The launch of value-added service products, such as instalment for consumers, not only alleviates the pressure of their short-term capital, but also meets the consumption desire to buy, improves the quality of life, and for businesses it improves the transaction flow, transaction volume, and commodity purchase conversion rate. Lastly, it will also promote good business for the majority of consumers and businesses, according to AsiaPay.
PayDollar, an advanced multi-channel payment platform of AsiaPay is now supporting Visa Instalments in Hong Kong and soon in Singapore and Malaysia, providing buyers with more flexible instalment choices. According to the HKMA statistics, at the end of the first quarter of 2022, the number of credit cards floating in the market was 19.16 million, and the total transaction volume transacted was USD 172 billion.
Credit cards have always been one of the most preferred payment methods in Hong Kong. The instalment payment model, which became more and more popular since the outbreak period in 2020, has become a new trend in online shopping. The market has proven that it has great potential and was gradually recognised by customers, especially the younger generation as the main driving force, as per the press release.
AsiaPay launches Visa Instalments, a new credit card installment service of Visa that enables consumers to make purchase payment by instalments. Visa Instalments has 6 types of models and is divided into instalments for 3, 6, 9, 12,18, and 24 months. This will stimulate the willingness to consume and meet consumers’ diversified demands. Consumers can have greater payment experiences at checkout by using PayDollar enabled with Visa Instalments, which in turn can help merchants increase sales volume and conversion rates.
Officials from AsiaPay stated that PayDollar is a secure advanced digital payment platform built by AsiaPay and has been widely used by merchants in Asia. They are pleased to see AsiaPay’s contribution to the digital economy through innovation, providing customers with a quality and value-added shopping experience with convenient payment choices of card instalment. With the development of the fintech industry in Southeast Asia, AsiaPay will continue to launch local ,simple, secure, and value-added payment services in the future.
For more information about AsiaPay, please check out the company profile in The Paypers Company Database.
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