PayMongo expands BNPL offering through Atome

PayMongo offers a quick and fully online onboarding process and seamless API integration with retail websites or apps, which allow them to accept digital payments such as credit and debit cards, online banking, e-wallets, and now Buy Now, Pay Later, during checkout.

PayMongo’s officials stated that with the growing trend toward digital payments and the appeal of zero-interest payment options, especially among digital-native customers, they’re confident this partnership with Atome will help their merchants grow sales and benefit both new and returning customers.

At the same time, BNPL payment adoption is expected to grow steadily in the Philippines, recording a CAGR of 50.9% during 2022-2028 according to researchandmarkets.com. BNPL Gross Merchandise value in the country will increase from USD 383 million in 2021 to reach USD 9476.8 million by 2028. The certainty and transparency of BNPL repayment and credit terms, as well as aversion to high interest fees have led to BNPL’s growing popularity, especially among millennials and Gen Z consumers, as per the press release.

Commenting on the partnership, Atome’s representatives said that their partnership with PayMongo in the Philippines will accelerate the acceptance of flexible deferred payment options and will support thousands of merchants in enabling an augmented checkout experience for consumers, in-store and online. This, in turn, will optimise customer conversion, increase average orders and repeat sales.