Singaporean Buy Now, Pay Later (BNPL) platform Atome announced that it has partnered with Pine Labs, an India-based merchant commerce platform, to expand its BNPL acceptance in Malaysia.
They said that this offering enables seamless, flexible instalment payment options across over thousands of merchant establishments in Malaysia that are already on the Pine Labs’ network.
Pine Labs said in a statement that it has “pioneered the BNPL category in India where it now has 95% market share of offline BNPL services”.
The company has already onboarded merchants and top banks like CIMB Bank, AmBank, HSBC Bank, AFFIN BANK, and RHB Bank on its platform since its launch in Malaysia in March 2021.
The firm had also recently acquired local payments platform Fave in a deal worth RM185 million in April.
Meanwhile, Atome said that has partnered over 3,000 online and offline retailers in nine markets including Singapore, Indonesia, Malaysia, Hong Kong, Taiwan, Vietnam, Philippines, Thailand and mainland China.
In Malaysia, the BNPL platform has partnered with over 200 online and offline merchants.
“With Atome, we are able to open newer categories for affordability and bring in newer customer segments who might not be traditional credit card customers. It’s a win-win for both merchants and their customers.
We’re excited to partner Atome, a well-known player in this space. Together, we aim to delight merchants in Malaysia and help them drive business growth through BNPL payment acceptance processed via Pine Labs merchants payment technology,”
said Chayan Hazra, Head of Payment Business (APAC) at Pine Labs.
“We’re excited to be the first BNPL brand to partner Pine Labs in Malaysia. This partnership will enable a quicker, smoother and more seamless payment experience across thousands of point-of-sale checkouts in Malaysia.
The movement control order (MCO) has placed a huge strain on Malaysia’s retail sector and this partnership will support and drive recovery in retail sales while empowering consumers to shop and pay flexibly, safely, and responsibly,”
said Trasy Lou-Walsh, General Manager for Atome Singapore and Malaysia.
Featured image: Edited from Unsplash
