2C2P, a global payments platform, today announced a partnership with Atome, Asia’s leading ‘Buy Now Pay Later’ (BNPL) brand, to facilitate BNPL acceptance among businesses within the region.
This partnership enables 2C2P’s extensive network of online and offline merchants across the region to offer BNPL as an alternative payment method to their customers.
In a 2020 study, BNPL is estimated to grow in global market value to US$33.6 billion by 2027 with Asia being the fastest-growing regions due to increasing rates of mobile Internet penetration. The certainty of BNPL repayment and credit terms as well as aversion to interest fees have led to a surge in BNPL’s popularity particularly amongst millennials and Gen Z consumers.
Merchants using 2C2P’s platform in Singapore and Malaysia can now offer their customers the option to pay using Atome, either online or instore. The option is expected to roll out in other markets such as Thailand, Philippines and Indonesia in the near future. Customers will be able to make payments over three months with zero interest, service fees or annual fees with Atome.
Aung Kyaw Moe, Founder and CEO of 2C2P, said: “Our strategic partnership with Atome enables our merchants and retailers to offer a seamless and flexible payment experience and we are excited to offer Atome to our merchants, both instore and online, across the region. At 2C2P, we are always looking for new ways to support our merchants’ growth and enhance the payment experience by offering all types of payment options. With the growing trend towards digital payments and the appeal of interest-free payments, equipping our merchants with the additional BNPL option provides a timely and effective tool to optimise sales and attract new and younger customers.”
David Chen, CEO of Atome, said: “More than ever, consumers want flexibility, transparency and a better, more personalised shopping and payment experience. Our regional partnership with 2C2P will support thousands of merchants across Southeast Asia in enabling a superior, secure checkout experience for consumers, both in store and online. This in turn will optimise customer conversion, increase average orders and repeat sales.”