Buy Now Pay Later Platform Split Has Processed RM 10 Million in Transactionsby Fintech News Malaysia January 21, 2021 0 comments
Split, a Malaysian Buy Now Pay Later (BNPL) platform, announced that it has processed RM 10 million in transactions for Malaysian businesses nationwide within months
The platform enables merchants to offer up to 3 interest-free installments to their customers who can use any debit or credit card from any local bank.
In their media statement, they added that over 250 Malaysian brands including Dyson, Switch, Lorna Jane and Gamer’s Hideout benefited from the increased traffic, higher sales conversions, and incremental revenue.
This news comes off the back of South East Asia’s growing interest in the Buy Now Pay Later space, with major players like Grab, Mastercard, Razer, and more.
The Split platform is backed by Silicon Valley-based 500 Startups and global talent investor Entrepreneur First.
“We want to disrupt the traditional credit card model by offering consumers an alternative that is accessible, interest-free and does not charge them penalties for having an outstanding balance. Malaysians will find that our model is very consumer-friendly and that’s entirely by design.
Split isn’t tied to specific banks. With one connection to us, merchants can immediately offer our BNPL instalments to consumers from all local banks. Ultimately, we aim to broaden the reach of our merchants, connecting them to as many shoppers as possible and vice versa,”
said Dylan Tan, Co-Founder of Split.
Featured image credit: Edited from Unsplash