Atome teams up with Airwallex to empower Singapore retailers with Buy Now Pay Later payment options.
In a significant move, payments company Airwallex has partnered with buy now pay later (BNPL) provider Atome. This partnership marks Airwallex's first tie-up with a BNPL provider. The collaboration was announced at the Singapore Fintech Festival and aims to expand Airwallex's global reach and product offerings. Arnold Chan, General Manager of Airwallex in Southeast Asia and Hong Kong, stated that the company aims to provide businesses with the benefits of BNPL. With this partnership, Airwallex's merchants in Singapore, Hong Kong, Indonesia, Malaysia, Japan, Thailand, and the Philippines can now offer BNPL as a payment option to their customers. This is expected to help businesses increase revenues and create a more seamless customer experience for the long term. Airwallex offers over 20 local payment methods to its merchants and multi-currency card-based payment solutions with Visa, Mastercard, and UnionPay. The partnership with Atome further strengthens Airwallex's payment solutions, positioning BNPL as a popular payment choice among shoppers in the region. Jeremy Wong, Head of Strategic Partnerships at Atome, noted that BNPL is growing in popularity among shoppers, particularly among Gen Z and millennials. According to him, the partnership will enable millions of customers across the region to shop and pay through flexible deferred payments at Airwallex merchants. Airwallex recently raised an additional US$100 million in its Series E2 fundraising round, bringing its total funds raised to more than US$900 million. The company officially launched in Singapore earlier in January and plans to expand its collaboration with Atome to enable its merchants in Japan, Thailand, and the Philippines to offer BNPL. No new information about specific countries where the partnership will be expanded was provided. However, Airwallex is known for its commitment to expanding its global footprint and providing businesses with innovative payment solutions. In conclusion, the partnership between Airwallex and Atome is a strategic move that is set to revolutionise the payments landscape in the region. By offering BNPL as a payment option, Airwallex aims to cater to the growing demand for flexible payment solutions among shoppers while helping businesses increase their revenues.
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