Melbourne-based tech venture builder and accelerator Fatfish Group (FFG) announced that it is establishing a new retail Buy Now, Pay Later (BNPL) brand PaySlowSlow in South East Asia.
PaySlowSlow will be its flagship brand that will be undertaking FFG’s retail BNPL business in Southeast Asia.
FFG said that it “aims to make PaySlowSlow a prominent retail BNPL brand that will be active in various major geographical markets of Southeast Asia”.
The first geographical market in which Fatfish intends to introduce the PaySlowSlow brand will be Malaysia, where various FFG businesses have presence in.
PaySlowSlow Sdn. Bhd. has been incorporated as a subsidiary of FFG in Malaysia and will be carrying out business activities under the PaySlowSlow brand.
It will be working closely with Fatfish’s other Malaysian subsidiary, Forever Pay Sdn. Bhd., to comply with the regulatory requirements to roll out retail BNPL services in Malaysia.
Though it is unclear which regulatory requirement FatFish is referring to as there is no existing regulatory framework in Malaysia to regulate BNPL schemes.
The financing of business activities under the PaySlowSlow BNPL brand will come from existing working capital of FFG.
Featured image credit: edited from Pexels
