digital credit card in the form of an application on a smartphone that gives the
convenience to buy now and pay later in 30 days without interest or over 3, 6 and 12
months with installments at lowinterest.

As a retail credit platform, Kredivo wants to stay competitive in the market. By working
with IDC, Kredivo wants to know what consumers feel about their services in order to
improve their service, according to what consumers need.

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Methodology and Participant

5 minutes online survey conducted by Kredivo using IDC’s questionnaire and

processed by IDC Indonesia

The survey consisted of 1110 respondents (all of respondents are randomly chosen
Kredivo’s customers) and the data was validate directly from the source (SurveyMonkey
dashboard)

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Respondents Profiles

Age
Gender
Above 30 514 (46%)
Female 386 (35%)
25 - 30 396 (36%)
Male 724 (65%)
18 - 24 200 (18%)
0 100 200 300 400 500 600 700 800 0 100 200 300 400 500 600

Transaction
More than 10 times 714 (64%)

8 - 10 times 124 (11%)

5 - 7 times 95 (9%)

2 - 4 times 102 (9%)

1 times 75 (7%)

0 100 200 300 400 500 600 700 800

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Key Questions

Product preference
- Among all the payment methods you have used, which payment method is most preferred? Select three (3) top options and sort
them according to preferences.
- What are your main reasons for choosing the payment method above?
- What do you like most about Kredivo? Choose three (3) main reasons and sort them according to preferences.

Brand awareness
- Where did you first hear Kredivo?
- Have you ever tried to use services from Kredivo competitors (Akulaku, Tunaikita, etc.)? In your opinion, how is Kredivo service
ranking compared to their service?
- Do you know that Kredivo's service interest is lower than competitors (Akulaku, Tunaikita, etc.)?

Satisfaction and Loyalty

- How satisfied are you with the Kredivo service?
- I intend to keep to use Kredivo as a payment method / loan provider in the future.
- How big is your intention to recommend Kredivo to friends / relatives?
- What developments do you expect from the next Kredivo? You may choose more than one (1) answer.

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Key Finding
By Aggregate Overall, based on survey findings, we
found Kredivo customers to:
1. Have a very high preference for
Kredivo over other payment
methods
2. Have a very high preference against
its competitors and high awareness
of its strengths/ benefits
3. Have a very high degree of overall
satisfaction

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Payment Preference

Kredivo leads with the highest top of mind or first payment preference
for its consumers, followed by bank transfer and credit card.

Kredivo is the the top 1 selection by majority of Kredivo users (79%), followed by Bank Transfer (8%) and Credit Card (6%). Bank Transfer and Credit
Card were highly determined as second and third preference for most Kredivo users when it comes to e-Commerce transaction. While Indonesia remains
dominant in cash transaction, the growing e-Commerce and social media society has slowly shifted how consumers purchase and pay the goods/services – and
this is going to be a good opportunity for Kredivo to extend its presence and availability as well as expand its services to the consumers. For these users, easy
and practical to use (74%) is ultimately considered as major reason on choosing such payment preference, followed by the low interest availability
(24%). User experience becomes key component to attract customers and drive more transaction on the payment methodology.

Payment Preference What are the key considerations of using

90% preferred payment?
79%
80%
74%
70% Easy &
Practical 1%
60%
to use Higher
50% limit
40%
30% 1%
20% Easy to
12% 24%
register
10% 4% Low
interest
0%
Top 1 Top 2 Top 3
Kredivo Transfer Bank Credit Card CoD e-Wallet Debit Online

Source: Kredivo, IDC Survey 2019

Question: 1. Among all the payment methods you have used, which payment method is most preferred? Select three (3) top
options and sort them according to preferences. (MR) © IDC 7
Payment Preference

The most frequent users (>8 transactions) and 18-24 year old users are
determined to select Kredivo in the first preference of payment method.

Top 1 Selection by Gender Top 1 Selection by Age Top 1 Selection by Age

100.00% 100.00% 100.00%

90.00% 90.00% 85.93% 90.00% 84.68%

81.92%
79.61% 78.80% 78.43% 77.45%
80.00% 80.00% 80.00% 76.84%

68.32%
70.00% 70.00% 70.00% 64.00%

60.00% 60.00% 60.00%

50.00% 50.00% 50.00%

40.00% 40.00% 40.00%

30.00% 30.00%
30.00%
20.00% 20.00%
20.00%
10.00% 10.00%
10.00%
0.00% 0.00%
0.00% 1x 2-4x 5-7x 8-10x >10x
Male Female 18-24 Year Old 25-30 Year Old >30 Year Old

Kredivo (n=721) Credit Card (n=597) Bank Transfer (n=680) Kredivo (n=721) Credit Card (n=597) Bank Transfer (n=680)
Kredivo (n=721) Credit Card (n=597) Bank Transfer (n=680)
CoD (n=632) Debit Online (n= 608) e-Wallet (n= 613)
CoD (n=632) Debit Online (n= 608) e-Wallet (n= 613) CoD (n=632) Debit Online (n= 608) e-Wallet (n= 613)

Source: Kredivo, IDC Survey 2019

Question: 1. Among all the payment methods you have used, which payment method is most preferred? Select three (3) top
options and sort them according to preferences. (MR) © IDC 8
Payment Preference

Kredivo’s presence and partnership with large e-Commerce sites in Indonesia

has favored consumers’ preference in the market

For Kredivo’s users, its availability in most Indonesia’s e-Commerce platform (52%) makes Kredivo attractive to its customers,
followed by the practicality (26%), and low interest (14%) given by Kredivo. Security may not be the key reason of why consumers
pick Kredivo in the first place. However, IDC believes Kredivo’s users or Indonesian consumers may not have major concern on security
as long as the service providers good benefit for the users. Security still needs to be the core topic for Kredivo educate its users to
provide stickiness and loyalty – as security is determined as one of the most sensitive yet less understood by majority of Indonesian
consumers.

Why Kredivo
52%
40%
33%
26% 26% 25%
20% 20% 21%
14% 17%
10% 13%
7% 9%

Top 1 Top 2 Top 3

Available at all the largest e-Commerce merchants in Indonesia Practical payment (only need 2 clicks)

Cash loans available Low interest

Safety guaranteed

Source: Kredivo, IDC Survey 2019

Question: 3. What do you like most about Kredivo? Choose three (3) main reasons and sort them according to preferences. (MR) © IDC 9
Perception

Kredivo is considered as better platforms for its consumers, compared

to some of its competitors like Tunaikita, Akulaku in the market.

75.68% There are 76% of the users agree that Kredivo is better than other P2P lending
platforms in the country; 17% of the users perceive that the service between
Kredivo and other platforms is the same and 8% of users favor the other
platforms. Availability, practicality (ease of use) and low interest of Kredivo as
online credit card platform are determined as major considerations of how
Kredivo is leading in the market. In overall, majority of the Kredivo’s users are
aware of key features that are provided by the company when they are using the
platform.

Do you know that Kredivo’s interest is lower than other competitors?

Yes No
16.58% 7%
93%
7.75%

Kredivo vs Others

Worse Same Better

Source: Kredivo, IDC Survey 2019

Question: 5. Have you ever tried to use services from Kredivo competitors (Akulaku, Tunaikita, etc.)? In your opinion, how is
Kredivo service ranking compared to their service? (SR)

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Satisfaction, Loyalty & Advocacy

Almost all Kredivo’s consumers are satisfied and will keep using and
recommending Kredivo as preferred payment method in the market.

Overall Satisfaction Intent to Reuse Intent to Recommend

Satisfaction Loyalty Advocacy

79.73% 54.68%
99.01%
43.42%

20.00%

0.30% 0.99% 1.89%

Strongly recommend Will recommend Will not recommend

Very Satisfied Satisfied Not Satisfied Yes No

Majority of the Kredivo’s users are satisfied with Majority of the users have intention to keep Majority of the users are most likely to recommend
its services, determined by 99% of the users. using Kredivo’s platform in the future, Kredivo’s brand to their relatives, determined strong
determined strong base of loyal customers of level of advocacy in the market.
the brand/company.
Source: Kredivo, IDC Survey 2019
Question:
7. How satisfied are you with the Kredivo service? (SR)
8. I intend to keep to use Kredivo as a payment method / loan provider in the future. (SR)
9. How big is your intention to recommend Kredivo to friends / relatives? (SR) © IDC 13
Thank you

For further inquiry and more information, please reach out to these analysts:

Mevira Munindra, Advisor, Analyst

Head of Operation – IDC Indonesia
mmunindra@idc.com

Gina Idonea, Project Manager, Analyst

gidonea@idc.com

Kamil Yunus, Analyst

Consultant – IDCIndonesia
kyunus@idc.com

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