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Ant rolls out BNPL product in Hong Kong

Ant rolls out BNPL product in Hong Kong

Ant Group continues to expand its product range in Asia, rolling out a BNPL offering in Hong Kong and small business loans in Singapore.

The Chinese giant's Ant Bank (Hong Kong) and AlipayHK units are rolling out Ant Bank PayLater on AlipayHK ahead of the Double 11 (China's equivalent of Black Friday) and Christmas shopping sprees.

Users will be able to pay in instalments when shopping on AlipayHK's network of merchants as well as on e-commerce platform Taobao.

Yvonne Leung, chief executive, Ant Bank (Hong Kong), says: "Through AlipayHK's established, solid merchant network, our users can enjoy shopping with most of the local online merchants by choosing to pay in interest-free instalments."

Separately, Ant Group's recently launched Singaporean digital wholesale bank, Anext, is to start offering loans to SMEs.

Small firms can apply for loans of between S$5000 and S$100,000 via partners IN Financial Technologies and Bizmann System.

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