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
Omnichannel
Merchant website, mobile application, in-store POS, QR code
Services
Settlement currencies
Local currencies
Processing currencies
Currency available for customers
SGD, MYR, IDR, HKD, TWD, VND, PHP, THB, RMB
Implementation requirements
Chargeback/Buyer protection
Automated and instant refund
Refund possible through the merchant
Reconciliation
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
Transaction volume
Number of transactions (per year)
Transactions value