Payment and banking infrastructure developer Airwallex has partnered with Asian buy now, pay later (BNPL) company Atome.
Through this collaboration, Airwallex merchants will be able to offer BNPL services as a payment option to shoppers across Hong Kong, Indonesia, Malaysia and Singapore.
This partnership marks the first Airwallex has made with a BNPL provider. It hopes the addition of the tool will allow merchants to increase their revenues and allow them to diversify their payment options through flexible payment options.
Airwallex also supplies merchants with multi-currency car-based payment solutions with Visa, Mastercard and UnionPay, as well as over 20 local payment methods in Hong Kong, Indonesia, Malaysia and Singapore.
The company plans to extend its collaboration with Atome to offer BNPL services to shoppers in Japan, the Philippines and Thailand.
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.”
Airwallex recently extended its Series E funding round with an additional $100m. The fresh equity lifted the FinTech company’s valuation to $5.5bn.
The company claims it has the most powerful payments and banking infrastructures. Its technology allows businesses of all sizes to accept payments, move money globally and simplify financial operations.
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