Atome, an Asian BNPL brand, and Razer Merchant Services (RMS), a Malaysia-based branch of Razer Fintech, are working to offer flexible delayed payment options at both online and offline merchant checkout.
Starbucks and other B2C merchants that use BNPL may be able to make their products more accessible to customers by accepting flexible, delayed payments as a result of the collaboration. Starbucks is one of the first businesses to use Atome’s versatile payment mechanism.
According to the release, which cited a Coherent Market Insights report, BNPL is expected to expand at a compound annual growth rate (CAGR) of 21.2 percent to $33.6 billion in 2027 from $7.3 billion in 2019.
According to the statement, which referenced a 2021 e-Conomy SEA study, internet penetration in Southeast Asia would reach 75% in 2021, with 40 million new users acquired in only one year.
“RMS is very excited 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,” says Razer Fintech CEO Lee Li Meng. “We look forward to extending this cooperation with Atome to reach and enter the Southeast Asian market.”
Atome partners with over 3,000 stores across Asia. According to the release, its average order value has increased by more than 30%, and with an estimated 85 percent customer return rate, consumers contribute more than 25% of retail revenues.
“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,” said Atome Head of Strategic Partnerships Jeremy Wong in the release. Furthermore, we are pleased for Atome customers who can now pay for their purchases and RMS companies that can now attract and retain clients with Atome’s BNPL.
Razer Fintech extended its offline to online digital payment network in Indonesia in June when it acquired PT E2Pay Global Utama, an Indonesian B2B2C digital payment facilitator.
