Merchant payments services provider, OxPay, has entered into a partnership with Asian buy now pay later (BNPL) platform, Atome, to allow thousands of merchants across Malaysia, Thailand, Singapore and Indonesia to offer flexible deferred payments.
The partnership will see OxPay expect a rise in customer adoption and average spend, while Atome will leverage OxPay’s extensive network of merchants across Asia.
Currently available in 10 Asian markets, Atome partners with over 15,000 retailers to provide a range of BNPL and other flexible payments options both offline and online.
“We are excited to partner with OxPay and accelerate the acceptance of the buy now pay later platform across thousands of merchants across Malaysia and then to Singapore and Thailand, and enable a superior, secure checkout experience for consumers,” Jeremy Wong, Head of Strategic Partnerships at Atome, said.
“This partnership will give merchants the ability to offer frictionless and flexible deferred payments acceptance and be able to tap into younger customer segments such as the Gen Z and millennials who are digitally savvy.”
OxPay has launched the joint initiative in Malaysia with the assistance of merchants including Jal Yoga Malaysia, OMG Optical House and Andro Medical, with plans to roll out in Singapore and Thailand.
“As economies in Asia continue to recover post-COVID-19 lockdowns, the overall credit market is forecasted to grow at an expedited rate,” Henry Tan, Managing Director of OxPay, said.
“Thus, we believe that it is an exciting time to partner with Atome. In time, we anticipate that Atome’s innovative financing model will accelerate the growth of our merchant partners and provide greater financial support to underserved customers in emerging markets.”