Singaporean payments company FOMO Pay has partnered with buy now pay later (BNPL) firm Atome to expand the use of BNPL in Asia.
Established in 2015, FOMO markets a one-stop mobile payment processing solution which enables merchants & banks to accept a full suite of digital cashless payment methods. The company serves a wide range of industries including education, retail, tourism, telecom, publishing and hospitality.
Atome markets a BNPL platform that partners with over 3,000 online and offline retailers across the markets of Singapore, Thailand, Indonesia, Taiwan, Vietnam, China, Hong Kong, Malaysia and the Philippines.
The partnership between FOMO and Atome will enable Atome to expand its BNPL market reach through the use of FOMO’s mobile payment processing platform.
FOMO Pay COO and co-founder Zack Yang said, “While more consumers get used to paying through mobile and digital payment methods, FOMO Pay supports our merchants with easy, one-stop payment solutions that empower safe and secure payment collection services. This strategic partnership with Atome will allow merchant partners of all sizes to easily offer buy now pay later to their end consumers, one of the fastest-growing payment methods globally, across both offline and online checkout experiences.
“Together with other payment methods powered by FOMO Pay, merchants would increase profit by meeting different payment needs of a wider range of customers.”
Atome general manager for Singapore and Malaysia Trasy Lou Walsh added, “We’re excited to partner with FOMO Pay to enable buy now pay later acceptance across thousands of online and offline checkouts in this region. Consumers today expect convenience, transparency and flexibility in their payment experience. This partnership will support businesses in enabling a fast, safe and seamless checkout experience that will accelerate business growth and sales.”
Elsewhere in Asia, Japanese BNPL provider Paidy recently raised a $120m Series D funding round. The company will use the funding to develop new services and expand its transactions with large merchants.
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