Atome, an Asian buy now, pay later (BNPL) brand, and Razer Merchant Services (RMS), a Malaysia-based division of Razer Fintech, are collaborating to provide flexible delayed payment alternatives at both online and offline merchant checkout.
Through the cooperation, Starbucks and other B2C merchants that utilize BNPL may make their products more accessible to customers by accepting flexible, deferred payments. Starbucks is one of the first merchants to use Atome’s flexible payment method.
According to the announcement, which referenced a Coherent Market Insights analysis, BNPL is anticipated to increase to $33.6 billion in 2027 from $7.3 billion in 2019, growing at a compound annual growth rate (CAGR) of 21.2 percent.
According to the statement, which cited a 2021 e-Conomy SEA research, internet penetration in Southeast Asia increased to 75% in 2021, with 40 million new users added in just that one year.
According to Razer Fintech CEO Lee Li Meng, “RMS is very thrilled about this relationship with Atome as it will assist our merchants and their consumers by delivering the latest and most convenient payment solutions across Malaysia.” For consumers who don’t have access to card scheme installments, “we look forward to extending this cooperation with Atome to reach and enter the Southeast Asian market.”
In Asia, Atome collaborates with more than 3,000 retailers. According to the announcement, its average order value has climbed by more than 30%, and with an estimated 85% customer return rate, customers contribute more than 25% of revenues for retailers.
In the release, Atome Head of Strategic Partnerships Jeremy Wong stated, “Through our strategic partnership with RMS, we hope to continue supporting merchants by offering a flexible, secure, and seamless experience to their customers, to further drive their sales and conversions with flexible deferred payments. Additionally, we are happy for Atome users who can now pay for their purchases and RMS businesses who now draw in and keep clients with Atome’s BNPL.
Razer Fintech expanded its offline to online digital payment network in Indonesia in June when it purchased Indonesian B2B2C digital payment facilitator PT E2Pay Global Utama.
