Atome is a leading Buy Now, Pay Later platform in Asia, partnering retailers to increase conversions and grow average orders and customer segments. It currently partners over 5,000 retailers in nine markets. For consumers, Atome offers choice, convenience, and flexibility in how they choose to shop and pay. 

How the payment method works

2. Merchant will receive full transaction amount (minus MDR – Merchant Discount Rate – fees) within 3 working days.

Target market

Potential partners and FIs such as banks

Contact details

renwei.lee@atomefin.com

Operational area

Singapore, Indonesia, Malaysia, Hong Kong, Taiwan, Vietnam, Philippines, Thailand, and mainland China

Investors

Pavilion Capital Partners (Subsidiary of Temasek), Northstar, Provident Capital, Farallon, GSR Ventures

License type

License dependent on the particular market

Reach

20 million registered customers

Acceptance

3,000 online and offline retailers across Southeast Asia

Market share

More information available upon request

Implementation requirements (non technical)

For consumers – local identity card, payment details and basic information

For merchants – registered business entity with bank account

Company motto

Create a better life for consumers through greater financial access and technology

Payment type  

Buy Now, Pay Later/Instalments/Pay by invoice

• Business model: 1. The customer checks out with Atome at 0% interest, no admin fee, and splits the shopping bill into three easy monthly payments. 2. The merchant will receive the full transaction amount (minus MDR – Merchant Discount Rate – fees) within three working days.

• Payment instruments used: Credit card, debit card, local e-wallets, direct bank debit, integration with PSP platforms

• Credit check: Yes

• Credit application: No

• Late fees: Late fees capped at equivalent of USD 45 (USD 22 x 2)

• Interest rates: No interest for users

Channels

Online

N/A

POS/In-store

N/A

Omnichannel

Merchant website, mobile application, in-store POS, QR code

Services

Settlement currencies

Local currencies

Processing currencies

N/A

Currency available for customers

SGD, MYR, IDR, HKD, TWD, VND, PHP, THB, RMB

Implementation requirements

For consumers – local identity card, payment details and basic information

For merchants – registered business entity with bank account

Chargeback/Buyer protection

N/A

Automated and instant refund

Refund possible through the merchant

Reconciliation

N/A

Fraud prevention (measures)/Risk management

In-house eKYC credit risk profiling and assessment technology

Pricing/Fees structure

Merchant MDR fees

Future developments

Scale the business to new markets in SEA, improve the merchant experience, develop tools/features to help them grow their business better/faster, develop features to help users with smart spending/budget features

Technology

Integration technology

WooCommerce, Shopify, Opencart, WIX, Magento, PrestaShop, Shoplazza, Salesforce, Shopline

Integration support

N/A

Transaction volume

Number of transactions (per year)

More information available upon request

Transactions value

More information available upon request