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Singapore-based buy now pay later (BNPL) platform Atome announced that its order volume in Malaysia has grown by 100X in the first half of the year.
The company also added that its online and offline merchant network has grown to serve more than 500 retailers now, a 500% increase from when it first launched in Malaysia at the end of 2020.
They said that the rapid growth of the company comes against the backdrop of the Covid-19 pandemic and the extension of the movement control order (MCO) which has seen local retailers struggle.
For retailers, especially SMEs, Atome said that its service helps improve their cash flow and online sales growth and also increases their average ticket order size.
The firm reported that retailers have experienced an average 17% increase in ticket order size since adding Atome as a payment checkout option.
Atome was launched in Malaysia in the last quarter of 2020 with reportedly over 100 merchant partners.
The firm had recently partnered with Pine Labs Malaysia to boost retail business growth by enabling quicker, smoother and seamless BNPL payment acceptance across thousands of point-of-sale checkouts across Malaysia.
Trasy Lou Walsh, General Manager of Atome Singapore and Malaysia said, “Atome’s strong growth in Malaysia speaks to the value that we are delivering, helping merchants grow their business, driving new leads and sales amid these challenging times. At the same time, Atome also provides consumers with zero-interest payment flexibility to help budget their spend and purchases responsibly over time.”
Source: Fintech News Malaysia - BNPL Firm Atome Records 100X Order Volume Growth in Malaysia