Atome, an Asian buy now, pay later (BNPL) startup, has teamed up with Airwallex, a provider of payment and banking infrastructure. Through this partnership, retailers using Airwallex will be able to provide customers in Singapore, Hong Kong, Indonesia, and Malaysia with BNPL services as a payment alternative.
This collaboration is the first one Airwallex has had with a BNPL supplier. It anticipates that the addition of the technology will enable retailers to boost sales and diversify their payment options by offering new alternatives.
Along with providing businesses with more than 20 local payment options in Hong Kong, Indonesia, Malaysia, and Singapore, Airwallex also offers multi-currency car-based payment solutions with Visa, Mastercard, and UnionPay.
The fintech intends to broaden its partnership with Atome so that customers in Thailand, Japan, and the Philippines can use BNPL services.
Speaking on the partnership, Atome head of strategic partnerships Jeremy Wong said, “BNPL is becoming an increasingly popular payment choice among shoppers today, particularly among the fast-growing Gen Z and millennial customer segment. With this partnership, millions of customers across the region can now shop and pay through flexible deferred payments at Airwallex merchants. This will help Airwallex merchants grow conversion rates and basket sizes, while increasing customer payment choice and flexibility.”
The Series E fundraising round for Airwallex has received an additional $100 million. The additional equity increased the FinTech business’s valuation to $5.5 billion.
The business asserts that its banking and payment systems are the most effective. With the help of its technology, companies of all sizes may take payments, transfer money internationally, and streamline financial processes.
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