SHOPLINE Enables Its Merchants to Offer Atome’s BNPL Solutionby Fintech News Singapore May 18, 2022
Hong Kong-based smart commerce platform SHOPLINE announced that it has formed a regional partnership with Atome, a Buy Now, Pay Later (BNPL) platform.
The partnership will enable online merchants in Hong Kong, Singapore, Malaysia and Taiwan to provide BNPL as a payment option.
Atome’s BNPL solution is designed with 3 zero-interest payments, 1 at the point of purchase and 2 over time, with no annual or service fees.
SHOPLINE and Atome said in a joint statement that the more flexible, transparent and personalised payment experience empowers merchants to attract younger and more tech-savvy consumers.
This translates to a higher conversion rate, order value and customer retention, especially for higher-priced products.
According to Atome’s data, merchants who provide a BNPL option have experienced an average 17% increase in order size and a 30% higher conversion rate during checkout, as well as repeat sales.
SHOPLINE added that it also has plans to expand the strategic partnership with Atome later this year to include other Asian markets such as Indonesia.
“The partnership with ATOME offers the flexibility, transparency and seamless customer experience that resonates with younger consumers who are increasingly judicious with the debts that they take on, favouring BNPL options over credit card and other forms of payments.
This is synonymous with SHOPLINE’s mission to continually offer best in class solutions for our merchants to build autonomous, powerful and thriving omni-channel brands.”
said Joshua Qiao, General Manager at SHOPLINE.
“Our regional partnership with SHOPLINE will support thousands of merchants across Greater China and Southeast Asia in enabling a superior, secure Buy Now, Pay Later checkout experience for consumers, both in store and online.
This in turn will improve customer conversion, increase average orders and repeat sales,”
said Jeremy Wong, Regional Head of Strategic Partnership at Atome.