KOKO App Review: Unlocking the World of Buy Now, Pay Later in Sri Lanka

The world of finance and online shopping has witnessed a transformative trend with the emergence of Buy Now, Pay Later services. Among these, KOKO, an online shopping app based in Sri Lanka, stands out as an innovative player in the market. In this review, CashLoan LK will explore the multifaceted aspects of KOKO, from its inception and functionalities to the benefits it offers to shoppers.

KOKO facilitates a unique shopping experience, allowing consumers to purchase their favorite products immediately and defer payment until a later date. Whether you prefer online shopping or the in-store experience, KOKO has you covered. One of the most appealing features of KOKO is the flexibility it provides, offering three interest-free installments that can be spread over a convenient 60-day period. In this age of economic unpredictability, KOKO offers a reprieve for those looking to enjoy a luxurious shopping experience without immediate financial constraints.

KOKO Loan: How Does It Work?

At its core, KOKO operates on the ‘Buy Now, Pay Later’ model. This means that, similar to other ‘Buy Now, Pay Later’ applications, KOKO enables users to shop for their desired products and pay for them later in three interest-free installments. The process is straightforward and user-friendly. Here’s a step-by-step guide on how it works:

  • Download the KOKO app and complete the registration process.
  • Upon successful registration and verification, you can begin your shopping journey.
  • Add your desired items to your cart and proceed to the checkout.
  • Select ‘KOKO’ as your preferred payment method.
  • Pay the first installment today, and the remaining amount is divided into two more installments, which are due over the course of the next 60 days.

Understanding ‘Buy Now, Pay Later’

The ‘Buy Now, Pay Later’ concept, epitomized by KOKO, allows consumers to acquire a line of credit or loan based on their profile. This credit can then be conveniently repaid in three equal installments over a span of 60 days. This model offers financial flexibility and convenience, ensuring that users can access their desired products without immediate financial constraints.

Determining Your KOKO Loan Amount

The amount of credit extended to your KOKO account is determined through a meticulous evaluation process conducted by KOKO itself. Various factors come into play when determining your credit limit, including the time of day, the frequency of your purchases, the total value of your purchases, and your history with KOKO. Once you complete the registration process and pass the necessary verification steps, you can find information about your credit limit within the KOKO app. It’s important to note that the more orders you place and the longer you remain a loyal KOKO customer, the higher the likelihood of an increased credit limit.

Interest Rates and Payment Flexibility

One of the most attractive aspects of KOKO is its offering of a 100% interest-free shopping experience. This means that you can shop for your favorite products and spread the payments over three months without incurring any interest charges. However, it’s crucial to adhere to the payment schedule, as late payments may result in interest charges. In the event that you miss a payment, KOKO has mechanisms in place to temporarily pause your account until you are back on track.

Is KOKO a Legitimate Option?

One common concern when exploring new financial services is legitimacy. Rest assured, KOKO is a bona fide ‘Buy Now, Pay Later’ app that was incubated under Daraz and established its presence in Sri Lanka in 2020. This association with Daraz, a renowned e-commerce platform, adds a layer of credibility to the KOKO app. You can rely on KOKO to provide a secure and dependable shopping experience without any apprehensions.

How to Apply for a KOKO Loan

Applying for a KOKO Loan is a hassle-free process, whether you intend to use it for online or in-store purchases. Below, we outline the steps to follow to access this convenient financial service:

For Online Purchases:

  • Download the KOKO App from your preferred app store.
  • Browse and select your favorite products.
  • During the checkout process, choose ‘KOKO’ as your payment method.
  • Make your initial KOKO payment immediately, with the remaining balance divided into two installments to be paid over the next 60 days.

For In-Store Purchases:

  • Shop for your desired products at participating stores.
  • Utilize the KOKO app to scan the provided in-store QR code.
  • Initiate your first KOKO payment immediately, with the remaining amount divided into two installments to be paid over the next 60 days.

Requirements for a KOKO Loan

While KOKO strives to make its services accessible, there are certain requirements that must be met to qualify for a KOKO Loan. To be eligible, you should:

  • Be at least 18 years old.
  • Possess a valid phone number.
  • Hold a bank payment card issued by a Sri Lankan bank, which can include Visa, Mastercard, debit, or credit cards.
  • Be a resident in Sri Lanka.

Making KOKO Installments

KOKO makes it easy to manage your repayments. You can conveniently pay your KOKO interest-free installments over a span of 60 days using the bank cards linked to the app. This ensures a seamless and hassle-free repayment experience.

What Happens if You Miss a Payment?

KOKO places a strong emphasis on responsible lending and seeks to assist users in staying on track with their payments. To ensure timely repayments, KOKO sends reminders through the app. However, if a payment is missed or cannot be settled by the due date, KOKO may temporarily pause your account. KOKO does offer a solution for this situation by providing customers with two free schedule extensions per year to extend the payback time. For any additional extensions beyond this limit, a fee of Rs. 500 is charged in addition to the repayment amount. The maximum extension period for the due date is two weeks.

Increasing Your Credit Limit with KOKO

KOKO rewards loyal and responsible shoppers. If you frequently make purchases or your order values are relatively high, and most importantly, if you consistently repay your loans on time, you have a good chance of increasing your credit limit with KOKO. This can provide you with even more flexibility and financial freedom for your future shopping endeavors.

Benefits of Choosing KOKO

KOKO offers a myriad of advantages to its users, both online and in-store. Some of these benefits include:

  • Access to interest-free installments, allowing you to enjoy your purchases without the burden of immediate payments.
  • The convenience of ‘Buy Now, Pay Later,’ providing financial flexibility.
  • A streamlined signup process that gets you shopping quickly.
  • Exclusive deals and offers, ensuring that you get the best value for your money.
  • No fees for on-time payments, rewarding responsible financial behavior.
  • Regular payment reminders to help you stay on track.
  • The freedom to enjoy shopping both online and in physical stores, offering a versatile shopping experience.

Exploring the KOKO App

The KOKO app has been designed with user convenience in mind. It comes equipped with a range of features aimed at enhancing your shopping experience. Whether you’re an Android or iOS user, you can easily download the KOKO app from the Google Play Store or the App Store, respectively. Once installed, you’ll gain access to a world of convenient shopping and financial flexibility at your fingertips.

Accessing KOKO Customer Service

Customer support and assistance are pivotal in any financial service. KOKO ensures that users can easily reach out for help and guidance. You can contact KOKO through their dedicated email address at support@paykoko.com. Additionally, there is a KOKO contact number, 0117657157, available from 9 am to 5 pm on weekdays. This accessibility ensures that users can seek assistance whenever they need it.

Reviewing KOKO: A Balanced Perspective

No review is complete without a balanced perspective. While KOKO App has garnered mixed reviews, it’s essential to delve deeper into the nature of these reviews. Many concerns and criticisms appear to revolve around the performance of the app. However, it’s crucial to highlight that these concerns are predominantly related to the app’s functionality. Interestingly, there is a contrasting viewpoint as well, with users reporting positive experiences with the app’s performance. It’s important to recognize that the primary focus of these reviews centers on the app’s functionality and not on any significant, deal-breaking issues. As with any app, periodic updates and refinements can address these performance-related concerns over time.


KOKO presents an enticing ‘Buy Now, Pay Later’ solution for shoppers in Sri Lanka. Its unique offerings, combined with financial flexibility and user-friendly features, make it a compelling choice. To make an informed decision about whether KOKO aligns with your shopping preferences and financial needs, consider your shopping habits, repayment capabilities, and your experience with the app’s performance. As with any financial service, it’s essential to evaluate it against your specific requirements to determine if it’s the right fit for you.

5/5 - (6 votes)

ශ්‍රී ලංකාවේ අඩු පොලී අනුපාතයක් සහිත හොඳම ඔන්ලයින් ණය


Loan type

Short term

For a period of

30 days

Rate ()

1.00% / day

Loan amount

40000 €

Approval in

5 minutes

First loan free


Loan type

Short term

For a period of

122 days

Rate (ARP)

12.00% / year

Loan amount

40000 $

Approval in

15 minutes

First loan free


Loan type

Short term

For a period of

28 days

Rate ()

0.04% / day

Loan amount

60000 $

Approval in

0 minutes

First loan free


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