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PayLater's Terms & Conditions

Terms for Provision of Loan Facility

Please review this Terms for Provision of Loan Facility and Privacy Policy of Findaya (“Terms of Use”) carefully before using the PayLater services by submitting your first Transactions. 

 

1. GENERAL OVERVIEW

1.1. “PayLater” is a feature in the Application which is the provision of information technology-based loan facilities provided by the Lender(s), to You (“Loan Facility”), through Findaya as the P2P Lending Operator.

1.2. The loan funds channeled to You are entirely derived from and owned by the Lender(s) registered in Findaya. Findaya only passes on the loan funds to You. Therefore, the legal relationship arising with regards to the Loan Facility is between You and the Lender(s), and  thus all risk associated with the Loan Facility shall be borne by You and the Lender(s).

1.3. The first Transaction that you make using PayLater will be deemed as Your application to obtain the Loan Facility and any Transaction you make using the PayLater (including the first Transaction) will be deemed as a request to disburse the Loan Facility, and if the request is approved based on Findaya’s evaluation, the Transaction Value of such Transaction will be deemed as your loan amount from the Lender(s) (“Loan”).

1.4. You acknowledge that Findaya (for and on behalf of the Lender(s)) reserves the right to evaluate and determine (approve or reject) the granting of Loan Facility and Loan disbursement for each Transaction conducted by You.

1.5. This Terms of Use will also apply as the loan agreement between You and the Lender(s).

 

2. PROVISION RELATED TO THE LOAN AGREEMENT

The Provisions stipulated in this Section two (2) shall apply to the Loan Facility, in which Findaya acts for and on behalf of the Lender(s), and You act as the borrower.

2.1. The Main Provision of the Loan

2.1.1. The details of the Loan Facility are as follows (“Loan Details”):

Credit Limit for each Facility Availability Period: in accordance with the Credit Limit given to You as mentioned in the Application.
Service Fee for one (1) Facility Availability Period: in accordance with the Service Fee mentioned in the Application
Interest Rate: 0%
Installment Value: Bullet payment; No installment is applicable
Facility Availability Period: One (1) calendar month
Billing Due Date: Last day of each calendar month
Late Payment Penalty: in accordance with the Late Payment Penalty given to You on each Facility Availability Period as informed to You.
Grace Period: based on Findaya’s sole discretion (on behalf of the Lender) as stated in the Application.

2.1.2. The Loan Details, as mentioned above, and this Terms of Use, from time to time can be amended by providing prior notification to You by a notification through the Application, Your electronic mail and/or phone number registered in the Application. You are deemed to have agreed to the changes made when You submit Your First Transaction in the relevant Facility Availability Period in which such changes start to be applicable.

2.1.3. The Loan Facility will automatically be renewed for the next one (1) Facility Availability Period and so on unless otherwise terminated by Findaya.

 

2.2. Fee and Repayment

2.2.1. You will be charged with Service Fee for the Loans received by You in every Facility Availability Period.

2.2.2. The Service Fee imposed in each Facility Availability Period is fixed and is not affected by the Loan amount received by You with subject to Clause 2.2.3 and Clause 2.1.2.

2.2.3. Findaya, in accordance with its own policy, may provide You with more than one Credit Limit option with different Service Fee for each Credit Limit option as mentioned in the Application. If You change Your Credit Limit based on the Credit Limit option that available is in the Application, in accordance with the applicable requirement, You agree to change your Service Fee in accordance with the Service Fee applied to the Credit Limit you choose.

2.2.4. All Loans received by You during a Facility Availability Period and the Service Fee will be billed to You (“Bill”) and shall be paid on the Billing Due Date, irrespective of the date of the Transaction.

2.2.5. You may be may have imposed a Late Payment Penalty if You fail to pay the amount of the Bill that is due. Such Late Payment Penalty will start to be incurred at the end of the Grace Period and will accumulate until the day You pay the full outstanding amount of Your Bill.

2.2.6. The Loan Facility disbursement request is an approval from You to repay the Loan only through GOPAY unless Findaya provides another repayment method. By giving the Confirmation on the First Transaction, You grant the unconditional and irrevocable standing instruction and power of attorney to Findaya, with the power of substitution for Findaya, to grant the standing instruction and power of attorney to PT Dompet Anak Bangsa (“DAB”), to automatically deduct your GOPAY balance as the repayment of your Bill (“GOPAY Deduction”) provided that:

a) DAB can start the GOPAY Deduction on the Billing Due Date for the maximum amount of Your Bill; and
(b) If on the Billing Due Date, your GOPAY balance is insufficient to pay all outstanding amount of Your Bill, the GOPAY Deduction can be conducted in the maximum amount of your GOPAY Balance and will continue on the next days until all outstanding amounts of Your Bill and the Late Payment Penalty are paid in full.

2.2.7. You may conduct an early repayment prior to the Billing Due Date in accordance with the amount of all Loan that You received and Service Fee incurred in the Facility Availability Period without any additional fee (unless otherwise stipulated by Findaya in the future by providing notification to you).

 

2.3. Authority

2.3.1. You understand and agree that the Lender(s) has granted the instruction and power of attorney to Findaya to conduct all matters related to the Loan Facility as follows::

(a) Determine and/or perform the Terms of Use and each of its amendment from time to time for and on behalf of the Lender(s) as the loan agreement between the Lender(s) and You;
(b) Evaluates and determine (approve or reject) Your Loan Facility application and Your Loan disbursement request;
(c) Distribute the Loan disbursement to You based on the result of Findaya’s evaluation;
(d) Conduct debt collection over Your Loan repayment obligation including the Loan, Service Fee, and Late Payment Penalty (if any), to appoint and transfer the authority to a third party appointed by Findaya to undertake such collection and perform every right of the Lender(s) based on this Terms of Use; and
(e) Represent and act for and on behalf of the Lender(s) in seeking settlement in the event of dispute over the fulfillment of rights and obligations of the parties, including filing a lawsuit against You as the borrower with regards to the performance of rights or fulfillment of rights and protection of the Lender(s)’s interest.

 

2.4. Rights and Obligations of The Parties in the Loan Agreement

2.4.1. Rights and Obligations of Lender(s)
Notwithstanding any other rights and obligations stipulated herein, the rights and obligations of Lender(s), which in this case will be performed by Findaya for and on behalf of the Lender, are as follows:


(a) Shall be entitled to receive a full repayment of all Your payment obligations as the borrower that arise from the usage of PayLater services, including but not limited to the repayment of Loan, Service Fee, Late Payment Penalty, and any other fees according to this Terms of Use;
(b) Shall be entitled to conduct the collection of your repayment obligation including to appoint any other third party to do such collection;
(c) Shall be obligated to provide the Loan Facility and disburse the Loan to You in accordance with this Terms of Use; and
(d) Shall be obligated to perform the terms stipulated in this Terms of Use in connection with the Loan Facility.

2.4.2. Your Rights and Obligations
Notwithstanding any other rights and obligations stipulated herein, Your rights and obligations as the borrower are as follows:


(a) Shall be entitled to receive the Loan Facility and Loan disbursement in accordance with the terms herein;
(b) Shall be entitled to conduct early repayment in accordance with the terms herein;
(c) Shall be obligated to repay all of Your payment obligations as the borrower that arise from the usage of PayLater services in full, including but not limited to the Loan amount, Service Fee, Late Payment Penalty (if any) and other fees based on this Terms of Use.

3. PROVISION REGARDING THE USAGE OF PAYLATER SERVICE

3.1 Service Activation

3.1.1. To activate the PayLater service, You have to choose PayLater as the payment method on your Transaction confirmation page in Application and/or activate the PayLater feature on PayLater page in Application. You shall read and agree to the terms and condition of the service (“Confirmation on the First Transaction”).

3.1.2. The Confirmation on First Transaction will be deemed as your application to obtain the Loan Facility in the amount of the determined Credit Limit and also as your request for Loan disbursement in the amount of Transaction Value.

3.1.3. By giving the Confirmation on the First Transaction, you have given your consent to Findaya to obtain use, and disclose Your Information in accordance with the Privacy Policy of Findaya including but not limited to contact You through various online messages services (including Whatsapp).

3.1.4. If necessary, Findaya, from time to time, may ask You to provide or upload additional documents or information including in electronic form, to Findaya.

3.1.5. The approval of Your Loan Facility application and Loan disbursement request will be marked by the first successfully completed payment process of your Transaction.

 

3.2 Use of Service

3.2.1. The Loan Facility that you obtained can only be disbursed as a Loan by doing a Transaction through the Application.

3.2.2. The confirmation of Transaction order in the Transaction confirmation page by You shall also apply as Loan disbursement request and instruction for Findaya to disburse your Loan in the amount of the Transaction Value to GOJEK Party and/or the Product Provider (as relevant) as the payment of the Transaction (if Your disbursement request is approved by Findaya).

3.3 Transaction through the Application

3.3.1. Subject to Clause 1.4 of this Terms of Use, You may conduct a Transaction using PayLater provided that:


(a) You have an active and verified GOJEK and GOPAY account;
(b) You still have remaining Credit Limit with minimum amount of the Transaction Value;
(c) There is no outstanding amount from the previous Facility Availability Period; and
(d) No occurrence of Event of Default.

3.3.2. You hereby acknowledge and agree that the processing and settlement of your Transaction are also subject to the terms and conditions of the Application and relevant product.

3.3.3. The Loan amount that arises from a Transaction will be the same as the Transaction Value. 

3.3.4. You hereby acknowledge and agree that all legal relationship arises with regard to the product from your Transaction is between You and the relevant Product Provider. Therefore, the responsibility over the quality of the product should rest with the relevant Product Provider.

3.3.5. Your successful Transaction as confirmed in the Application, done using PayLater, will deduct your remaining Credit Limit and constitutes a Loan. Any complaint or issue regarding goods and/or services, including any product, that You receive will not cancel the Loan. You may submit your complaint over goods and/or services that You receive to the relevant party.

3.3.6 If, based on the confirmation from Product Provider and Application, we are informed that a Loan exists without successful transaction (“Invalid Loan”) then the following conditions will apply to the Invalid Loan:

a) For the unpaid Invalid Loan, Findaya can reduce Your Bill and refund Your Credit Limit after Findaya receives the refund of disbursed loan from the Product Provider in the maximum amount of Invalid Loan
b) For the paid Invalid Loan, then the Product Provider will refund the Invalid Loan amount to You through Findaya or Application with the method determined by Findaya or together with the Product Provider and Application in accordance with the policy of Findaya and Application.
c) The existence of Invalid Loan will not reduce or cancel other Loan, Service Fee, and Late Fee in a Facility Availability Period unless otherwise decided by Findaya or together with the Lender(s) by providing information to You in accordance with the policy of Findaya and Lender(s)

 

3.4. Privacy Policy

By agreeing to this Terms of Use, You represent that You have read and agreed to Findaya’s Privacy Policy. Therefore, You shall read the Privacy Policy of Findaya carefully. 

3.5. Rights and Obligations of the Parties in the Terms of Use of PayLater Service

3.5.1. Rights and Obligations of Findaya
Notwithstanding any other rights and obligations stipulated herein, the rights and obligations of Findaya as the P2P Lending Operator are as follows:


(a) Shall be entitled to receive,  use, and disclose Your Information that has been submitted to or shared with Findaya in accordance with the Findaya’s privacy policy; and 
(b) Shall be obligated to perform the terms stipulated in this Terms of Use in connection with the provision of Loan Facility. 

3.5.2. Your Rights and Obligations
Notwithstanding any other rights and obligations stipulated herein, Your rights and obligations are as follows:


(a) Shall be entitled to receive the Loan Facility and Loan disbursement in accordance with the terms herein; 
(b) Shall inform Findaya of any change of Your Information;
(c) Shall not conduct any action that is and/or might cause losses to Findaya and/or Lender(s), including abusive and/or fraudulent behavior or behavior identified by Findaya’s system as a suspicious pattern of financial transactions
(d) Shall comply with all applicable policy of usage and privacy policy of the product and/or services in the Application. 

 

4. OTHER PROVISIONS

4.1. Your Representations and Warranties 

You, as long as You use the PayLater services, represent and warrant that:

a. You are an Indonesian citizen and legally subject to the laws of the Republic of Indonesia, an individual legally entitled to enter into a binding agreement under the laws of the Republic of Indonesia, which means that You are at least 21 years old or have been married and not under any guardianship. Otherwise, Findaya, will be entitled by law to cancel Your Loan Facility and conduct any action as stipulated in Clause 4.4.2;

b. All facts, data, information, documents and explanation provided by you to obtain the Loan Facility are true, accurate and complete; and 

c. You have read and understand this Terms of Use and this Terms of Use is a legally binding and enforceable obligation to You.


4.2. Your Account Information

4.2.1. Your account, including your GOJEK, GOPAY and Findaya accounts (“Account”) are within Your responsibility. You undertake not to authorize others to use your identity or Account. You shall not assign or otherwise transfer your Account to any other parties. You must protect the secureness and confidentiality of your Account password and any identification that Findaya and/or GOJEK Party provides to You including in the form of one time password (OTP). If there is any illegal and/or unauthorized use of your Account or identity by any third party, in any case, orders generated from such use by third party including any Loan Facility application and Loan disbursement request, will still be deemed as valid orders, unless You have notified us to block the PayLater services for your Account before such instruction is made.

4.2.2. If Your Account or mobile phone is missing, stolen, or hacked, You undertake to immediately inform Findaya in accordance with this Terms of Use.

4.2.3. If You have any question, request, complaint or need to provide any information in relation to PayLater service, You shall send it via an electronic mail to the address stated in the Application.

4.2.4. To respond to Your questions and complaints, Findaya will first verify Your Information. Findaya shall be entitled to refuse to further process your question or complaint if Your information does not match the Information recorded in Findaya’s system.

4.2.5. Findaya will review and verify Your complaint and provide a response in accordance with Findaya’s applicable policy and procedure upon receiving the complete complaint submission from You.

 

4.3. Taxes and Fees

The Parties agree that any obligation with regard to taxes and/or other levies incurred based on this Terms of Use will be borne by each Party in accordance with the prevailing tax regulation in Indonesia unless otherwise expressly stipulated herein.

 

4.4. Event of Default

4.4.1. An event of default arises when one or more of the following events occur:

a. You, for whatever reason, fail to perform your repayment obligation and/or breach any other provisions of this Terms of Use; 

b. in Findaya’s discretion, there occur events that are and/or might cause losses to Findaya and/or Lender (s), including abusive and/or fraudulent behavior and/or pattern or behavior identified by Findaya’s system as a suspicious pattern of financial transactions;

c. The use of Your Account and/or PayLater service in a way contravening with the terms of use of the Application, other terms and conditions applicable for other features or services provided in the Application, GOJEK Party’s privacy policy and/or any prevailing laws and regulation;

d. The representations and/or warranties given by You are untrue or become untrue; and/or

e. You, for whatever reason, fail to perform your repayment obligation and/or breach any terms of use or agreement of other loan provided to You.

(either one or more, “Event of Default”)

 

4.4.2. For any Event of Default specified above, Findaya shall be entitled to:
(a) stop providing PayLater service and unilaterally terminate this Terms of Use;

(b) declare that a part or all of your outstanding amount is due and shall be payable by You immediately; and/or

(c) conduct any other action in order to obtain the repayment of all Your outstanding payment obligation and defend and enforce Findaya’s and Lender(s)’s rights under this Terms of Use.

 

4.4.3. If Your PayLater service is terminated and You have strong evidence that there is no occurrence of Event of Default, You may file Your complaint in accordance with this Terms of Use. After verifying Your complaint, Findaya will determine whether to terminate or to continue the service termination.

4.4.4. The Parties hereby agree to waive the applicability of Articles 1266 and 1267 of the Indonesian Civil Code to the extent that such provisions require an Indonesian court’s approval or decision to terminate this Agreement.

 

4.5. Governing Law and Dispute Settlement

This Terms of Use and its performance are governed and interpreted by the law of the Republic of Indonesia. All disputes arising from the usage of PayLater feature and this Terms of Use subject to the exclusive jurisdiction of South Jakarta District Court.

 

4.6. Definitions

In this Terms of Use, unless the context otherwise required, these following terms will have the following meaning:

Application” means the mobile phone application that is provided and/or operated by PT Aplikasi Karya Anak Bangsa and/or its affiliates.
You” means the user of the Application who uses the PayLater service in accordance with Your Information. 
Findaya” means PT Mapan Global Reksa which, in this Terms of Use, acts in its capacity as i) the P2P Lending Operator ii) or the authorized attorney of the Lender(s) (as relevant).
Transaction” means each transaction in any form with the Product Provider whose payment (either in partial or full) can be done through the Application using PayLater.
Transaction Value” means the amount of a successful Transaction paid using PayLater.
PayLater” has the meaning given to it in Clause 1.1.
Information” means both current and future data, information, and statement regarding Yourself (including any update and changes of it) which is given to GOJEK Party and/or Findaya by You and any information that can be identified and collected through the Application,  the use of PayLater, and the use of any service or product provided or facilitated by any GOJEK Party.
"Product Provider" means any party who provides goods and/or services which its payment can be processed through the Application.
GOJEK Party” means PT Aplikasi Karya Anak Bangsa and its affiliates.
GOPAY” means the electronic money services issued and operated by PT Dompet Anak Bangsa.
The Parties” means the Lender(s) (which in this case all of its rights and obligations are performed by Findaya for and on behalf of the Lender(s)), You, and Findaya in its capacity as the P2P Lending Operator.
"Lender" means party who provides the loan proceeds to You through Findaya as the P2P Lending Operator.
"P2P Lending Operator" means Findaya as the operator of information technology-based lending which is registered under Indonesian Financial Services Authority (Otoritas Jasa Keuangan).
Calendar Day” means the Monday through Sunday, including national holidays and mass leaves.
"Business Day" means a day, other than Saturdays, Sundays and official national holidays, where banks are open to conduct business activities in accordance with the provisions of Bank Indonesia.

 

4.7. Miscellaneous 

4.7.1. Findaya shall be entitled to terminate the service any time if there is a Force Majeure event. Force Majeure shall include but not limited to natural disasters, fires, strikes, demonstration, and request from government authority to terminate the service as well as any other events that are beyond Findaya’s control. For the avoidance of doubt and to the extent it is permissible under the prevailing law, the Force Majeure event shall not waive Your payment obligation based on this Terms of Use.

4.7.2. You shall not transfer, all or part of Your rights and obligations that arises in relation to the Loan and PayLater services based on this Terms of Use to any other party.

4.7.3. Should one or more of the provisions in this Terms of Use become no longer applicable, invalid or unenforceable in any way according to prevailing laws, such event will not affect the validity, applicability and enforceability of other provisions in this Terms of Use.

4.7.4. The Parties hereby represent that no government institution of the Republic of Indonesia, including but not limited to OJK, is responsible for any credit risks and/or failure to pay and all losses in connection with the Loan Facility. 

4.7.5. All information stipulated in Findaya’s feature page in the Application, including but not limited to the information on Transaction history, the Loan amount, the Service Fee, Late Payment Penalty, Grace Period and Your profile as borrower or user, shall constitute an integral part to this Terms of Use.

4.7.6. This Terms of Use is prepared and agreed in Indonesian and English versions. In case of any inconsistency between the Indonesian and English version, the Indonesian version shall prevail, and the English version shall be deemed to be automatically amended to conform with and be consistent with the Indonesian version.

The Parties agree that this Terms of Use has been duly executed by way of electronic approval in accordance with Law of the Republic of Indonesia No. 11 of 2008 concerning Electronic Information and Transactions, including its amendments from time to time. If it is further required by law or policy of the relevant authority, the Parties agree to use the required electronic signature method and all costs arising therefrom will be borne by the Lender(s).