Shop at TikTok Shop Malaysia with Atome’s “Buy Now, Pay Later”
- puiyee
- Aug 11, 2023
- 2 min read
Exciting developments are shaking up the e-commerce landscape! TikTok Shop, the e-commerce marketplace of the short video app, is collaborating with Atome to offer an exciting new way to pay in Malaysia. This strategic partnership brings the "Buy Now, Pay Later" (BNPL) service, making it easier for people to shop and pay in instalments. It's like spreading out the cost over a few months – a win-win for shoppers and sellers!
Making Payments Flexible
Atome, a BNPL service known for making waves in the financial technology sector, will be integrated into TikTok Shop's platform. This cool feature lets shoppers split their payments over three or six months, making things easier. Atome is connected to a company called Advance Intelligence Group in Singapore and has the backing of big investors like SoftBank Vision Fund 2 and Warburg Pincus. Integrating Atome's services into TikTok Shop's ecosystem will grant sellers the capability to offer a payment solution that suits their customers.
Driving E-commerce Growth
Jonathan Low, e-commerce lead of strategy and special projects at TikTok Shop, said that this partnership is all about helping businesses grow and making shopping smoother for users. The integration of Atome as a payment option is a sign that TikTok Shop wants to make sure everyone has a simple and pleasant shopping experience. William Yang, the head of commercial at Atome, also shares the excitement about supporting businesses and helping e-commerce to flourish with this cool payment solution.
Expanding Beyond Borders
This strategic partnership comes at a time when TikTok is actively seeking growth opportunities beyond its main market in the United States. Recent challenges, including bans in Montana and India, have spurred the company to explore new horizons. Meanwhile, TikTok Shop is busy expanding in Southeast Asia, competing with established players such as Sea's Shopee and Alibaba's Lazada.
Investing in Southeast Asia
With its eyes on Southeast Asia, TikTok is committing significant resources to the region. The company's CEO has announced plans to invest billions of dollars in Southeast Asia over the coming years, showcasing TikTok's dedication to realizing the region's immense potential. In April, TikTok revealed that it boasts over 325 million monthly users in Southeast Asia alone. Moreover, the company has undertaken initiatives to support local businesses, including a $12.2 million investment aimed at assisting more than 120,000 small and medium-sized businesses in establishing a robust online presence. This multifaceted approach emphasizes TikTok's ambition to not only be a premier entertainment platform but also an influential player in the evolving landscape of e-commerce.
In a nutshell, the partnership between TikTok Shop and Atome is set to change how people shop online in Southeast Asia. With flexible payments and support for businesses of all sizes, TikTok Shop is showing its strength in the global e-commerce world. As TikTok looks beyond the United States, they are sticking to its mission of making online shopping creative, growing, and hassle-free for everyone.
