April 20, 2024

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E-commerce giant Coupang is trialing a buy-now, pay-later service.

The new service is applied to products directly bought from and sold by Coupang, which are available for its next-day delivery service, Rocket Delivery, according to one official at the company, allowing users to purchase items on credit until the 15th of the following month.

Up to 300,000 won ($253) in shopping items can be paid for later through the new service.

It is currently being tested with a select few users, while an official launch date has yet to be decided, the official said.

The new feature is available for accounts that are linked to a bank account. If the payment does not go through, customers will be charged via other means of payment.

The move could see the online shopping giant grow its user base, as cash-strapped shoppers without credit cards are given over one month to pay later.

By Yim Hyun-su (hyunsu@heraldcorp.com)